Benzinga -
- Dominion Energy Inc (NYSE: D) reported first-quarter revenues for 2023 of $5.25 billion, exceeding the consensus of $4.46 billion.
- Operating earnings fell 15% Y/Y to $849 million, declining across all segments.
- The company reported a pre-tax net income of $206 million in Q1 (vs a loss of $255 million a year ago), with a net market benefit of $354 million related to nuclear decommissioning trusts and hedging activities.
- Operating EPS of $0.99, down from $1.18 a year ago, beating the consensus of $0.97.
- Operating expenses rose to $3.81 billion from $3.3 billion a year ago.
- Cash flow from operating activities rose to $2.1 billion from $1.13 billion a year ago.
- Cash and cash equivalent stood at $1.79 billion at the end of Q1.
- Outlook: Dominion Energy expects Q2 operating EPS of $0.58 to $0.68 versus the consensus of $0.79.
- Price Action: Dominion Energy shares are trading lower by 1.89% at $55.50 premarket on last check Friday.