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Dominion Energy Q1 Profit Decreases, But Beats Estimates; Sees Q2 Profit Shy Of Estimates - Update

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Dominion Energy, Inc. (D) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $711 million, or $0.83 per share. This compares with $1.01 billion, or $1.23 per share, in last year's first quarter.

Excluding items, Dominion Energy, Inc. reported adjusted earnings of $1.00 billion or $1.18 per share for the period.

Analysts on average had expected the company to earn $1.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.6% to $4.28 billion from $3.87 billion last year.

Outlook:

Dominion Energy expects second-quarter operating earnings to be $0.70-$0.80 a share.

10 analysts on average, polled by Thomson-Reuters expect the company to report earnings of $0.85 per share.

It also reiterated full-year operating earnings outlook of $3.95 to $4.25 per share. The consensus estimate stands at $4.12 per share.

Dominion Energy, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $711 Mln. vs. $1.01 Bln. last year.
-EPS (Q1): $0.83 vs. $1.23 last year.
-Analyst Estimates: $1.17
-Revenue (Q1): $4.28 Bln vs. $3.87 Bln last year.

-Guidance:
Next quarter EPS guidance: $0.70 to $0.80
Full year EPS guidance: $3.95 to $4.25

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