Yahoo Finance Dominion (D) to Report Q1 Earnings: What's in the Cards?
Dominion Energy Inc. D is scheduled to release first-quarter 2020 earnings on May 5, before the market opens. This utility delivered a positive earnings surprise of 1.7% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
Dominion’s first-quarter earnings are expected to have gained from regulated investments across electric and gas businesses, as well as lower interest expenses. The company derives nearly 95% of earnings from regulated operations.
The outbreak of novel coronavirus during the first quarter is likely to have impacted Dominion’s sales to commercial and industrial customers. Notably, the company generates a substantial portion of regulated electric and gas revenues from residential customers. Due to extended stay at home directives, increase in residential demand is likely to have aided its first-quarter performance.
However, higher share count, Cove Point minority interest, warm weather in its service areas and lower New England capacity prices are expected to have offset these positives to some extent.
Q1 Expectation
Dominion expects first-quarter earnings in the range of $1.05-$1.25 per share. The bottom line was $1.10 per share in the year-ago period. The Zacks Consensus Estimate for the same is pegged at $1.10 per share, indicating no change from the year-ago reported figure.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Dominion this time around. The combination of a positive Earnings ESP (which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate) and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here as you will see below.
Dominion Energy Inc. Price and EPS Surprise
Dominion Energy Inc. price-eps-surprise | Dominion Energy Inc. Quote
Earnings ESP: The company’s Earnings ESP is 0.00%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, it carries a Zacks Rank of 3.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Algonquin Power & Utilities Corp. AQN is slated to release first-quarter 2020 results on May 7. It has an Earnings ESP of +1.42% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Consolidated Edison, Inc. ED is slated to release first-quarter 2020 results on May 7. It has an Earnings ESP of +0.69% and a Zacks Rank #3.
WEC Energy Group WEC is slated to release first-quarter 2020 results on May 4. It has an Earnings ESP of +0.25% and a Zacks Rank #3.
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Consolidated Edison Inc (ED) : Free Stock Analysis Report
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