Dominion Resources Tops On Q1 Earnings, Revenue Lags

Dominion Resources (D) is one of the largest producers and transporters of energy, with a portfolio of nearly 24,600 megawatts of generation assets, 12,200 miles of natural gas transmission, gathering and storage pipeline and 6,455 miles of electric transmission lines.

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Dominion is among the nation’s largest natural gas storage systems with 928 billion cubic feet of storage capacity and serves utility and retail energy customers in 13 states.

Dominion is gradually building up its renewable assets through organic and inorganic routes. The company aims to achieve renewable energy goals of 15% in Virginia by 2025 and 12.5% in North Carolina by 2021.

Estimate Trend & Surprise History

Investors should note that Zacks Consensus Estimate for the first quarter for earnings of 96 cents per share has decreased 9.4% over the last 90 days.

Coming to the earnings surprise, Dominion Resources has surpassed the Zacks Consensus Estimate in two out of last four quarters, resulting in a positive average surprise of 1.42%.

Zacks Rank: Currently, Dominion Resources has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. We have mentioned below some of the vital information from this just-revealed announcement:

Earnings: Dominion Resources beat on earnings. Our consensus called for EPS of 96 cents, and the company reported EPS of 99 cents (these figures take out stock option expenses).

Revenue: Revenues lagged expectations. Dominion Resources posted revenues of $3,427 million, missed our consensus estimate of $3,637 million by 5.8%.

Key Stats: Dominion Resources’ electric delivery customers increased 1% year over year to nearly 2.52 million. The company reaffirmed its earnings guidance for 2015 in the range of $3.50–$3.85 per share.

Stock Price: It would be interesting to see how the market reacts to the earnings beat during the trading session today.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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