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Dominion Energy (D) Q4 Earnings Meet Estimates, Revenues Top
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Dominion Energy Inc. (D - Free Report) reported fourth-quarter 2021 operating earnings of 90 cents per share, on par with the Zacks Consensus Estimate. Quarterly earnings were within the guided range of 85-95 cents per share. Operating earnings also improved 11.1% year over year.
GAAP earnings for the fourth quarter were $1.63 per share compared with 82 cents in the year-ago quarter.
For 2021, Dominion Energy’s earnings per share were $3.86, up 9% from $3.54 a year ago.
Revenues
Dominion Energy’s total revenues came in at $3,880 million, which surpassed the Zacks Consensus Estimate of $3,851 million by 08.4% and improved 10.2% from $3,521 million in the year-ago quarter.
For 2021, Dominion Energy’s total revenues were $13,964 million, down 1.5% from the 2020 figure of $14,172 million.
Dominion Energy Inc. Price, Consensus and EPS Surprise
Total operating expenses decreased 10.4% year over year to $2,943 million due to an increase in electric fuel and other energy-related purchase costs.
Interest and related charges for the reported quarter were $376 million, up 56% from the year-ago period.
Segment Details
Dominion Energy Virginia: Net income from this segment was $455 million, up 10.4% year over year.
Gas Distribution: Net income from this segment was $185 million, on par with the year-ago figure.
Dominion Energy South Carolina: Net income from this segment was $100 million, up 7.5% year over year.
Contracted Assets: Net income from this segment was $58 million, down 45.8% year over year.
Corporate and Other: Net loss was $46 million compared with a loss of $125 million in the year-ago quarter.
Financial Highlights
Total long-term debt as of Dec 31, 2021 was $37,426 million, up from $33,957 million in the corresponding period of 2020.
For 2021, cash provided from operating activities was $4,037 million, down 22.8% from $5,227 million in the year-ago period.
Guidance
Dominion initiated its first-quarter 2022 operating earnings guidance in the range of $1.10-$1.25 per share. Dominion reported earnings of $1.09 per share in the year-ago period. The midpoint of the above guided range is $1.18, higher than the current Zacks Consensus Estimate for the period of $1.15 per share.
Dominion initiated its 2022 earnings per share view in the range of $3.95-$4.25. The midpoint of the guidance is $4.10 per share, which is lower than the current Zacks Consensus Estimate for the period of $4.12.
Growth capital expenditure for the 2022-2026 period is expected to be $37 billion and nearly 87% of the planned expenditure will be directed for lowering emissions.
Zacks Rank
Currently, Dominion Energy has a Zacks Rank #3 (Hold).
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2021 adjusted earnings of 41 cents per share, which beat the Zacks Consensus Estimate of 40 cents by 2.5%.
NextEra Energy’s long-term (three to five years) earnings growth is 8.8%. The Zacks Consensus Estimate for 2022 earnings per share indicates year-over-year growth of 8.6%.
WEC Energy Group (WEC - Free Report) came up with fourth-quarter 2021 earnings per share of 71 cents, which beat the Zacks Consensus Estimate of 68 cents by 4.41%.
WEC Energy’s long-term earnings growth is 6%. The Zacks Consensus Estimate for 2022 earnings per share indicates year-over-year growth of 4.6%.
DTE Energy Company (DTE - Free Report) recorded fourth-quarter 2021 operating earnings per share of $1.05, which surpassed the Zacks Consensus Estimate of 94 cents by 11.7%.
DTE Energy’s long-term earnings growth is 6%. The Zacks Consensus Estimate for 2022 earnings per share indicates year-over-year growth of 0.3%.
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Dominion Energy (D) Q4 Earnings Meet Estimates, Revenues Top
Dominion Energy Inc. (D - Free Report) reported fourth-quarter 2021 operating earnings of 90 cents per share, on par with the Zacks Consensus Estimate. Quarterly earnings were within the guided range of 85-95 cents per share. Operating earnings also improved 11.1% year over year.
GAAP earnings for the fourth quarter were $1.63 per share compared with 82 cents in the year-ago quarter.
For 2021, Dominion Energy’s earnings per share were $3.86, up 9% from $3.54 a year ago.
Revenues
Dominion Energy’s total revenues came in at $3,880 million, which surpassed the Zacks Consensus Estimate of $3,851 million by 08.4% and improved 10.2% from $3,521 million in the year-ago quarter.
For 2021, Dominion Energy’s total revenues were $13,964 million, down 1.5% from the 2020 figure of $14,172 million.
Dominion Energy Inc. Price, Consensus and EPS Surprise
Dominion Energy Inc. price-consensus-eps-surprise-chart | Dominion Energy Inc. Quote
Highlights of the Release
Total operating expenses decreased 10.4% year over year to $2,943 million due to an increase in electric fuel and other energy-related purchase costs.
Interest and related charges for the reported quarter were $376 million, up 56% from the year-ago period.
Segment Details
Dominion Energy Virginia: Net income from this segment was $455 million, up 10.4% year over year.
Gas Distribution: Net income from this segment was $185 million, on par with the year-ago figure.
Dominion Energy South Carolina: Net income from this segment was $100 million, up 7.5% year over year.
Contracted Assets: Net income from this segment was $58 million, down 45.8% year over year.
Corporate and Other: Net loss was $46 million compared with a loss of $125 million in the year-ago quarter.
Financial Highlights
Total long-term debt as of Dec 31, 2021 was $37,426 million, up from $33,957 million in the corresponding period of 2020.
For 2021, cash provided from operating activities was $4,037 million, down 22.8% from $5,227 million in the year-ago period.
Guidance
Dominion initiated its first-quarter 2022 operating earnings guidance in the range of $1.10-$1.25 per share. Dominion reported earnings of $1.09 per share in the year-ago period. The midpoint of the above guided range is $1.18, higher than the current Zacks Consensus Estimate for the period of $1.15 per share.
Dominion initiated its 2022 earnings per share view in the range of $3.95-$4.25. The midpoint of the guidance is $4.10 per share, which is lower than the current Zacks Consensus Estimate for the period of $4.12.
Growth capital expenditure for the 2022-2026 period is expected to be $37 billion and nearly 87% of the planned expenditure will be directed for lowering emissions.
Zacks Rank
Currently, Dominion Energy has a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2021 adjusted earnings of 41 cents per share, which beat the Zacks Consensus Estimate of 40 cents by 2.5%.
NextEra Energy’s long-term (three to five years) earnings growth is 8.8%. The Zacks Consensus Estimate for 2022 earnings per share indicates year-over-year growth of 8.6%.
WEC Energy Group (WEC - Free Report) came up with fourth-quarter 2021 earnings per share of 71 cents, which beat the Zacks Consensus Estimate of 68 cents by 4.41%.
WEC Energy’s long-term earnings growth is 6%. The Zacks Consensus Estimate for 2022 earnings per share indicates year-over-year growth of 4.6%.
DTE Energy Company (DTE - Free Report) recorded fourth-quarter 2021 operating earnings per share of $1.05, which surpassed the Zacks Consensus Estimate of 94 cents by 11.7%.
DTE Energy’s long-term earnings growth is 6%. The Zacks Consensus Estimate for 2022 earnings per share indicates year-over-year growth of 0.3%.