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Dominion Energy (D) Tops Q4 Earnings, Issues 2018 Guidance
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Dominion Energy Inc. (D - Free Report) reported fourth-quarter 2017 operating earnings of 91 cents per share, beating the Zacks Consensus Estimate of 88 cents by 3.4%. Earnings were within management’s guidance of 80 cents to $1.00 per share.
However, operating earnings decreased 8.1% from 99 cents reported a year ago. The decline was primarily due to lower contribution from its Power Generation segment.
GAAP earnings were $2.25 per share compared with 73 cents in the year-ago quarter. The difference between GAAP and operating earnings was due to a one-time tax benefit associated with the Tax Cuts and Jobs Act.
Total Revenues
Dominion’s total revenues came in at $3,209 million, marginally beating the Zacks Consensus Estimate of $3,208 million. However, quarterly revenues were up 3.4% year over year.
Dominion Energy Inc. Price, Consensus and EPS Surprise
Total operating expenses increased 5.7% year over year to $2,152 million primarily due higher purchased gas prices.
Interest and related charges in the reported quarter were $300 million, up 2.7% from the year-ago quarter.
In the reported quarter, Power Delivery’s electric customer base increased by 25,422 from the prior-year quarter. Electricity consumption volumes also improved 3.8% year over year to 20,278 GWh in the fourth quarter.
Financial Update
Total long-term debt as of Dec 31, 2017 was $30.91 billion compared with $30.23 billion at the end of 2016.
Cash from operating activities in 2017 was $4.56 billion, up 10.6% from $4.12 billion in 2016.
Outlook
In first-quarter 2018, Dominion expects operating earnings of 95 cents to $1.15 per share.
For the full year, Dominion expects earnings in the range of $3.80-$4.25 per share compared with $3.60 in 2017.
American Electric Power Co., Inc. (AEP - Free Report) reported fourth-quarter 2017 operating earnings of 85 cents per share, beating the Zacks Consensus Estimate of 81 cents by 4.9%.
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2017 adjusted earnings of $1.25 per share, lagging the Zacks Consensus Estimate of $1.31 by 4.6%.
Upcoming Release
WEC Energy Group (WEC - Free Report) is scheduled to report its fourth-quarter 2017 on Jan 31. The Zacks Consensus Estimate for the quarter is pegged at 67 cents.
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Dominion Energy (D) Tops Q4 Earnings, Issues 2018 Guidance
Dominion Energy Inc. (D - Free Report) reported fourth-quarter 2017 operating earnings of 91 cents per share, beating the Zacks Consensus Estimate of 88 cents by 3.4%. Earnings were within management’s guidance of 80 cents to $1.00 per share.
However, operating earnings decreased 8.1% from 99 cents reported a year ago. The decline was primarily due to lower contribution from its Power Generation segment.
GAAP earnings were $2.25 per share compared with 73 cents in the year-ago quarter. The difference between GAAP and operating earnings was due to a one-time tax benefit associated with the Tax Cuts and Jobs Act.
Total Revenues
Dominion’s total revenues came in at $3,209 million, marginally beating the Zacks Consensus Estimate of $3,208 million. However, quarterly revenues were up 3.4% year over year.
Dominion Energy Inc. Price, Consensus and EPS Surprise
Dominion Energy Inc. Price, Consensus and EPS Surprise | Dominion Energy Inc. Quote
Highlights of the Release
Total operating expenses increased 5.7% year over year to $2,152 million primarily due higher purchased gas prices.
Interest and related charges in the reported quarter were $300 million, up 2.7% from the year-ago quarter.
In the reported quarter, Power Delivery’s electric customer base increased by 25,422 from the prior-year quarter. Electricity consumption volumes also improved 3.8% year over year to 20,278 GWh in the fourth quarter.
Financial Update
Total long-term debt as of Dec 31, 2017 was $30.91 billion compared with $30.23 billion at the end of 2016.
Cash from operating activities in 2017 was $4.56 billion, up 10.6% from $4.12 billion in 2016.
Outlook
In first-quarter 2018, Dominion expects operating earnings of 95 cents to $1.15 per share.
For the full year, Dominion expects earnings in the range of $3.80-$4.25 per share compared with $3.60 in 2017.
Zacks Rank
Dominion has a Zacks Rank #3 (Hold). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here..
Peer Releases
American Electric Power Co., Inc. (AEP - Free Report) reported fourth-quarter 2017 operating earnings of 85 cents per share, beating the Zacks Consensus Estimate of 81 cents by 4.9%.
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2017 adjusted earnings of $1.25 per share, lagging the Zacks Consensus Estimate of $1.31 by 4.6%.
Upcoming Release
WEC Energy Group (WEC - Free Report) is scheduled to report its fourth-quarter 2017 on Jan 31. The Zacks Consensus Estimate for the quarter is pegged at 67 cents.
Zacks Top 10 Stocks for 2018
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2018?
Last year's 2017 Zacks Top 10 Stocks portfolio produced double-digit winners, including FMC Corp. and VMware which racked up stellar gains of +67.9% and +61%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2018 today >>