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What's in the Cards for Dominion Energy's (D) Q3 Earnings?
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Dominion Energy Inc. (D - Free Report) is scheduled to release third-quarter 2020 earnings on Nov 5, before the market opens. This utility delivered an earnings surprise of 1.2% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
The company generates a substantial portion of regulated electric and gas revenues from residential customers. With more people preferring to stay at home to prevent the coronavirus spread, electricity demand from the residential group increased, which is likely to have aided its third-quarter performance. Warmer summer temperature in July is also expected to have boosted demand in the third quarter.
However, higher share count and lower sales to commercial customers in the third quarter are expected to have offset these positives to some extent. Severe storms lashed its service territories during the third quarter, which could have increased operating expenses related to maintenance and repair of damaged infrastructure.
Expectation
Dominion Energy expects second-quarter earnings in the range of 85 cents to $1.05 per share. The Zacks Consensus Estimate for the same is pegged at $1.00 per share, indicating a decline of 15.3% from the year-ago reported figure.
Our proven model does not conclusively predict an earnings beat for Dominion Energy this time around. The combination of a positive Earnings ESP 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.
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 #2.
Stocks to Consider
Investors can consider the following players from the same sector that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
SJW Group (SJW - Free Report) is slated to release third-quarter 2020 results on Nov 4. It has an Earnings ESP of +2.15% and a Zacks Rank #3.
BCE Inc. (BCE - Free Report) is slated to release third-quarter 2020 results on Nov 5. It has an Earnings ESP of +7.27% and a Zacks Rank #3.
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Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early. See Zacks' 3 Best Stocks to Play This Trend >>
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What's in the Cards for Dominion Energy's (D) Q3 Earnings?
Dominion Energy Inc. (D - Free Report) is scheduled to release third-quarter 2020 earnings on Nov 5, before the market opens. This utility delivered an earnings surprise of 1.2% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
The company generates a substantial portion of regulated electric and gas revenues from residential customers. With more people preferring to stay at home to prevent the coronavirus spread, electricity demand from the residential group increased, which is likely to have aided its third-quarter performance. Warmer summer temperature in July is also expected to have boosted demand in the third quarter.
However, higher share count and lower sales to commercial customers in the third quarter are expected to have offset these positives to some extent. Severe storms lashed its service territories during the third quarter, which could have increased operating expenses related to maintenance and repair of damaged infrastructure.
Expectation
Dominion Energy expects second-quarter earnings in the range of 85 cents to $1.05 per share. The Zacks Consensus Estimate for the same is pegged at $1.00 per share, indicating a decline of 15.3% from the year-ago reported figure.
Dominion Energy Inc. Price and EPS Surprise
Dominion Energy Inc. price-eps-surprise | Dominion Energy Inc. Quote
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Dominion Energy this time around. The combination of a positive Earnings ESP 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.
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 #2.
Stocks to Consider
Investors can consider the following players from the same sector that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Pampa Energia SA (PAM - Free Report) is slated to release third-quarter 2020 results soon. It has an Earnings ESP of +1,537.50% and sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
SJW Group (SJW - Free Report) is slated to release third-quarter 2020 results on Nov 4. It has an Earnings ESP of +2.15% and a Zacks Rank #3.
BCE Inc. (BCE - Free Report) is slated to release third-quarter 2020 results on Nov 5. It has an Earnings ESP of +7.27% and a Zacks Rank #3.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>