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Dominion Energy (D) to Post Q4 Earnings: What's in Store?
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Dominion Energy Inc. (D - Free Report) is scheduled to release fourth-quarter 2023 earnings on Feb 22, before market open. In the last reported quarter, the utility delivered a negative earnings surprise of 1.28%.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
Dominion Energy’s fourth-quarter earnings are likely to have benefited from regulated investments, higher sales volume and efficient cost management. Economic development, population growth in Virginia and South Carolina, and an increase in customers in its electric distribution business are likely to have boosted earnings in the fourth quarter.
However, higher DD&A expenses, the planned outage of Millstone Power Station, still high interest rates, and DEV rider rate reduction are all likely to have negatively impacted the company’s fourth-quarter results.
Expectations
Dominion Energy expects fourth-quarter earnings per share (EPS) of 35 cents. The company reported EPS of $1.06 in the year-ago quarter. The Zacks Consensus Estimate for the same is pegged at 40 cents, indicating a decline of nearly 62.3% from the year-ago reported figure.
Quantitative Model Predicts
Our proven model predicts 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. This is exactly the case here, as you will see below.
Earnings ESP: The company’s Earnings ESP is +0.63%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Other 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 for the to-be-reported quarter.
ONE Gas (OGS - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter 2023 earnings on Feb 21, after the market close. It has an Earnings ESP of +0.26% and presently carries a Zacks Rank of 3.
Long-term (three to five years) earnings growth of the company is 5%. The Zacks Consensus Estimate for fourth-quarter EPS remained the same in the last 60 days.
Sempra Energy (SRE - Free Report) is likely to pull off an earnings beat when it reports fourth-quarter 2023 earnings on Feb 27, before market open. It has an Earnings ESP of +1.18% and a Zacks Rank of 3 at present.
Long-term earnings growth of the company is 4.95%. The Zacks Consensus Estimate for fourth-quarter EPS reflects growth of 1.8% in the last 60 days.
Southwest Gas (SWX - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter earnings on Feb 28. It has an Earnings ESP of +1.45% and carries a Zacks Rank of 3 at present.
Long-term earnings growth of the company is 5%. The Zacks Consensus Estimate for fourth-quarter EPS remained the same in the last 30 days.
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Dominion Energy (D) to Post Q4 Earnings: What's in Store?
Dominion Energy Inc. (D - Free Report) is scheduled to release fourth-quarter 2023 earnings on Feb 22, before market open. In the last reported quarter, the utility delivered a negative earnings surprise of 1.28%.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
Dominion Energy’s fourth-quarter earnings are likely to have benefited from regulated investments, higher sales volume and efficient cost management. Economic development, population growth in Virginia and South Carolina, and an increase in customers in its electric distribution business are likely to have boosted earnings in the fourth quarter.
However, higher DD&A expenses, the planned outage of Millstone Power Station, still high interest rates, and DEV rider rate reduction are all likely to have negatively impacted the company’s fourth-quarter results.
Expectations
Dominion Energy expects fourth-quarter earnings per share (EPS) of 35 cents. The company reported EPS of $1.06 in the year-ago quarter. The Zacks Consensus Estimate for the same is pegged at 40 cents, indicating a decline of nearly 62.3% from the year-ago reported figure.
Quantitative Model Predicts
Our proven model predicts 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. This is exactly 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 +0.63%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Other 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 for the to-be-reported quarter.
ONE Gas (OGS - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter 2023 earnings on Feb 21, after the market close. It has an Earnings ESP of +0.26% and presently carries a Zacks Rank of 3.
Long-term (three to five years) earnings growth of the company is 5%. The Zacks Consensus Estimate for fourth-quarter EPS remained the same in the last 60 days.
Sempra Energy (SRE - Free Report) is likely to pull off an earnings beat when it reports fourth-quarter 2023 earnings on Feb 27, before market open. It has an Earnings ESP of +1.18% and a Zacks Rank of 3 at present.
Long-term earnings growth of the company is 4.95%. The Zacks Consensus Estimate for fourth-quarter EPS reflects growth of 1.8% in the last 60 days.
Southwest Gas (SWX - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter earnings on Feb 28. It has an Earnings ESP of +1.45% and carries a Zacks Rank of 3 at present.
Long-term earnings growth of the company is 5%. The Zacks Consensus Estimate for fourth-quarter EPS remained the same in the last 30 days.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.