Dominion Energy 3Q Profit Rises as Revenue Growth Offsets Higher Expenses

Dow Jones10-30 19:52

Dominion Energy reported higher quarterly profit as revenue gained, which offset an increase in expenses.

The electric-services company on Friday posted a third-quarter profit of $1.16 billion, or $1.30 a share, compared with $1.01 billion, or $1.16 a share, a year earlier.

Adjusted earnings per share were $1.28, compared with analyst estimates of $1.21, according to FactSet.

Operating revenue rose to $5.62 billion from $4.53 billion, compared with analyst estimates of $4.9 billion.

Operating expenses, meanwhile, rose to $3.78 billion from $3.19 billion a year ago.

For the full year, Dominion Energy said it expects operating earnings per share to land in the top half of its guidance range of $3.45 to $3.69.

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