Advertisement
UK markets closed
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • FTSE 250

    19,884.73
    +74.07 (+0.37%)
     
  • AIM

    743.26
    +1.15 (+0.15%)
     
  • GBP/EUR

    1.1716
    +0.0023 (+0.19%)
     
  • GBP/USD

    1.2625
    +0.0003 (+0.03%)
     
  • Bitcoin GBP

    55,398.50
    -532.90 (-0.95%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • CAC 40

    8,205.81
    +1.00 (+0.01%)
     

Dominion Energy (D) to Post Q1 Earnings: What's in Store?

Dominion Energy Inc. D is scheduled to release first-quarter 2023 earnings on May 5, before market open. In the last reported quarter, the utility delivered an earnings surprise of 2.91%.

Let’s see how things have shaped up before the upcoming earnings announcement.

Factors to Note

Dominion Energy’s first-quarter earnings are likely to have benefited from regulated investments and attractive customer growth, boosting demand for its services. The expected increase in Millstone Power plant margin is likely to have boosted first-quarter earnings.

However, higher interest rates, operation and maintenance expenses and return to normal weather are expected to have adversely impacted earnings in the first quarter.

Expectations

Dominion Energy expects earnings of 97 cents to $1.12 per share for the first quarter. The Zacks Consensus Estimate for the same is pegged at $1.01, indicating a decline of 14.41% from the year-ago reported figure.

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. That is not the case here, as you will see below.

Dominion Energy Inc. Price and EPS Surprise

Dominion Energy Inc. Price and EPS Surprise
Dominion Energy Inc. Price and EPS Surprise

Dominion Energy Inc. price-eps-surprise | Dominion Energy Inc. Quote

ADVERTISEMENT

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: The company currently carries a Zacks Rank #3.

Stocks to Consider

Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat for the to-be-reported quarter.

Eversource Energy ES is likely to come up with an earnings beat when it reports first-quarter results on May 3, after market close. It has an Earnings ESP of +0.49% and a Zacks Rank #3 at present.

ES’ long-term (three- to five-year) earnings growth rate is pegged at 6.34%. The Zacks Consensus Estimate for the company’s 2023 earnings is pinned at $4.36 per share, indicating a year-over-year increase of 6.6%.

PPL Corporation PPL is likely to come up with an earnings beat when it reports first-quarter results on May 4. It has an Earnings ESP of +7.69% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

PPL’s long-term earnings growth rate is pegged at 7.42%. The Zacks Consensus Estimate for PPL’s 2023 earnings is pinned at $1.58 per share, indicating year-over-year growth of 12.06%.

Brookfield Renewable Partners BEP is likely to come up with an earnings beat when it reports first-quarter results on May 5, before market open. It has an Earnings ESP of +115.39% and a Zacks Rank #3 at present.

The 2023 bottom-line estimate for BEP is pegged at a loss of 3 cents per unit, implying year-over-year growth of 95%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

PPL Corporation (PPL) : Free Stock Analysis Report

Dominion Energy Inc. (D) : Free Stock Analysis Report

Eversource Energy (ES) : Free Stock Analysis Report

Brookfield Renewable Partners L.P. (BEP) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research