Dominion Energy Swings to 2Q Profit Amid Lower Costs
By Sabela Ojea
Dominion Energy swung to a profit in the second quarter after booking significantly lower costs.
The electric-services company on Friday posted a net profit of $599 million, or 69 cents a share, compared with a loss of $453 million, or 58 cents a share, for the same period a year earlier.
Stripping out one-time items, earnings per share came in at 53 cents. Analysts polled by FactSet had forecast lower adjusted earnings per share of 47 cents.
Revenue rose to $3.79 billion from $3.60 billion a year ago. Analysts polled by FactSet had forecast revenue of $3.72 billion.
Total operating expenses fell 22% to $3.07 billion.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
August 04, 2023 08:11 ET (12:11 GMT)
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