D Dominion Energy Inc

By Micah Maidenberg

Dominion Energy Inc. (D) missed Wall Street targets for second-quarter revenue but beat them on adjusted profit.

Dominion's second-quarter operating revenue rose 29% from the year earlier to $3.97 billion. Analysts had forecast $4.08 billion.

In January, Richmond, Va.-based Dominion completed a merger with South Carolina utility SCANA Corp. The merger affected comparisons with last year's results.

Dominion on Wednesday reported net income of $54 million, or 5 cents a share, down from $449 million, or 69 cents a share, a year earlier.

Second-quarter profit at the utility company, after certain adjustments, was 77 cents a share, a penny more than what analysts were expecting, according to FactSet.

Dominion reported higher operating costs in the quarter. Purchased-gas costs of $227 million were more than triple the amount a year earlier. The company also said its depreciation expense rose.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

July 31, 2019 08:37 ET (12:37 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.