D Dominion Energy Inc

By Will Feuer

Dominion Energy Inc. posted higher profit for the third quarter as revenue gains outpaced higher costs, which were largely driven by energy-related expenses.

The Richmond, Va.-based energy company reported earnings of $778 million, or 91 cents a share, compared with $654 million, or 79 cents a share, in the same period a year earlier.

Adjusted earnings came to $1.11 a share. Analysts surveyed by FactSet were expecting adjusted earnings of $1.08 a share.

Operating revenue for the three months ended Sept. 30 rose to $4.39 billion from $3.18 billion a year earlier. Analysts were expecting revenue of $3.99 billion, according to FactSet.

Total operating expenses increased to $3.31 billion, up from $2.34 billion in the previous year, largely driven by energy-related purchases.

"Like everyone, we are seeing inflation, supply chain limitations and higher fuel prices--all having an impact on customer rates and our balance sheet strength," Chief Executive Bob Blue said.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

November 04, 2022 08:01 ET (12:01 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.