Dominion Energy Posts Higher 3Q Profit, Revenue
November 04 2022 - 8:16AM
Dow Jones News
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)
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