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Dominion Energy Inc (NYSE:D) shares are trading higher after the company reported second-quarter FY24 revenue of $3.486 billion, missing the consensus of $3.729 billion.
Operating expenses rose to $2.68 billion from $2.57 billion a year ago.
Adjusted operating earnings rose to $563 million from $310 million in the same period in 2023. Adjusted EPS was $0.65, up from $0.35 a year ago, beating the consensus of $0.56.
As of June-end, the company had cash and cash equivalents of $139 million.
Outlook: The company reaffirmed FY24 operating EPS of $2.62 – $2.87 vs. consensus of $2.79.
The company also maintained FY25 operating EPS of $3.25 – $3.54 vs. consensus of $3.39.
The company also reaffirmed all financial guidance provided at its March 1 investor meeting, including guidance related to earnings, credit, and dividends.
Investors can gain exposure to the stock via BNY Mellon ETF Trust BNY Mellon Global Infrastructure Income ETF (BATS:BKGI) and WBI Power Factor High Dividend ETF (NYSE:WBIY).
Price Action: Dominion Energy shares are up 2.21% at $54.64 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
