Dominion Energy (D) to Report Q1 Earnings: What’s in Store?

Dominion Energy Inc.


D

is scheduled to release first-quarter 2021 earnings on May 4, before the market opens. This utility delivered an earnings surprise of 5.2% in the last reported quarter.

Let’s see how things have shaped up before the upcoming earnings announcement.

Factors to Note

Dominion Energy’s first-quarter earnings are likely to have been impacted by two damaging ice storms that hit its service territories during the quarter, resulting in outages and increased operating expenses.

Repurchase of shares in 2020 and the resultant reduction of shares outstanding are likely to have positively impacted first-quarter earnings. Moreover, addition to the company’s electric and natural gas customer base is expected to have boosted demand and first-quarter earnings.

Expectation

Dominion Energy expects first-quarter earnings in the range of $1-$1.15 per share. The Zacks Consensus Estimate for the same is pegged at $1.08 per share, indicating a decline of 0.9% from the year-ago reported figure.

Quantitative Model Predicts

Our proven model does not conclusively predict an earnings beat for Dominion Energy this time around. The combination of a positive

Earnings ESP

and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here as you will see below.

Earnings ESP

: The company’s Earnings ESP is 0.00%.

You can uncover the best stocks to buy or sell before they’re reported with our

Earnings ESP Filter

.

Zacks Rank:

Currently, it carries a Zacks Rank #3.

Stocks to Consider

Investors can consider the following players from the same

industry

that have the right combination of elements to post an earnings beat in the to-be-reported quarter.

Avangrid Inc

.

AGR

is slated to release first-quarter 2021 results on May 3. It has an Earnings ESP of +1.67% and a Zacks Rank #3. You can see


the complete list of today’s Zacks #1 Rank stocks here


.

CenterPoint Energy


CNP

is slated to release first-quarter 2021 results on May 6. It has an Earnings ESP of +4.52% and a Zacks Rank #3.

Duke Energy Corporation


DUK

is slated to release first-quarter 2021 earnings on May 10. It has an Earnings ESP of +0.16% and a Zacks Rank #3.

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