Summary
Dominion Energy, Inc. (D) reported solid financial performance for the first quarter of 2017 compared to the same period in 2016. Net income attributable to Dominion increased by 21% to $632 million, driven by the successful integration of the Dominion Questar acquisition, positive impacts from the PJM capacity performance market, and favorable customer usage patterns. Diluted Earnings Per Share (EPS) also saw a significant rise of 15% to $1.01. Operationally, the company benefited from increased electric utility operations and regulated natural gas transmission and distribution activities. While some expenses rose, particularly due to the Questar acquisition and increased salaries, the overall revenue growth outpaced these increases. Dominion maintains a strong liquidity position with significant unused capacity under its credit facilities, supporting its ongoing capital expenditure plans and dividend payments. Investors should note the ongoing regulatory and environmental matters, which are being actively managed by the company.
Financial Highlights
48 data points| Revenue | $3.38B |
| Operating Expenses | $2.31B |
| Operating Income | $1.08B |
| Net Income | $632.00M |
| EPS (Basic) | $1.01 |
| EPS (Diluted) | $1.01 |
| Shares Outstanding (Basic) | 628.10M |
| Shares Outstanding (Diluted) | 628.10M |
Key Highlights
- 1Net income attributable to Dominion increased by 21% year-over-year to $632 million.
- 2Diluted EPS rose 15% to $1.01, reflecting strong operational performance.
- 3The Dominion Questar Combination significantly contributed to revenue growth and benefited results.
- 4Virginia Power reported a 35% increase in net income, driven by PJM capacity market benefits and customer usage.
- 5Dominion Gas Holdings saw a 10% increase in net income, aided by growth in gas transportation and storage.
- 6Strong operating cash flows increased by $168 million, supporting capital expenditures and dividends.
- 7The company maintained ample liquidity with $2.8 billion in unused credit facility capacity.