Summary
Dominion Energy, Inc. (D) affirmed its financial guidance for the third quarter and full year 2013 in an 8-K filing on September 23, 2013. The company reiterated its projected operating earnings per share for Q3 2013 to be between $0.85 and $0.95, and for the full year 2013 to be between $3.20 and $3.50. This affirmation comes as management prepares to meet with investors and analysts at two upcoming conferences in New York City. Investors should note that Dominion primarily uses "operating earnings" as its key performance metric for guidance and public communications, believing it better represents the company's fundamental earning power. While the company does not provide a GAAP equivalent for its operating earnings guidance, it acknowledges potential differences due to items such as divestitures or accounting changes, the impact of which cannot currently be estimated.
Key Highlights
- 1Dominion Energy affirmed Q3 2013 operating earnings guidance of $0.85 - $0.95 per share.
- 2Full-year 2013 operating earnings guidance remains at $3.20 - $3.50 per share.
- 3Management will participate in investor meetings at the Wolfe Research Conference and Bank of America/Merrill Lynch Conference.
- 4The company emphasizes 'operating earnings' as its primary performance measurement for guidance and public communications.
- 5Dominion believes operating earnings provide a more meaningful representation of fundamental earnings power.
- 6A GAAP equivalent for the operating earnings guidance is not provided due to the inability to estimate the impact of potential items like divestitures or accounting changes.