ETFs In Focus After Utilities Q2 Results
Shares of Dominion Energy Inc (D - Free Report) closed 1.2% higher at market close on August 2, 2017, owing to better-than-expected earnings. The company reported a year-over-year increase of 8.3% in net quarterly revenues.
Q2 Performance
Dominion reported non-GAAP earnings per share of $0.67 — ahead of the Zacks Consensus Estimate of $0.66 but lower than the year-ago earnings of $0.71. However, revenues of $2.813 billion failed to beat the consensus mark of $2.865 billion. Income from operations increased to $801 million from $781 million a year earlier.
Operating Earnings
Power Delivery reported operating earnings of $127 million, reflecting an increase from $104 million a year ago. Power Generation reported operating earnings of $240 million, reflecting an increase from $171 million a year ago. Gas Infrastructure reported operating earnings of $163 million, reflecting an increase from $162 million a year ago. Corporate and other reported operating loss of $109 million against a gain of $4 million a year ago.
Outlook
Dominion Energy expects full-year 2017 operating earnings to be in the range of $3.40—$3.90 per share and third quarter operating earnings in a band of $0.95—$1.15 per share.
NextEra Energy
Shares of NextEra Energy Inc. (NEE - Free Report) were up 1.66% at market close on July 26, 2017, as the company reported better than expected results. The company reported a 15.37% year-over-year increase in net quarterly revenues. Moreover, it beat the Zacks Consensus Estimate on both earnings and revenue.
Q2 Performance
NextEra Energy reported non-GAAP earnings per share (EPS) of $1.86, increasing 11.37% year over year and beating the Zacks Consensus Estimate of $1.76. Moreover, revenues of $4.404 billion came ahead of the consensus mark of $4.353 billion.
The company reported operating income of $1.285 billion, reflecting an increase from $1.169 billion a year ago.
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