ETFs In Focus After Utilities Report Q4 Results

This earnings season has been a mixed bag for utilities, with some beating market expectations and others falling short of the same.

We will now discuss the performance of three companies, Dominion Energy D, NextEra Energy NEE and Duke Energy DUK.

Dominion Energy

Dominion Energy reported a year-over-year increase of 4.2% in net quarterly revenues to $3.210 billion compared from $3.082 billion in the year-ago quarter. Revenues for full-year 2017 increased to $12.586 billion from $11.737 billion in 2016.

Q4 Performance

Dominion reported non-GAAP earnings per share of 91 cents, which surpassed the Zacks Consensus Estimate of 88 cents but came in lower than the year-ago figure of 99 cents. Revenues of $3.210 billion surpassed the consensus mark of $3.208 billion. Income from operations increased to $1.0 billion from $819 million in the year-ago quarter.

Operating Earnings

Power Delivery reported operating earnings of $141 million, increasing from $121 million a year ago.

Power Generation registered operating earnings of $311 million, decreasing from $331 million a year ago.

Gas Infrastructure reported operating earnings of $285 million, increasing from $243 million a year ago.

Corporate and other incurred operating loss of $152 million compared with a loss of $77 million a year ago.

Outlook

Dominion Energy expects 2018 operating earnings to be in the range of $3.80-$4.25 per share.

NextEra Energy

NextEra Energy reported an 8.4% year-over-year increase in net quarterly revenues. While it beat the Zacks Consensus Estimate on revenues, it missed the same on earnings. Revenues for full-year 2017 increased to $17.195 billion from $16.155 billion in 2016.

Q4 Performance

NextEra Energy reported non-GAAP earnings per share (EPS) of $1.25, increasing 3.3% year over year but missing the consensus mark of $1.31. However, revenues of $4.010 billion surpassed the consensus estimate of $3.910 billion.

The company reported operating income of $236 million, reflecting a decrease from $926 million a year ago.

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