Dominion Energy First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Dominion Energy (NYSE:D) First Quarter 2024 Results

Key Financial Results

• Revenue: US$3.63b (down 31% from 1Q 2023).
• Net income: US$560.0m (down 43% from 1Q 2023).
• Profit margin: 15% (down from 19% in 1Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.67 (down from US$1.18 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Dominion Energy EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 9.0%. Earnings per share (EPS) exceeded analyst estimates by 37%.

Looking ahead, revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Integrated Utilities industry in the US.

Performance of the American Integrated Utilities industry.

The company's share price is broadly unchanged from a week ago.

Valuation

Our analysis of these results suggests Dominion Energy may be overvalued based on 6 important criteria we look at. Click here to find out what a fair price for the stock might be and where analysts see the share price heading over the next year.

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