Dominion Resources, Inc. Exceeds Earnings Expectations

Dominion Resources, (NYSE: D  ) announced its Q1 2014 earnings today, exceeding expectations.

The utility reported adjusted earnings per share (EPS) of $1.04, $0.07 above analyst estimates and a full $0.21 above Q1 2013 adjusted EPS. Dominion Resources, had previously provided investors with a Q1 2014 earnings guidance range of $0.85 to $1.00.

"While favorable weather in our electric service territory was a benefit of about 5 cents per share, we are pleased that other factors, including improved merchant generation margins, higher ancillary service revenues and lower operating expenses, produced results that were above expectations," said Dominion Resources Chairman, President, and CEO Thomas Farrell II in a statement today.

Farrell also noted significant non-financial progress for Dominion this past quarter. Its Cove Point Liquefaction project (for LNG exports) jumped another regulatory hurdle, Dominion took non-binding steps toward building a pipeline to connect Virginia and North Carolina to the Marcellus and Utica Shale areas, and the company continues to push ahead on new power projects and solar acquisitions.

Taking a closer look at subsidiaries, Dominion's powerhouse generation unit saw earnings jump $55 million to $309 million. Its Dominion Energy gas business improved earnings by $29 million to reach $208 million, while regulated Dominion Virginia Power added on $15 million to hit $131 million in earnings.

Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2936871, ~/Articles/ArticleHandler.aspx, 8/27/2015 5:55:36 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Justin Loiseau

Energy and Macroeconomic Specialist keeping investors up to date with macro news, utilities, and good companies doing good things.

Today's Market

updated Moments ago Sponsored by:
DOW 16,654.77 369.26 2.27%
S&P 500 1,987.66 47.15 2.43%
NASD 4,812.71 115.17 2.45%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

8/27/2015 4:00 PM
D $71.21 Up +0.59 +0.84%
Dominion Resources CAPS Rating: ****