The 10-second takeaway
For the quarter ended March 31 (Q1), Dominion Resources whiffed on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share increased.
Margins expanded across the board.
Dominion Resources booked revenue of $3.49 billion. The three analysts polled by S&P Capital IQ looked for net sales of $3.99 billion on the same basis. GAAP reported sales were 14% lower than the prior-year quarter's $4.06 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.85. The nine earnings estimates compiled by S&P Capital IQ averaged $0.86 per share. GAAP EPS of $0.86 for Q1 were 4.9% higher than the prior-year quarter's $0.82 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 39.3%, 380 basis points better than the prior-year quarter. Operating margin was 26.2%, 110 basis points better than the prior-year quarter. Net margin was 14.1%, 230 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $3.35 billion. On the bottom line, the average EPS estimate is $0.67.
Next year's average estimate for revenue is $15.21 billion. The average EPS estimate is $3.21.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 606 members out of 649 rating the stock outperform, and 43 members rating it underperform. Among 166 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 155 give Dominion Resources a green thumbs-up, and 11 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Dominion Resources is hold, with an average price target of $51.44.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Motley Fool newsletter services have recommended buying shares of Dominion Resources. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.