The 10-second takeaway
For the quarter ended March 31 (Q1), Dominion Resources missed slightly on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew slightly. Non-GAAP earnings per share dropped slightly. GAAP earnings per share was unchanged.
Margins shrank across the board.
Dominion Resources notched revenue of $3.52 billion. The two analysts polled by S&P Capital IQ expected revenue of $3.59 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $0.83. The 13 earnings estimates compiled by S&P Capital IQ predicted $0.90 per share. Non-GAAP EPS of $0.83 for Q1 were 2.4% lower than the prior-year quarter's $0.85 per share. GAAP EPS of $0.86 were the same as the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 39.6%, 210 basis points worse than the prior-year quarter. Operating margin was 26.4%, 210 basis points worse than the prior-year quarter. Net margin was 14.1%, 20 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $3.15 billion. On the bottom line, the average EPS estimate is $0.66.
Next year's average estimate for revenue is $14.06 billion. The average EPS estimate is $3.38.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 618 members out of 666 rating the stock outperform, and 48 members rating it underperform. Among 180 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 167 give Dominion Resources a green thumbs-up, and 13 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 $56.53.
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