Dominion Energy Announces Second-Quarter Earnings

RICHMOND, VA (STL.News) Dominion Energy (NYSE: D) today announced an unaudited net loss determined in accordance with Generally Accepted Accounting Principles (reported earnings) for the three months ended June 30, 2020 of $1.2 billion ($1.41 per share) compared with a net gain of $54 million ($0.05 per share) for the same period in 2019.

Operating earnings for the three months ended June 30, 2020, were $706 million ($0.82 per share), compared with operating earnings of $619 million ($0.77 per share) for the same period in 2019.  The company estimates that its second-quarter 2020 operating earnings were negatively impacted by $0.03 per share due to worse than normal weather in its utility service territories.

The difference between GAAP and operating earnings for the three months ended June 30, 2020 was primarily attributable to impairment-related charges associated with the Atlantic Coast Pipeline and Supply Header projects and net gains on our nuclear decommissioning trust funds.  The difference between GAAP and operating earnings for the three months ended June 30, 2019 was primarily attributable to charges related to SCANA merger commitments.

Operating earnings are defined as reported earnings adjusted for certain items. Details of operating earnings as compared to prior periods, business segment results and detailed descriptions of items included in reported earnings but excluded from operating earnings can be found on Schedules 1, 2, 3 and 4 of this release.

NOTE: this is NOT the complete release.

CLICK to VIEW COMPLETE RELEASE

Share

Recent Posts

Federal Reserve Board – Risks Associated with Central Bank Digital Currencies

Federal Reserve highlights research and experimentation undertaken to enhance its understanding of the opportunities and…

12 mins ago

SEC Charges Hertz’s Former CEO, Mark Frissora

SEC Charges Hertz’s Former CEO, Mark Frissora With Aiding and Abetting Company’s Financial Reporting and…

28 mins ago

Missouri MDC offers a number of hunter education opportunities

Missouri MDC offers a number of hunter education opportunities in upcoming months CAPE GIRARDEAU, MO…

50 mins ago

MDC Temporarily Closes Road at Hunnewell Lake

HUNNEWELL, MO (STL.News) The Missouri Department of Conservation (MDC) will temporarily close a section of…

1 hour ago

Kansas City, MO: Statement from U.S. Attorney Tim Garrison

KANSAS CITY, MO (STL.News) U.S. Attorney Tim Garrison participated in today’s press conference with Jackson…

1 hour ago

Missouri Municipal League Announces 2020 MML Innovation Award Winners

JEFFERSON CITY, MO (STL.News) MML is proud to announce the winners of the 2020 MML…

1 hour ago