NYSE$D

Dominion Energy Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Dominion Energy's Q4 2019 earnings increased compared to Q4 2018, with GAAP earnings per share of $1.32 and operating earnings per share of $1.18.

Dominion Energy reported Q4 2019 GAAP earnings of $1.32 per share and operating earnings of $1.18 per share. The company's net income attributable to Dominion Energy was $1.099 billion, compared to $641 million for the same period in 2018.

  • Fourth-quarter 2019 GAAP earnings were $1.32 per share.
  • Fourth-quarter 2019 operating earnings were $1.18 per share.
  • Full-year 2019 reported earnings were $1.73 per share.
  • Full-year 2019 operating earnings were $4.24 per share.

Headline financials

Total Revenue

$4.48B

Previous: $3.36B+33.1%
EPS (adj)

$1.18

Previous: $0.89+32.6%
Capital Expenditures

$1.57B

Previous: $1.14B+37.6%
Free Cash Flow

-$78M

Previous: -$81M+3.7%
Net Income

$1.1B

Previous: $641M+71.5%
Operating Income

$1.34B

Previous: $834M+60.8%
Gross Profit

$2.25B

Previous: $1.53B+46.8%
Cash & Equivalents

$135M

Previous: $268M-49.6%
Total Assets

$104B

Previous: $77.9B+33.3%

Revenue & EPS history

Dominion Energy · Revenue · Quarterly

$4.48B

Q4 2019+33.1%vs Q4 2018
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Dominion Energy · $455M total across 4 segments · Q4 2019

  • Dominion Energy Virginia
    $403M
  • Contracted Energy
    $114M
  • Dominion Energy South Carolina
    $98M
  • Corporate & Other
    -$160M

Forward guidance

Dominion Energy expects 2020 operating earnings in the range of $4.25 to $4.60 per share, compared to full-year 2019 operating earnings of $4.24 per share. First-quarter 2020 operating earnings are expected to be in the range of $1.05 to $1.25 per share.

Tailwinds

  • Regulated investment growth across electric and gas businesses
  • Lower financing costs due to lower average debt balances
  • The full-year impact of the Millstone nuclear facility zero-carbon procurement contract
  • Lower depreciation expense associated with an anticipated extension of the useful life assumption for our regulated nuclear plants in Virginia

Headwinds

  • Increased minority interest expense associated with the equity recapitalization of Cove Point
  • Share dilution
  • Two planned refueling outages at Millstone
  • Lower New England capacity prices

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2019

Historical avgQ4 2019

-0.2%

Avg return

Earnings day

-0.4%

Avg return

5 days after

-0.4%

Avg return

30 days after

47%

34 / 72 earnings

Positive

+11.0%

Q3 2023

Best reaction

-9.1%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.9%-4.4%+3.8%
Q4 2025+0.3%-4.3%-8.0%
Q3 2025-1.7%+0.3%+5.5%
Q2 2025+3.4%+4.3%+2.5%
Q1 2025+0.8%+0.6%+4.2%
Q4 2024+0.4%-0.2%-1.8%
Q3 2024-3.2%-4.1%-1.3%
Q2 2024+4.9%+1.3%+4.6%
Q1 2024+0.5%+1.9%+5.4%
Q4 2023+3.4%+3.2%+4.4%
Q3 2023+11.0%+11.8%+13.6%
Q2 2023-3.2%-2.1%-5.6%
Q1 2023-0.1%-0.4%-11.9%
Q4 2022-6.3%-4.8%-13.6%
Q3 2022-9.1%-12.7%-12.7%
Q2 2022-0.2%+0.3%+1.0%
Q1 2022+1.8%-0.7%+0.2%
Q4 2021+0.6%+0.5%+5.1%
Q3 2021-1.1%+0.3%-3.2%
Q2 2021-0.1%+1.1%+3.0%
Q1 2021-3.0%-2.4%-4.6%
Q4 2020-2.6%-0.9%+0.7%
Q3 2020+1.2%+3.7%-8.2%
Q2 2020-1.5%-2.2%-4.3%
Q1 2020+2.5%+3.4%+12.1%
Q4 2019+1.4%+3.4%-15.7%
Q3 2019+0.6%-2.0%+0.7%
Q2 2019+1.2%-0.5%+3.5%
Q1 2019-1.9%-4.1%-2.3%
Q4 2018+1.7%+2.2%+6.5%
Q3 2018-2.1%-1.1%+4.3%
Q2 2018-0.8%+0.1%-1.3%
Q1 2018+2.4%+1.8%-1.3%
Q4 2017-0.2%-4.6%-11.3%
Q3 2017+0.8%+0.2%+4.3%
Q2 2017+1.4%+0.8%+1.3%
Q1 2017+2.2%+1.2%+6.0%
Q4 2016-6.0%-5.3%+0.4%
Q3 2016+1.3%+0.4%-0.3%
Q2 2016-1.2%-3.1%-3.4%
Q1 2016+0.1%
Q4 2015-3.2%
Q3 2015-1.0%
Q2 2015+1.5%
Q1 2015-1.2%
Q4 2014-4.4%
Q3 2014+1.4%
Q2 2014-3.3%
Q1 2014+0.0%
Q4 2013+0.1%
Q3 2013+3.2%
Q2 2013+0.5%
Q1 2013-0.2%
Q4 2012-0.6%
Q3 2012-0.7%
Q2 2012-0.9%
Q1 2012+1.6%
Q4 2011-1.8%
Q2 2011-1.8%
Q3 2011-0.8%
Q1 2011-1.0%
Q4 2010+1.3%
Q3 2010-3.3%
Q2 2010+2.7%
Q1 2010+1.4%
Q4 2007-0.1%
Q4 2009-0.1%
Q3 2008+1.9%
Q3 2009+1.9%
Q2 2009-1.8%
Q4 2008-1.8%
Q2 2008-1.8%

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