Dominion Energy (D) to Report Q2 Earnings: What’s in Store?

Dominion Energy D is expected to beat earnings estimates when it reports second-quarter results on Aug 1, 2018 before the opening bell. In the last reported quarter, the utility company delivered a positive earnings surprise of 3.41%.

Here is What Our Quantitative Model Predicts

A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat estimates. Our model shows that Dominion Energy is likely to beat on earnings in the soon-to-be-reported quarter as it possesses both the components.

Earnings ESP: The company’s Earnings ESP is +0.84%.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Currently, Dominion Energy carries a Zacks Rank #2, which when combined with a positive Earnings ESP, increases the possibility of an earnings beat. You can see the complete list of today’s Zacks #1 Rank stocks here

We caution against stocks with a Zacks Rank #4 or 5 (Sell rated) going into the earnings announcement, especially when the company is seeing negative estimate revision.

Factors to Consider

Dominion Energy expects its second-quarter earnings in the range of 70-80 cents per share compared with 67 cents in the year-ago quarter.

Its second-quarter 2018 earnings are expected to benefit from a return to normal weather, the Cove Point Liquefaction project and absence of refueling outage at Millstone. However, higher share count and lower solar tax credits are likely to offset these positives to some extent.

Other Stocks to Consider

In addition to Dominion Energy, investors may also consider the following companies from the same industry that have the right combination of elements to beat estimates in the quarter to be reported:

Eversource Energy ES has an Earnings ESP of +1.06% and a Zacks Rank #2. The company is expected to report second-quarter 2018 earnings on Aug 1.

Duke Energy Corporation DUK has an Earnings ESP of +0.52% and a Zacks Rank #2. The company is slated to report second-quarter 2018 results on Aug 2.

Exelon Corporation EXC has an Earnings ESP of +0.39% and a Zacks Rank #2. The company is expected to report second-quarter 2018 numbers on Aug 1.

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