Dominion Energy Sees at Least $4.25/Share in 2020 Adjusted Profit
February 11 2020 - 08:19AM
Dow Jones News
By Micah Maidenberg
Dominion Energy Inc. on Tuesday said it believes it will earn
$4.25 to $4.60 a share in profit after adjustments this year.
That forecast would put adjusted profit in 2020 ahead of last
year's earnings of $4.24 a share.
"Positive drivers include regulated investment growth across
electric and gas businesses, lower financing costs due to lower
average debt balances" and other factors, the utility said.
But the company faces challenges related to increased minority
interest costs tied to a recapitalization of the Cove Point, Md.,
gas liquefaction plant, two planned refueling outages at a facility
that generates power for states in New England and lower New
England capacity prices.
First-quarter adjusted earnings are expected to range from $1.05
to $1.25 a share.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
February 11, 2020 08:04 ET (13:04 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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