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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