financetom
Business
financetom
/
Business
/
Dominion Energy posts fall in second-quarter profit on higher expenses
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Dominion Energy posts fall in second-quarter profit on higher expenses
Aug 1, 2024 5:47 AM

Aug 1 (Reuters) - Dominion Energy ( D ) posted a fall in

second-quarter profit on Thursday, as higher interest and

maintenance costs weighed on the electric utility.

Higher-for-longer interest rates continue to weigh on the

utilities sector, making dividend-paying stocks such as REITs

and utilities less attractive and driving up borrowing costs.

The company's interest expenses rose to $469 million in the

second quarter, from $395 million a year earlier.

More than 4.5 million customers across 13 states energize

their homes and businesses with electricity or natural gas from

the Dominion Energy ( D ).

Total operating expenses, which include maintenance costs,

rose 4% to $2.68 billion in the April-June quarter.

Dominion reaffirmed its full-year operating earnings

forecast of $2.62 to $2.87 per share, compared with analysts'

estimates of $2.79, according to LSEG data.

The Richmond, Virginia-based firm posted a net income of

$572 million, or 65 cents per share, in the April-June quarter,

compared to $583 million, or 67 cents per share last year.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Cathie Wood Dumps Block Shares As Bitcoin Hits Fresh All-Time High, Buys Baidu Amid Robot Car Buzz
Cathie Wood Dumps Block Shares As Bitcoin Hits Fresh All-Time High, Buys Baidu Amid Robot Car Buzz
May 26, 2025
On Thursday, Cathie Wood-led Ark Invest made significant trades involving Block Inc. ( XYZ )  and Baidu Inc. ( BIDU ) .  The investment firm sold shares of the Jack Dorsey-led company through its ARK Next Generation Internet ETF while acquiring shares of Baidu ( BIDU ) through the ARK Autonomous Technology & Robotics ETF . The Block Trade Ark Invest executed a substantial sale...
Exclusive-US panel divided over Nippon Steel bid for US Steel but path forward seen, says official
Exclusive-US panel divided over Nippon Steel bid for US Steel but path forward seen, says official
May 26, 2025
WASHINGTON (Reuters) -A powerful national security panel was divided in its recommendation to President Donald Trump on the national security implications of Nippon Steel's bid for U.S. Steel, a White House official told Reuters on Thursday. However, a majority of the agencies that make up the Committee on Foreign Investment in the U.S. believe that any national security risks posed...
BRIEF-Patria Investments agrees to buy six real estate funds from Genial Investimentos
BRIEF-Patria Investments agrees to buy six real estate funds from Genial Investimentos
May 26, 2025
May 22 (Reuters) - Patria Investments Ltd ( PAX ): * SIGNS AGREEMENT TO BUY SIX REAL ESTATE FUNDS CURRENTLY MANAGED BY GENIAL INVESTIMENTOS - STATEMENT * SAYS DEAL TO ADD 2.5 BILLION REAIS IN ASSETS UNDER MANAGEMENT TO ITS REAL ESTATE PORTFOLIO Further company coverage: (Reporting by Sao Paulo newsroom) ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved