jump to example.com
 

Dominion Energy announces second-quarter earnings

Dominion Energy announced unaudited reported earnings determined in accordance with Generally Accepted Accounting Principles (reported earnings) for the three months ended June 30, 2017, of $390 million ($0.62 per share) compared with earnings of $452 million ($0.73 per share) for the same period in 2016.

dominion energyOperating earnings for the three months ended June 30, 2017, were $421 million ($0.67 per share), compared to operating earnings of $441 million ($0.71 per share) for the same period in 2016.  Operating earnings are defined as reported earnings adjusted for certain items.

The principal difference between reported earnings and operating earnings for the quarter were transition and integration costs associated with the Dominion Energy Questar combination.

Dominion Energy uses operating earnings as the primary performance measurement of its earnings guidance and results for public communications with analysts and investors.  Dominion Energy also uses operating earnings internally for budgeting, for reporting to the Board of Directors, for the company’s incentive compensation plans and for its targeted dividend payouts and other purposes. Dominion Energy management believes operating earnings provide a more meaningful representation of the company’s fundamental earnings power.

Thomas F. Farrell II, chairman, president and chief executive officer, said:

 

Subscribe to AFP: Come on, you know you want to

You can subscribe to Augusta Free Press if you want to. If you don't, we're still cool.

Augusta Free Press: Your local marketing specialists

Augusta Free Press brings your ideas on marketing and what you want and need to do to reach customers and clients to reality.

1K and counting: Need a new business website? Hire AFP

Augusta Free Press has built more than 1,000 websites for clients across the Shenandoah Valley and Central Virginia. With a track record of more than a decade in website design, let AFP guide you through the process.

Advertise on AFP through Dec. 31 for $500

Our readership continues to grow on AugustaFreePress.com, and we want your business to feel that love. We're offering a deal to advertise in the fourth quarter for a reduced rate.

Help Wanted: Craft Beertender and Cellar Technician

Stable Craft Brewing in Waynesboro, Va., has immediate openings for Craft Beertender and Cellar Technician.

“We are pleased with our financial performance in the second quarter with operating earnings near the top of our guidance range.

“We continue to execute with strong operational and safety performance, and have seen significant progress on our growth investments that will total over $4 billion this year.

“Construction of Greensville County Power Station is proceeding on time and on budget.  The project is now about 47 percent complete and expected to achieve commercial operations in late 2018.

“The Cove Point Liquefaction project is 95 percent complete.  In July, we received FERC authorization for hydrocarbon entry into four additional project areas.  Over 90 percent of the project’s systems are now in the commissioning phase.  Our work continues on-time and on-budget and we expect to have this significant project in-service late this year.

“FERC released the Final Environmental Impact Statement for the Atlantic Coast Pipeline and Supply Header projects.  The favorable environmental report provides us with a clear path forward for final approval of one of the largest, most important natural gas infrastructure projects in the company’s history.  We remain on track to start construction on both projects later this year.”

 
Discussion
 
Recent Posts