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Dominion Q1 earnings down YOY but beat estimates


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Dominion Q1 earnings down YOY but beat estimates

DominionResources Inc. posted first-quarter 2016 operating earnings of $572million, or 96 cents per share, beating the S&P Global Market Intelligencenormalized EPS estimate by 2 cents. The result is below the first-quarter 2015operating earnings of $584 million, or 99 cents per share.

The company said May 4 that its books were impacted bymilder weather and the absence of a farmout agreement. The company continues totarget full-year operating EPS of $3.60 to $4.00, with second-quarter 2016operating EPS targeted at 65 cents to 75 cents.

Dominion Resources' primary business segments reportedyear-over-year decreases in first-quarter 2016 earnings.

DominionEnergy Inc. earnings narrowed $41 million, or 8 cents per share,year over year to $186 million, or 31 cents per share. Dominion Virginia Power'sfirst-quarter 2016 earnings narrowed $20 million, or 4 cents per share, yearover year to $120 million, or 20 cents per share. earningswere down $17 million, or 3 cents per share, year over year to $245 million, 41cents per share.

On a GAAP basis, Dominion Resources posted first-quarter2016 earnings of $524 million, or 88 cents per share, compared with $536million, or 91 cents per share, in the opening months of 2015.

The company has scheduled a conference call for 10 a.m. ETon May 4 to discuss its results.

Dominion Virginia Power is known legally as