More on Dominion (D) Q2: net profit drops to $202M

|About: Dominion Resources, Inc. (D)|By:, SA News Editor

Dominion's (D) net profit falls to $202M from $258M.

Operating earnings $355M vs $337M.

Dominion's earnings hurt by "the impact of lower-than-expected sales and lower contributions from Producer Services."

The gap between net and operating profit is due to discontinued operations at Dominion's Brayton Point and Kincaid power stations, and a charge related to the impairment of natural-gas infrastructure assets and the "rescoping" of activities at Producer Services.

Dominion expects Q3 operating EPS of $0.85-$0.95 vs consensus of $1.03.

Remains focused on EPS growth of 5-6% for the year.

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