NEW YORK — Dominion Resources' second-quarter earnings more than doubled on a strong performance from its Dominion Generation unit and growth projects.
Dominion Generation operates in Virginia and North Carolina, as well as a wholesaler in the Midwest.
The energy company earned $413 million, or 70 cents per share. Earnings, adjusted for non-recurring costs, came to 73 cents per share.
The results topped Wall Street expectations by a penny, according to Zacks Investment Research .
The energy company posted revenue of $2.75 billion.
The Richmond, Virginia, company also said higher revenue from growth projects also contributed to the increase.
For the current quarter, Dominion expects its per-share earnings to range from 95 cents to $1.10. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.10.
The company expects full-year earnings in the range of $3.50 to $3.85 per share.
Shares of Dominion Resources Inc. have declined nearly 9 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 2 percent. The stock has risen almost 5 percent in the last 12 months.
Keywords: Dominion Resources, Earnings Report