Dominion Energy recorded a smaller profit in the second quarter as cost growth outpaced revenue growth.

The electric-services company posted a profit of $340 million, or 37 cents a share, compared with $760 million, or 88 cents a share, in the same quarter a year earlier.

Stripping out one-time items, adjusted earnings were 79 cents a share. Analysts polled by FactSet had been expecting 68 cents a share.

Operating revenue climbed almost 18% to $4.48 billion, ahead of analyst projections for $4.04 billion.

Total operating expenses meanwhile surged 53% to $4.15 billion.