Categories AlphaGraphs, Earnings, Energy

Sempra Energy tops estimates on Q4 results

Sempra Energy (SRE) topped market expectations on revenue and earnings for the fourth quarter of 2018. Total revenues rose 10% year-over-year to $3.2 billion.

On a GAAP basis, the company reported net earnings of $864 million, or $3.03 per share, compared to a net loss of $501 million, or $1.99 per share, last year. Adjusted net income was $431 million or $1.56 per share.

An infographic on Sempra Energy's fourth quarter 2018 earnings results
Sempra Energy Q4 2018 Earnings Infographic

For 2019, Sempra expects adjusted EPS of $5.70 to $6.30.

Last week, the company declared an increase of approx. 8% in its dividend to $3.87 per common share on an annualized basis.

Earlier this month, Sempra announced the sale of its remaining wind operating and development assets in order to complete the divestiture of its US renewables business. The company is expected to receive approx. $2.5 billion in cash proceeds from the sales of its solar, wind and natural gas assets.

Also see: Sempra Energy Q4 2018 Earnings Conference Call Transcript

Sempra also announced the sale of its equity interests in its South American businesses last month and will launch the formal sale process in March. During the quarter, the company entered into several LNG agreements and, in particular, expects to start generating earnings from the Cameron LNG project in mid-2019.

The stock rose 2% in premarket hours on Tuesday.


Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment

Viewing Highlight