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

CL Earnings: Key quarterly highlights from Colgate-Palmolive Company’s Q4 2022 financial results

Colgate-Palmolive Company (NYSE: CL) reported fourth quarter 2022 earnings results today. Net sales increased 5% year-over-year to $4.62 billion. Organic sales growth was 8.5%. Net income attributable to Colgate-Palmolive Company was

Key highlights from Chevron Corporation’s (CVX) Q4 2022 earnings results

Chevron Corporation (NYSE: CVX) reported fourth quarter 2022 earnings results today. Total revenues and other income were $56.4 billion compared to $48.1 billion in the year-ago period. Net income attributable

AXP Earnings: All you need to know about American Express’ Q4 2022 earnings results

American Express Company (NYSE: AXP) reported fourth quarter 2022 earnings results. Consolidated total revenues net of interest expense were $14.2 billion, up 17% from a year ago. Net income was

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top