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

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard

Add Comment
Viewing Highlight