Sempra Energy Earnings Cheat Sheet: Revenue and Net Income Grow

S&P 500 (NYSE:SPY) component Sempra Energy (NYSE:SRE) reported higher profit for the third quarter as revenue showed growth. Sempra Energy is an energy services holding company. With its subsidiaries, the company provides electric, natural gas and other energy-rated products and services worldwide. It also focuses on developing energy infrastructure and operating utilities. .

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Sempra Energy Earnings Cheat Sheet for the Third Quarter

Results: Net income for Sempra Energy rose to $296 million ($1.22 per share) vs. $133 million (53 cents per share) in the same quarter a year earlier. This is a more than twofold rise from the year earlier quarter.

Revenue: Rose 21.7% to $2.58 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: SRE was about in line with expectations as the mean analyst estimate of $1.21 per share. It beat the average revenue estimate of $2.06 billion.

Quoting Management: “Based on our excellent results in the third quarter and continued progress on our major projects, we expect to meet our financial and operational objectives for the year,” said Debra L. Reed, chief executive officer of Sempra Energy.

Key Stats:

The company has now seen net income rise in three straight quarters. In the second quarter, net income rose more than twofold and in the first quarter, the figure rose more than twofold.

The company topped expectations last quarter after falling short of forecasts in the second quarter with net income of 97 cents versus a mean estimate of net income of $1 per share.

The company’s revenue has now risen for two straight quarters. In the second quarter, revenue increased 20.6% to $2.42 billion from the year earlier quarter.

Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the fourth quarter has moved up from 96 cents a share to $1 over the last ninety days. Over the past three months, the average estimate for the fiscal year has climbed from $4.21 per to share to $4.22.

Competitors to Watch: MDU Resources Group, Inc. (NYSE:MDU), PG&E Corporation (NYSE:PCG), Northwest Natural Gas (NYSE:NWN), Southwest Gas Corporation (NYSE:SWX), Energy Incorporated (AMEX:EGAS), Dominion Resources, Inc. (NYSE:D), Vectren Corporation (NYSE:VVC), and ACEGAS-APS (NYSE:AEG).

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(Source: Xignite Financials)