Sempra Energy Earnings: Here’s Why the Stock is Up Now

Sempra Energy (NYSE:SRE) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.38%.

Sempra Energy Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 6.12% to $1.04 in the quarter versus EPS of $0.98 in the year-earlier quarter.

Revenue: Rose 26.9% to $2.65 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Sempra Energy reported adjusted EPS income of $1.04 per share. By that measure, the company missed the mean analyst estimate of $1.31. It beat the average revenue estimate of $2.44 billion.

Quoting Management: “We are pleased with our solid second-quarter operating results,” said Debra L. Reed, chairman and CEO of Sempra Energy. “With our California utilities’ rate case now behind us and the strong performance across all of our businesses, we remain on-track to meet our updated earnings guidance for the year.”

Key Stats (on next page)…

Revenue increased 0.04% from $2.65 billion in the previous quarter. EPS increased 25.3% from $0.83 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.44 to a profit $1.23. For the current year, the average estimate has moved down from a profit of $4.51 to a profit of $4.45 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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