Sempra Energy (SRE - Free Report) is slated to report fourth-quarter and full-year 2023 results on Feb 27, before the opening bell.
The company delivered an earnings surprise of 6.93% in the last reported quarter. SRE has a trailing four-quarter average earnings surprise of 9.03%.
Factors to Note
Sempra’s service territories witnessed warmer-than-normal temperatures during the October-December period. Such a weather pattern is expected to have boosted the electricity demand for cooling purposes in this fall. This is likely to have contributed favorably to SRE’s fourth-quarter revenues.
Favorable base rates observed in prior quarters, customer growth and cost-saving initiatives are likely to have benefited Sempra’s fourth-quarter earnings. Moreover, growth in multiple areas of Oncor service territory and the premier energy-producing region, the Permian Basin, might have also contributed positively.
However, higher interest expenses, transportation tariff and lower income tax benefits are likely to have negatively impacted the company’s bottom line in the to-be-reported quarter.
Q4 Expectations
The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $4.03 billion. This indicates a 16.7% increase from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.13 per share, indicating a 4.2% decline from the prior-year reported figure.
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Sempra Energy (SRE - Free Report) is slated to report fourth-quarter and full-year 2023 results on Feb 27, before the opening bell.
The company delivered an earnings surprise of 6.93% in the last reported quarter. SRE has a trailing four-quarter average earnings surprise of 9.03%.
Factors to Note
Sempra’s service territories witnessed warmer-than-normal temperatures during the October-December period. Such a weather pattern is expected to have boosted the electricity demand for cooling purposes in this fall. This is likely to have contributed favorably to SRE’s fourth-quarter revenues.
Favorable base rates observed in prior quarters, customer growth and cost-saving initiatives are likely to have benefited Sempra’s fourth-quarter earnings. Moreover, growth in multiple areas of Oncor service territory and the premier energy-producing region, the Permian Basin, might have also contributed positively.
However, higher interest expenses, transportation tariff and lower income tax benefits are likely to have negatively impacted the company’s bottom line in the to-be-reported quarter.
Q4 Expectations
The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $4.03 billion. This indicates a 16.7% increase from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.13 per share, indicating a 4.2% decline from the prior-year reported figure.
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Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
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