Sempra Energy’s (SRE - Free Report) second-quarter 2018 adjusted earnings per share (EPS) came in at $1.35, beating the Zacks Consensus Estimate of $1.17 by 15.4%. Earnings also improved 22.7% from the prior-year quarter figure.
Barring one-time items, the company incurred a GAAP loss of $2.11 per share in the quarter, against earnings of $1.03 in the year-ago quarter.
Total Revenues
In the quarter under review, total revenues were $2,564 million, up 1.2% year over year on higher contributions from its energy-related businesses (up 11.3%). However, total revenues lagged the consensus mark of $2,708 million by 5.3%.
Segment Update
San DiegoGas & Electric (SDG&E): Quarterly earnings came down to $146 million from the year-ago bottom line figure of $149 million.
Southern California Gas Company (SoCalGas): The segment registered earnings of $33 million in the second quarter of 2018, down from the year-ago earnings of $58 million.
Sempra South American Utilities: The segment recorded earnings of $44 million in the second quarter, marginally down from $45 million in the prior-year quarter.
Sempra Mexico: The segment recorded net earnings of $97 million, against the net loss of $9 million recorded in the prior-year quarter. The bottom line deteriorated due to the impairment of Sempra Mexico's Termoeléctrica de Mexicali (TdM) assets that were held for sale until June 2018.
Sempra Renewables: The segment recorded net quarterly loss of $109 million, against the net earnings of $23 million in the prior-year quarter.
Sempra LNG & Midstream: The segment reported a net quarterly loss of $764 million, against the year-ago quarter’s income of $27 million. The bottom line deteriorated due to an impairment of certain non-utility natural gas storage assets in the southeast United States at Sempra LNG & Midstream.
Parent and Other: Quarterly loss rose to $122 million compared with the year-ago loss of $34 million.
Sempra Energy Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Sempra Energy’s (SRE - Free Report) second-quarter 2018 adjusted earnings per share (EPS) came in at $1.35, beating the Zacks Consensus Estimate of $1.17 by 15.4%. Earnings also improved 22.7% from the prior-year quarter figure.
Barring one-time items, the company incurred a GAAP loss of $2.11 per share in the quarter, against earnings of $1.03 in the year-ago quarter.
Total Revenues
In the quarter under review, total revenues were $2,564 million, up 1.2% year over year on higher contributions from its energy-related businesses (up 11.3%). However, total revenues lagged the consensus mark of $2,708 million by 5.3%.
Segment Update
San DiegoGas & Electric (SDG&E): Quarterly earnings came down to $146 million from the year-ago bottom line figure of $149 million.
Southern California Gas Company (SoCalGas): The segment registered earnings of $33 million in the second quarter of 2018, down from the year-ago earnings of $58 million.
Sempra South American Utilities: The segment recorded earnings of $44 million in the second quarter, marginally down from $45 million in the prior-year quarter.
Sempra Mexico: The segment recorded net earnings of $97 million, against the net loss of $9 million recorded in the prior-year quarter. The bottom line deteriorated due to the impairment of Sempra Mexico's Termoeléctrica de Mexicali (TdM) assets that were held for sale until June 2018.
Sempra Renewables: The segment recorded net quarterly loss of $109 million, against the net earnings of $23 million in the prior-year quarter.
Sempra LNG & Midstream: The segment reported a net quarterly loss of $764 million, against the year-ago quarter’s income of $27 million. The bottom line deteriorated due to an impairment of certain non-utility natural gas storage assets in the southeast United States at Sempra LNG & Midstream.
Parent and Other: Quarterly loss rose to $122 million compared with the year-ago loss of $34 million.
Sempra Energy Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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