Sempra Energy’s (SRE - Free Report) fourth-quarter 2018 adjusted earnings per share (EPS) came in at $1.56, beating the Zacks Consensus Estimate of $1.47 by 6.1%. The bottom line also improved 1.3% from $1.54 registered in the prior-year quarter.
Barring one-time items, the company generated GAAP earnings of $3.03 per share, against a loss of $1.99 in fourth-quarter 2017. This year- over-year upside was driven by solid top-line performance.
For 2018, Sempra Energy’s operating EPS came in at $5.57, up 2.8% from the prior-year quarter’s $5.42. The figure also surpassed the Zacks Consensus Estimate of $5.46 by 2%.
Total Revenues
In the quarter under review, total revenues were $3,221 million, up 8.7% year over year on higher contributions from both its Utilities (up 7.5%) and energy-related businesses (up 17.5%). The top line also surpassed the consensus mark of $3,183 million by 1.2%.
For 2018, Sempra Energy’s revenues were $11,687 million, up 4.3% from the prior-year figure of $11,207 million. The figure surpassed the Zacks Consensus Estimate of $11,480 million by 1.8%.
Segment Update
San Diego Gas & Electric (SDG&E): Quarterly earnings amounted to $148 million compared with the year-ago quarter’s $131 million.
Southern California Gas Company (SoCalGas): The segment quarterly earnings amounted to $156 million in the fourth quarter of 2018 compared with earnings of $128 million in the prior-year quarter.
Sempra Texas Utility: This segment registered earnings of $88 million in the reported quarter.
Sempra South American Utilities: The segment recorded earnings of $59 million, up from $52 million in fourth-quarter 2017.
Sempra Mexico: The segment recorded net earnings of $76 million compared with $64 million in the year-ago quarter.
Sempra Renewables: The segment recorded net quarterly earnings of $382 million, compared with $203 million in the fourth quarter last year.
Sempra LNG & Midstream: The segment reported earnings of $147 million compared with the year-ago quarter’s $126 million.
Parent and Other: Quarterly loss declined to $192 million from the year-ago quarter’s loss of $1,205 million.
Sempra Energy Price, Consensus and EPS Surprise
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Sempra Energy’s (SRE - Free Report) fourth-quarter 2018 adjusted earnings per share (EPS) came in at $1.56, beating the Zacks Consensus Estimate of $1.47 by 6.1%. The bottom line also improved 1.3% from $1.54 registered in the prior-year quarter.
Barring one-time items, the company generated GAAP earnings of $3.03 per share, against a loss of $1.99 in fourth-quarter 2017. This year- over-year upside was driven by solid top-line performance.
For 2018, Sempra Energy’s operating EPS came in at $5.57, up 2.8% from the prior-year quarter’s $5.42. The figure also surpassed the Zacks Consensus Estimate of $5.46 by 2%.
Total Revenues
In the quarter under review, total revenues were $3,221 million, up 8.7% year over year on higher contributions from both its Utilities (up 7.5%) and energy-related businesses (up 17.5%). The top line also surpassed the consensus mark of $3,183 million by 1.2%.
For 2018, Sempra Energy’s revenues were $11,687 million, up 4.3% from the prior-year figure of $11,207 million. The figure surpassed the Zacks Consensus Estimate of $11,480 million by 1.8%.
Segment Update
San Diego Gas & Electric (SDG&E): Quarterly earnings amounted to $148 million compared with the year-ago quarter’s $131 million.
Southern California Gas Company (SoCalGas): The segment quarterly earnings amounted to $156 million in the fourth quarter of 2018 compared with earnings of $128 million in the prior-year quarter.
Sempra Texas Utility: This segment registered earnings of $88 million in the reported quarter.
Sempra South American Utilities: The segment recorded earnings of $59 million, up from $52 million in fourth-quarter 2017.
Sempra Mexico: The segment recorded net earnings of $76 million compared with $64 million in the year-ago quarter.
Sempra Renewables: The segment recorded net quarterly earnings of $382 million, compared with $203 million in the fourth quarter last year.
Sempra LNG & Midstream: The segment reported earnings of $147 million compared with the year-ago quarter’s $126 million.
Parent and Other: Quarterly loss declined to $192 million from the year-ago quarter’s loss of $1,205 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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