Sempra Energy beats by $0.07, misses on revs; guides FY23 EPS above consensus; reaffirms FY24 EPS guidance (72.08)
- Reports Q3 (Sep) earnings of $1.08 per share, $0.07 better than the FactSet Consensus of $1.01; revenues fell 7.8% year/year to $3.33 bln vs the $3.68 bln FactSet Consensus.
- Co issues upside guidance for FY23, sees EPS of at or above high end of $4.30-4.60 vs. $4.50 FactSet Consensus.
- Co reaffirms guidance for FY24, sees EPS of $4.55-4.90 vs. $4.78 FactSet Consensus.
- At Sempra Texas, Oncor Electric Delivery Company LLC (Oncor) continues to build out one of the largest pure-play transmission and distribution platforms in America to meet the state's growth in residential, commercial and industrial sectors. Premise growth in Oncor's service territory is estimated to be 2%, approximately double the national average. The Electric Reliability Council of Texas set 10 peak demand records this summer and the Oncor team safely maintained grid reliability while investing in the expansion and modernization of its growing energy networks.
- Expecting 10% to 20% increase above current five-year $40 billion capital plan.