Sempra Energy beats by $0.12, beats on revs; reaffirms FY18 EPS guidance
- Reports Q4 (Dec) earnings of $1.54 per share, excluding non-recurring items, $0.12 better than the Capital IQ Consensus of $1.42; revenues rose 3.3% year/year to $2.96 bln vs the $2.82 bln Capital IQ Consensus.
- Co reaffirms guidance for FY18, sees EPS of $5.30-5.80 vs. $5.51 Capital IQ Consensus Estimate.
- "In 2017, we produced outstanding financial and operating results, while making significant investments to fuel our future growth," said Debra L. Reed, chairman, president and CEO of Sempra Energy. "Our proposal to acquire a majority stake in Oncor continues to gain positive momentum and we expect state regulators to complete their review within the next month. Our California utilities are executing on their robust capital programs to reinforce their systems and filed their General Rate Case applications for 2019. Additionally, both SDG&E and Sempra LNG & Midstream recently resolved key business issues, resulting in better visibility going forward.