Sempra Energy SRE reported fourth-quarter 2024 adjusted earnings per share (EPS) of $1.50, which missed the Zacks Consensus Estimate of $1.63 by 8%. However, the figure improved 32.7% from $1.13 reported in the prior-year quarter. 

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Including one-time items, the company generated GAAP earnings of $1.04 per share compared with $1.16 in the fourth quarter of 2023. 

For 2024, the company reported adjusted EPS of $4.65, which missed the Zacks Consensus Estimate of $4.76. However, the full-year bottom-line figure improved from $4.61 reported a year ago.

Sempra Energy Price, Consensus and EPS Surprise

Sempra Energy price-consensus-eps-surprise-chart | Sempra Energy Quote

Total Revenues

Sempra’s total revenues of $3.76 billion increased 7.6% from $3.49 billion in the year-ago quarter. This was driven by higher revenue contributions from the Natural gas and Electric business units.

The top line, however, missed the Zacks Consensus Estimate of $4.88 billion by 23.1%.

For 2024, the company posted revenues of $13.19 billion, which declined from $16.72 billion recorded last year. The full-year top line missed the Zacks Consensus Estimate of $15.31 billion.

Segmental Update

Sempra California: Quarterly earnings amounted to $701 million compared with the year-ago quarter’s level of $500 million.

Sempra Texas Utility: Earnings in this segment declined from $146 million in the year-ago quarter to $135 million.

Sempra Infrastructure: The segment recorded earnings of $259 million compared with $131 million in the year-ago quarter.

Parent and Other: The segment reported a loss of $430 million, wider than the prior-year period’s loss of $40 million.

Financial Update

As of Dec. 31, 2024, Sempra’s cash and cash equivalents totaled $1,565 million compared with $236 million as of Dec. 31, 2023.

As of Dec. 31, 2024, long-term debt and finance leases amounted to $31.56 billion compared with $27.76 billion as of Dec. 31, 2023.

Cash flow from operating activities decreased from $6.22 billion in 2023 to $4.91 billion in 2024.

Guidance

Sempra revised its 2025 earnings projection. The company now expects its adjusted EPS to be in the range of $4.30-$4.70, lower than the earlier guidance of $4.90-$5.25. The Zacks Consensus Estimate is pegged at $5.13, lower than the company’s guided range.

SRE expects its 2026 earnings to be in the range of $4.80-$5.30 per share. 

It raised its projection for long-term EPS growth rate to 7-9% from 6-8%.

Zacks Rank

Sempra currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Utility Releases

NextEra Energy, Inc. NEE reported fourth-quarter 2024 adjusted earnings of 53 cents per share, which beat the Zacks Consensus Estimate of 51 cents by 3.9%. The company reported operating revenues of $5.38 billion, which lagged the consensus estimate of $6.49 billion by 17%.

WEC Energy Group WEC reported fourth-quarter 2024 earnings of $1.43 per share, which missed the Zacks Consensus Estimate of $1.44 by 0.7%. The company reported operating revenues of $2.28 billion, which missed the consensus estimate of $2.6 billion by 12.1%.

National Fuel Gas Company NFG reported first-quarter fiscal 2025 adjusted operating earnings of $1.66 per share, which beat the Zacks Consensus Estimate of $1.57 by 5.7%. The company reported sales of $549.5 million, which missed the consensus estimate of $594 million by 7.5%.

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NextEra Energy, Inc. (NEE) : Free Stock Analysis Report

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This article originally published on Zacks Investment Research (zacks.com).

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