Sempra Energy ( NYSE: SRE ) -2.6% in Tuesday's trading after reporting a 10% decline in Q4 revenues , as strength in its natural gas and electric businesses was offset by weakness in its energy-related businesses.
Sempra's ( SRE ) Q4 GAAP earnings fell to $438M, or $1.39/share, from $604M, or $1.90/hare, in the year-ago quarter, as revenues fell to $3.46B from $3.84B a year earlier.
The company said it is on track to make a final investment decision in Q1 to build the Port Arthur liquefied natural gas export plant in Texas, as the first phase of the project is now fully subscribed at 10.5M metric tons/year of long-term contracts.
Sempra ( SRE ) also said the second phase of the Cameron LNG development project in Louisiana remains on track for completion of the competitive front-end engineering design process this summer.
In addition to the 13.5M metric tons/year first phase of Port Arthur and a second 6.8M tons/year phase at Cameron, Sempra ( SRE ) also developing a second 13.5M tons/year phase at Port Arthur, a 3.3M tons/year LNG export plant at its Costa Azul LNG import plant in Mexico, a second 12M tons/year phase at Costa Azul, and a 3.5M tons/year export plant at Vista Pacifico, also in Mexico.
Sempra ( SRE ) reiterated its FY earnings guidance of $8.60-$9.20/share and its long-term projected EPS compound annual growth rate of 6%-8% based on the midpoint of its 2023 EPS guidance range.
Sempra ( SRE ) shares have lost nearly 2% so far this year while gaining 4.5% during the past 12 months .
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Sempra says on track for Q1 FID of Port Arthur LNG export plant