2023-08-03 10:33:48 ET
Sempra ( NYSE: SRE ) -2.2% in Thursday's trading after beating estimates for Q2 adjusted earnings while revenues fell across both its natural gas and electricity utilities.
Q2 net income rose to $603M, or $1.91/share, from $559M, or $1.77/share, in the year-earlier quarter, helped by lower costs and higher sales at its California units.
Sempra ( SRE ) also affirmed guidance for full-year adjusted earnings of $8.60-$9.20/share and for FY 2024 adjusted EPS guidance of $9.10-$9.40, and projected long-term EPS growth rate of 6%-8%.
The company declared a two-for-one stock split, saying it aims to boost its stock's trading volume and appeal to a broader set of investors; the company expects its shares to begin trading on a split-adjusted basis August 22.
More on Sempra:
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Sempra slips after Q2 revenue miss; declares two-for-one stock split