The 10-second takeaway
For the quarter ended March 31 (Q1), Sempra Energy beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly and GAAP earnings per share shrank.
Gross margins improved, operating margins shrank, and net margins dropped.
Sempra Energy logged revenue of $2.38 billion. The one analyst polled by S&P Capital IQ predicted sales of $2.33 billion on the same basis. GAAP reported sales were 2.1% lower than the prior-year quarter's $2.43 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.97. The eight earnings estimates compiled by S&P Capital IQ predicted $0.99 per share. GAAP EPS of $0.97 for Q1 were 9.3% lower than the prior-year quarter's $1.07 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 30.7%, 50 basis points better than the prior-year quarter. Operating margin was 15.9%, 90 basis points worse than the prior-year quarter. Net margin was 9.9%, 70 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $2.36 billion. On the bottom line, the average EPS estimate is $0.86.
Next year's average estimate for revenue is $9.84 billion. The average EPS estimate is $4.17.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Sempra Energy is outperform, with an average price target of $60.45.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.