The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Sempra Energy beat expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly and GAAP earnings per share shrank.
Gross margins expanded, operating margins dropped, net margins contracted.
Sempra Energy tallied revenue of $2.51 billion. The one analyst polled by S&P Capital IQ looked for a top line of $2.32 billion on the same basis. GAAP reported sales were 2.7% lower than the prior-year quarter's $2.58 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 $1.33. The seven earnings estimates compiled by S&P Capital IQ averaged $1.01 per share. GAAP EPS of $1.09 for Q3 were 11% lower than the prior-year quarter's $1.22 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 34.7%, 160 basis points better than the prior-year quarter. Operating margin was 19.9%, 20 basis points worse than the prior-year quarter. Net margin was 10.7%, 80 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $2.70 billion. On the bottom line, the average EPS estimate is $1.28.
Next year's average estimate for revenue is $9.79 billion. The average EPS estimate is $4.18.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Sempra Energy is hold, with an average price target of $68.50.
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