On Tuesday, Sempra (NYSE:SRE) reported fourth-quarter adjusted EPS of $1.50, up from $1.13 in the prior-year quarter, but missing the consensus of $1.60. Revenue of $3.758 billion missed the consensus of $4.36 billion.
Natural gas revenues rose to $2.34 billion from $1.935 billion, Electric revenue rose to $1.027 billion from $1.003 billion, and Energy-related business revenue declined to $388 million from $553 million a year ago.
Dividend: The board of directors declared a quarterly dividend of $0.645 per share on common stock, payable on April 15, 2025, to shareholders of record as of March 20, 2025. This raises the annualized dividend to $2.58 per share, up from $2.48 in 2024.
As of December 31, cash and cash equivalent stood at $1.57 billion.
Outlook: Sempra projects a record five-year capital plan of around $56 billion for 2025-2029, marking a 16% increase from its previous plan, with more than 90% of the capital allocated to regulated utility investments in Texas and California.
Jeffrey W. Martin, chairman and CEO of Sempra, said, ”Over half of planned capital expenditures are earmarked for Texas, where significant new investments are needed to expand and modernize the energy grid. This is consistent with Sempra’s 2030 aspirations of producing over 50% of its earnings from the State of Texas.”
Outlook: The company revised 2025 EPS guidance to $4.30-$4.70 (from $4.90-$5.25) vs. consensus of $5.15, factoring in recent regulatory matters and a higher-cost environment.
The company issued EPS guidance for 2026 of $4.80-$5.30, representing a 12% year-over-year increase from the midpoint of the 2025 guidance. Additionally, Sempra is raising its projected long-term EPS growth rate to 7% to 9%.
Investors can gain exposure to the stock via Virtus Reaves Utilities ETF (NYSE:UTES) and Invesco Real Assets ESG ETF (BATS:IVRA).
Price Action: SRE shares are down 20% at $69.77 at the last check on Tuesday.
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