Sempra Backs FY23 Earnings View, Long Term Growth Forecast - Update

(RTTNews) - Sempra Energy (SRE), while reporting weak earnings and revenues in its fourth quarter, confirmed fiscal 2023 earnings view as well as its long-term projected earnings per share growth.

For fiscal 2023, the company continues to expect earnings per share in the range of $8.60 to $9.20. On average, 17 analysts polled by Thomson Reuters expect earnings of $9 per share for the year. Analysts' estimates typically exclude special items.

The company also reiterated its long-term projected earnings per share compound annual growth rate of around 6 percent to 8 percent based on the midpoint of 2023 guidance range.

Further, Sempra said its board of directors declared a $1.19 per share quarterly dividend on the company's common stock, which is payable April 15, to common stock shareholders of record as of March 22.

The declared quarterly dividend represents an increase of the company's common stock dividend to $4.76 per share, on an annualized basis, from $4.58 per share in 2022.