Sempra Energy Narrows FY24 EPS Outlook Range - Update

(RTTNews) - While reporting financial results for the fourth quarter on Tuesday, energy infrastructure company Sempra Energy (SRE) narrowed its earnings guidance for the full-year 2024, and initiated earnings outlook for the full-year 2025.

For fiscal 2024, Sempra Energy now projects earnings in a range of $4.60 to $4.90 per share, compared to the prior guidance range of $4.30 to $4.60 per share.

On average, 18 analysts polled by Thomson Reuters expect the company to report earnings of $4.83 per share for the year. Analysts' estimates typically exclude special items.

The company also initiated its earnings guidance for fiscal 2025 in a range of $4.90 to $5.25 per share.

Further, the company is affirming its projected long-term earnings per share growth rate of approximately 6 to 8 percent.

Sempra's board of directors declared a $0.62 per share quarterly dividend on the company's common stock, which is payable April 15, 2024, to common stock shareholders of record at the close of business on March 21, 2024.

Sempra's board of directors also declared a semi-annual dividend of $24.375 per share on the company's 4.875% Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, Series C, payable April 15, 2024, to preferred stock shareholders of record at the close of business on April 1, 2024.

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