Sempra Lowers 2024 GAAP EPS Guidance Range - Update

(RTTNews) - Sempra (SRE) said the company is updating full-year 2024 GAAP earnings per common share guidance range to $4.52 to $4.82 reflecting actual results through the first quarter. Previously, the company projected earnings per common share in range of $4.60 to $4.90. The company affirmed full-year 2024 adjusted EPS guidance range of $4.60 to $4.90. Analysts polled by Thomson Reuters expect the company to report profit per share of $4.81. Analysts' estimates typically exclude special items.

Sempra affirmed full-year 2025 EPS guidance range of $4.90 to $5.25. The company also affirmed its projected long-term EPS growth rate of 6% to 8%.

Sempra reported first-quarter earnings of $801 million or $1.26 per share, compared to first-quarter 2023 GAAP earnings of $969 million or $1.53 per share. On an adjusted basis, first-quarter 2024 earnings were $854 million or $1.34 per share, compared to $922 million, or $1.46 per share, a year ago. Analysts on average had expected the company to earn $1.33 per share, according to figures compiled by Thomson Reuters. The company's revenue for the quarter fell 44.5% to $3.64 billion from $6.56 billion last year.

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