Sempra Energy Sees Increase in Both Net Income and Revenue
Sempra Energy (NYSE: SRE) reported increased profit for the third quarter as revenue rose. What accounts for the company's robust revenue this quarter? Let's take a look behind the numbers and see what action you should take.
Earnings and Revenue:
Investors cheered Sempra Energy's latest numbers as the company announced EPS and revenues that topped predictions. The company reported EPS of $1.22/share versus the $1.21/share estimate and revenues of $2.58 billion versus the $2.06 billion estimate. EPS rose 130.2% while revenue climbed 21.7% from the same period last year.
Last quarter marked the third in a row of rising net income. Revenue rose for a second quarter in a row as Sempra Energy's sales grew 20.6% to $2.42 billion in the second quarter as well.
Income:
For the year, Sempra Energy reported net income of $4.44/share. The company trumped analyst projections of $4.14 by 7.2%. According to the reported number, the company's income rose 122.6% from last year's levels.
Official Comment:
"Based on our excellent results in the third quarter and continued progress on our major projects, we expect to meet our financial and operational objectives for the year," said Debra L. Reed, chief executive officer of Sempra Energy.
Industry:
Sempra Energy's industry, utility-gas distribution, is currently reporting price/earnings growth of 2.4%.
What to Do Next:
Now you're all set to decide what to do with those Sempra Energy shares until the next earnings announcement. Whether you buy, sell, or hold, check back with us before the company's next earnings release for a full preview.
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