Sempra Energy Posts Q2 Beat

Sempra Energy, a provider of multiline utilities, reported higher-than-expected profit and revenue in Q2 and raised its FY17 earnings guidance. Adjusted EPS increased to $1.10 a share in the June quarter, from $0.79 a share, in the year-ago period. That topped the $0.87 average estimate of analysts surveyed by Capital IQ.

Q2 revenue rose to $2.53 billion, from $2.16 billion, exceeding the analyst consensus of $2.46 billion. The company raised its FY17 EPS guidance to $5.00 to $5.30, from its previous guidance of $4.85 to $5.25. Analysts are expecting EPS of $5.11. It also affirmed its FY18 EPS in the range of $5.30 to $5.80. Analysts are expecting GAAP EPS of $5.63 and adjusted EPS of $5.62.

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