Sempra

SRE: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$12.00	Tplhyf	Jrxhvmck

Sempra Energy Earnings: Capital Investment Increase Supports Long-Term Growth

Andrew Bischof

Feb 29, 2024

We are maintaining our $79 per share fair value estimate after Sempra Energy announced full-year operating earnings of $4.61 per share, above management's earnings guidance range of $4.30 to $4.60 per share. Management narrowed 2024 earnings per share guidance to $4.60 to $4.90, a slight increase from the prior $4.55 to $4.90 range. Our estimate remains toward the high end of the range. The company's 6%-8% long-term annual earnings growth guidance range is in line with our 7% estimate.

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