Sempra Profits Drop by 17% Amid Lower Performance by Infrastructure Unit ...Middle East

Times of San Diego - News

Sempra Energy headquarters in downtown San Diego. REUTERS/Mike Blake San Diego-based utility holding company Sempra posted a 17% drop in its first-quarter profits on Tuesday due largely to lower results from its infrastructure unit. The company earned $801 million, or $1.26 per share, compared to $969 million, or $1.53 per share, a year ago. Revenue fell from $6.56 billion to $3.64 billion because of the falling cost of natural gas, which is passed on to utility customers without a markup. Sempra Infrastructure, the company’s unit that develops, invests and operates clean energy infrastructure, reported a 58% fall in its quarterly earnings to $131 million from $315 million a year a

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Last updated : 07 May 2024 clock 08:45 PM

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Sempra Profits Drop by 17% Amid Lower Performance by Infrastructure Unit ...Middle East

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