San Diego-based energy company Sempra reported a “solid quarter” on Thursday with profits rising 13% from a year ago.
Sempra earned $906 million, or $1.39 per share, in the first quarter, compared to $801 million, or $1.26 per share, in the same quarter last year. Revenue rose to $3.80 billion from $3.64 billion a year ago.
“We are pleased to report a solid quarter for Sempra, which is the direct result ofcontinued focus on delivering strong financial performance while making steadyprogress on our strategic initiatives,” said Jeffrey W. Martin, chairman and CEO.
“We remain committed to our disciplined growth strategy, which centers ondelivering safer and more reliable energy to the nearly 40 million consumers we serve,” he added.
The company updated its full-year earnings forecast to a range of $4.25 to $4.65 per share.
Sempra stock closed at $75.77 on Wall Street, down 9 cents from the previous day.
The company is the parent of San Diego Gas & Electric, and also a major utility operator in Texas. It is a growing provider of liquified natural gas for international markets with terminals on the Gulf of Mexico.
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