San Diego-based utility holding company Sempra reported a decline in third-quarter earnings Wednesday, but predicted strong performance for the year as a whole.
The parent of San Diego Gas & Electric reported profits of $77 million, or 12 cents per share, down from $638 million, or $1.01 per share, in the same quarter a year ago. Revenue increased from to $3.15 billion from $2.78 billion a year ago.
However, on an adjusted basis, which takes into account the upcoming sale of a 45% stake in Sempra’s liquefied natural gas export terminals, the company earned $728 million compared to $566 million a year ago.
Those adjusted results beat Wall Street estimates, and the stock closed essentially unchanged at $92.39 per share.
“We are pleased with another solid quarter of financial performance,” said Jeffrey W. Martin, chairman and CEO. “We continue to make significant progress on our near-term value creation initiatives and we are pleased with our year-to-date financial results.”
The company increased its forecast of earnings-per-share for the full year to a range of $3.05 to $3.45.
Sempra serves nearly 40 million customers in California, Texas and Mexico.
Hence then, the article about sempra profits fall in 3rd quarter but beat analysts estimates and stock unchanged was published today ( ) and is available on Times of San Diego ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Sempra profits fall in 3rd quarter, but beat analysts’ estimates and stock unchanged )
Also on site :
- UK to list 65-year-olds as reservists amid Russia threat claims – Telegraph
- Gaza plan phase two: US to discuss Hamas disarmament, Israeli withdrawal
- Amazon Has 'Super Warm' and ‘Soft' Mini Sheepskin Boots on Sale for $50, and They're 'Worth Every Penny'