Sempra: 2Q Earnings Snapshot
SAN DIEGO (AP) _ Sempra Energy (SRE) on Friday reported second-quarter net income of $390 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the San Diego-based company said it had net income of $1.26. Earnings, adjusted to account for discontinued operations and non-recurring gains, came to $1.10 per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.
The natural gas and electricity provider posted revenue of $2.23 billion in the period.
Sempra expects full-year earnings in the range of $5.70 to $6.30 per share.
Sempra shares have risen 25% since the beginning of the year, while the Standard & Poor’s 500 index has risen 18%. The stock has climbed 18% in the last 12 months.