logo
Share SHARE
FONT-SIZE Plus   Neg

Sempra Energy Posts Lower Q1 Profit; Backs 2012 EPS View - Quick Facts

Sempra Energy (SRE) reported a decline in its first-quarter 2012 earnings to $236 million, or $0.97 per share, from $254 million, or $1.05 per share in the first quarter 2011. On average, 7 analysts polled by Thomson Reuters expected earnings per share of $0.98 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenues for the latest quarter were $2.38 billion, versus $2.43 billion in the comparable period last year. With effect from January 1, the company changed its accounting treatment for investment tax credits related to solar-power projects from the flow-through method to the deferral method. Sempra Energy's 2011 results have been restated to reflect this change in accounting method.

Sempra Energy's chief executive stated, "Our solid first-quarter results put us on track to meet our 2012 earnings-per-share guidance range of $4 to $4.30." Eleven analysts project earnings per share of $4.17 for the full year.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Delta Air Lines Inc. (DAL) pilots, represented by the Air Line Pilots Association International, are picketing on Friday at several airports across the country. The pilots said the picketing was to raise the sense of urgency in ongoing contract negotiations. The negotiations between the pilots... Charter Communications, and its recently acquired subsidiary Time Warner Cable, have been regularly overcharging its consumers to a tune of $7.2 million per year, according to a report from the U.S. Senate's Permanent Subcommittee on Investigations. According to the report, Time Warner Cable over-billed... Popular photo sharing network Instagram is adding a new translation button on its pages, so that the global crowd can read and enjoy the captions and comments given for the photographs uploaded. The new update will be available from next month onward.
comments powered by Disqus
Follow RTT