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
Everyone knows that the Federal Reserve will raise interest rates next Wednesday at the conclusion of its two-day policy meeting. After all, Fed speakers have been jawboning a rate hike over the past few weeks. With the markets reacting with eerie calm to Donald Trump's win, policy makers have no... GOP strategist Karl Rove has criticized U.S. President-elect Donald Trump's comments on aircraft maker Boeing Co.'s contract for a new Air Force One plane, saying they were inaccurate and de-stabled the stock of a major company. Air Force One is the official air plane for the U.S. President. Elon Musk's space transport company SpaceX has lost a satellite launch order from one of its customers due to the delay in its rocket launch schedule after one of its rockets exploded in September.
comments powered by Disqus
Follow RTT