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
A federal judge has dismissed a lawsuit that accused Starbucks (SBUX) of cheating customers by "under-filling" its cold beverages. The lawsuit alleged that Starbucks is deceiving its customers by serving iced drinks with too much ice cubes and less coffee "than advertised." "If children have figured... Apparel retailer Guess? Inc. (GES) on Wednesday reported an increase in profit for the second quarter, despite lower-than-expected revenues reflecting a one-time gain. Earnings for the quarter easily trumped Wall Street estimates, sending the company's stock up over 14 percent in extended hours. Guess'... HP Inc. (HPQ) on Wednesday reported a drop in profit for the third quarter hurt largely by a 4 percent drop in revenues as the company continues to struggle with weak demand for printers. Shares of the computer and printer maker slipped 5 percent in extended session after it detailed a weak fourth quarter...
comments powered by Disqus
Follow RTT