Sempra Energy Posts Lower 3Q Profit, Backs 2021 Guidance
November 05 2020 - 7:56AM
Dow Jones News
By Anthony O. Goriainoff
Sempra Energy on Thursday reported a 57% fall in third-quarter
profit, missing market expectations, and backed its EPS guidance
for 2021.
The San Diego, Calif.-based gas and electricity company earned a
quarterly profit of $351 million, or $1.21 a share, compared with
$813 million, or $2.84 a share, for the same period last year.
Analysts polled by FactSet were expecting a profit of $446.5
million.
Sales for the period fell to $2.64 billion from $2.76 billion
the year before, below a consensus forecast of $2.65 billion taken
from FactSet and based on six analysts' estimates.
"As a result of the company's strong execution and financial
results, Sempra Energy is reaffirming and guiding to the high end
of both its full-year 2020 GAAP earnings-per-common-share guidance
range of $12.50 to $13.10 and adjusted EPS guidance range of $7.20
to $7.80," the company said.
Sempra Energy said its full-year 2021 earnings per share
guidance was in the $7.50 to $8.10 range.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
November 05, 2020 07:41 ET (12:41 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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