“Based on our strong operating and financial performance through the first nine months, we are on track for one of the best years in our history. During the third quarter, we saw continued growth in our utility and infrastructure businesses, while laying the groundwork for a significant new growth platform with our agreement to acquire a majority stake in Oncor.” said Debra L. Reed, chairman, president and CEO of Sempra Energy
Today, Sempra Energy updated its GAAP 2017 earnings-per-share guidance range to $4.13 to $4.43 from the prior range of $4.95 to $5.25, resulting from the impairment in the third quarter 2017 related to SDG&E’s cost recovery for the 2007 San Diego wildfires. The company said it expects its adjusted 2017 earnings per share to be at the upper end of its guidance range of $5 to $5.30.
Sempra LNG & Midstream
In the third quarter 2017, Sempra LNG & Midstream recorded a net loss of $4 million, compared with earnings of $77 million in the third quarter 2016, due to the $78 million after-tax gain from the sale of EnergySouth in last year’s third quarter.
For the first nine months of 2017, Sempra LNG & Midstream had earnings of $24 million, compared with a net loss of $104 million in the first nine months of 2016. Sempra LNG & Midstream recorded a $28 million after-tax recovery in the second quarter 2017 related to last year’s permanent releases of certain pipeline capacity, compared with a related $123 million after-tax loss in 2016.
Last Quarter Earnings: Sempra Energy $SRE Beats Earnings, Expect Cameron LNG Train 1 to be Delayed Until 2019
Sources: Criterion Research, Sempra Energy
From Traders Community Research