- Strong Performance Drives Increase in 2017 Earnings Guidance
- Affirms 2018 Earnings-Per-Share Guidance Range of $5.30 to $5.80
- Positive Regulatory Developments Include Approval of Two-Year Cost-of-Capital Extension, Resumption of Injections at Aliso Canyon Natural Gas Storage Facility
Debra L. Reed, chairman, president and CEO of Sempra Energy. “Strong operating results were coupled with positive regulatory outcomes, including the final regulatory decision in the Cost-of-Capital proceeding, which provides greater visibility to earnings at our California utilities over the next two years. Earlier this week, Southern California Gas Co. was able to resume limited injections at the Aliso Canyon natural gas storage facility after receiving regulatory approval in mid-July. Additionally, our Mexican business continues to expand, taking an important step forward in developing infrastructure for the promising new liquids marketin Mexico.”
Sempra LNG & Midstream
In the second quarter 2017, Sempra LNG & Midstream recorded earnings of $27 million, compared with a net loss of $149 million in the second quarter 2016. Sempra LNG & Midstream recorded a $28 million after-tax recovery in 2017 related to last year’s permanent releases of pipeline capacity, compared with a related $123 million after-tax loss in 2016.
For the first six months of 2017, Sempra LNG & Midstream recorded earnings of $28 million, compared with a net loss of $181 million in the first six months of 2016.
More Earnings: http://www.prnewswire.com/news-releases/sempra-energys-second-quarter-2017-earnings-rise-300499690.html
Sources: Criterion Research, Sempra Energy
From Traders Community Research