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Sempra Energy’s Q2 earnings rise

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LNG Industry,

Sempra Energy has reported Q2 2017 earnings of US$259 million, or US$1.03 per diluted share, up from US$16 million, or US$0.06 per diluted share, in Q2 2016.

On an adjusted basis, Sempra Energy’s Q2 2017 earnings increased to US$276 million, or US$1.10 per diluted share, from US$200 million, or US$0.79 per diluted share, in last year’s Q2.

“Increased operating earnings in our utility and infrastructure businesses through the first half of the year allow us to raise our 2017 earnings guidance,” said 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 market in Mexico.”

Sempra Energy’s earnings for the first six months of 2017 were US$700 million, or US$2.77 per diluted share, compared with US$369 million, or US$1.47 per diluted share, in the first six months of 2016. Adjusted earnings for the first six months of 2017 were US$714 million, or US$2.83 per diluted share, compared with US$625 million, or US$2.48 per diluted share, in the first six months of 2016.

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