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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Sempra | NYSE:SRE | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.92 | 1.28% | 72.87 | 72.90 | 71.965 | 72.33 | 2,620,469 | 00:52:13 |
From May 2019 to May 2024
By Tess Stynes
Sempra Energy said its third-quarter earnings soared thanks to gains related to a pipeline joint-venture deal in its Mexico subsidiary but the energy company's revenue missed expectations.
Shares, up 7.1% this year, fell 3.9% to $100.73 in early trading.
Sempra's Mexican unit, IEnova, recently completed a restructured deal to purchase state oil company Petróleos Mexicanos' 50% stake in their 50-50 pipeline joint venture.
Sempra, parent company of California utilities San Diego Gas & Electric and Southern California Gas Co., reported a profit of $622 million, or $2.46 a share, up from $248 million, or 99 cents a share, a year earlier. Excluding gains related to its Mexico subsidiary's pipeline-joint venture deal and other items, adjusted per-share earnings were $1.02. Revenue increased 2.2% to $2.54 billion.
Analysts polled by Thomson Reuters expected adjusted per-share profit of 96 cents and revenue of $2.68 billion.
Sempra Energy also affirmed its 2016 outlook.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
November 02, 2016 10:53 ET (14:53 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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