Sempra Beats Profit Estimates on Higher Earnings from California Units
(Reuters) — Sempra Energy reported fourth-quarter profit that beat analysts' estimates on Tuesday, helped by higher earnings from its California utilities.
The company also reiterated that it is targeting a final investment decision for its LNG export facility in Texas before the end of the first quarter of 2023.
U.S. LNG exporters have witnessed higher demand after Western sanctions on major producer Russia squeezed an already-tight global supply.
On an adjusted basis, California-based Sempra earned $2.35 cents per share, topping the average analysts' estimate of $2.04, according to Refinitiv data.
The company's earnings from its San Diego gas and electric unit rose to $234 million from $216 million a year earlier. Its gas utility earned $260 million compared with $198 million a year earlier.
Related News
Related News
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- U.S. Moves to Block Enterprise Products’ Exports to China Over Security Risk
- Court Ruling Allows MVP’s $500 Million Southgate Pipeline Extension to Proceed
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- LNG Canada Start-Up Fails to Lift Gas Prices Amid Supply Glut
- TC Energy’s North Baja Pipeline Expansion Brings Mexico Closer to LNG Exports
Comments