Sempra’s Net Income Triples on Utility, Trading Businesses
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Sempra Energy, owner of Southern California Gas Co. and San Diego Gas & Electric Co., said second-quarter earnings more than tripled, helped by strong results at its regulated utility operations and its commodity trading business.
Sempra’s net income rose to $373 million, or $1.43 a share, from $121 million, or 48 cents a share, a year earlier.
Excluding gains from asset sales and other items, the San Diego-based company earned 71 cents a share.
Analysts, on average, expected 63 cents, according to Reuters Estimates.
Revenue rose to $2.5 billion from $2.2 billion.
Net income for San Diego Gas & Electric rose to $65 million from $29 million.
Southern California Gas’ net income was unchanged at $58 million.
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