Sempra 3Q Profit Rises After Natural Gas Cost Declined
03 Novembro 2023 - 9:07AM
Dow Jones News
By Jeffrey T. Lewis
Sempra's profit rose in the third quarter despite a decline in
revenue after natural gas and other costs fell from a year
earlier.
The San Diego-based electric and gas company reported net income
of $721 million, compared with income of $485 million a year
earlier. Earnings per share reached $1.14 from 77 cents and
adjusted earnings per share rose to $1.08 from 98 cents.
The numbers for sales came in below market expectations, while
profit outperformed. The consensus compiled by FactSet was for
revenue of $3.68 billion and for net income of $637 million.
Total revenue fell to $3.33 billion from $3.62 billion. The
company's cost for natural gas fell to $260 million in the quarter
from $505 million a year earlier, while the cost of electric fuel
and purchased power declined to $183 million from $307 million.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
November 03, 2023 07:52 ET (11:52 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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