San Diego-based Sempra Energy on Tuesday reported first-quarter earnings of $441 million — a 25 percent increase from the same quarter last year.
The utility company’s earnings were equal to $1.75 per share in the quarter ended March 31 and compared to $353 million, or $1.40 per share, a year ago. Revenue rose to $3.03 billion from $2.6 billion.
“Our strong first-quarter results keep us on track to meet our 2017 earnings guidance,” said Debra L. Reed, chairman, president and CEO. “As we outlined at our analyst conference last month, we are executing on our strategic plan to grow our earnings at about twice the average rate of our utility peers from 2017 through 2021.”
Sempra’s San Diego Gas & Electric unit earned $155 million in the first quarter of the year, compared with $136 million last year. Earnings for SoCalGas were $203 million, compared with $199 million a year ago.
The company reaffirmed its 2017 earnings-per-share guidance range of $4.85 to $5.25.