Sempra Energy headquarters in downtown San Diego. Courtesy of the company

The stock market was in full coronavirus panic mode on Thursday, but Sempra Energy reported 2019 earnings of $2.1 billion, more than double the $924 million posted in 2018.

“This year has been one of the strongest in our company’s history,” said Jeffrey W. Martin, chairman and CEO of the San Diego-based utility holding company. “Our earnings results are a direct reflection of our sharper strategic focus and ongoing execution of our mission to be North America’s premier energy infrastructure company.”

The company’s annual earnings equaled $7.29 per share, compared to $3.42 per share in 2018. The company said it expected to earn between $12.78 and $14.26 per share in 2020, an estimate that includes the anticipated gain on the sale of its South American businesses.

For the fourth quarter, Sempra earned $447 million, or $1.55 per share, compared with earnings of $864 million, or $3.03 per share, in the fourth quarter 2018.

The company’s stock closed Thursday at 141.42 per share, down nearly 4% amid a general market panic.

Sempra is the utility holding company with the largest U.S. customer base. It has more than 20,000 employees and over 40 million customers worldwide.

Show comments

Chris Jennewein

Chris Jennewein is Editor & Publisher of Times of San Diego.