Sempra Energy on Wednesday reported a 15% increase in earnings for the first quarter of 2021 and predicted “another strong year of financial performance.”
The San Diego-based utility-holding company earned $874 million, or $2.87 per share, compared to $760 million, or $2.53 per share, in the same quarter last year. Revenue rose to 3.26 billion from 3.03 billion a year ago.
“Over the last several years, we have narrowed our market focus, expanded investment in our utilities and worked hard to improve safety and operating results,” said Jeffrey W. Martin, chairman and CEO.
“Taken together, these activities also support our financial commitments and, in part, are reflected in the strength of our first quarter results,” he said. “The company is well positioned to deliver another strong year of financial performance.”
Sempra said it expects to earn between $7.42 and $8.02 per share in 2021.
The Sempra Energy family of companies, which include San Diego Gas & Electric and Southern California Gas Co., collectively employ more than 19,000 employees who deliver energy to over 36 million consumers.