Sempra Energy Reported Mixed Q2 Results, Top Line Up 21%

- Sempra Energy Reported Mixed Q2 Results, Top Line Up 21%



Aug 9, 2011

Sempra Energy (NYSE:SRE) reported adjusted Q2 EPS of $0.97, missing consensus estimates of $0.98 per share. Revenues for the quarter rose 21% year-over-year to $2.42 billion, topping consensus estimates of $2.18 billion.

The company sees 2011 EPS of $4.00 to $4.30 per share, vs. consensus estimates of $4.20 per share.

Debra L. Reed, chief executive officer of Sempra Energy said, "Through the first half of the year, we are performing well across the board and are on track to meet our 2011 earnings guidance. Our utility and pipeline acquisitions are providing strong contributions to our earnings. We also are making excellent progress on our major California utility projects and our build-out of contracted renewable energy infrastructure."

Sempra Energy has a potential upside of 24.6% based on a current price of $46.03 and an average consensus analyst price target of $57.36.

Oil & Gas Post

Promote Your Page Too
LINK

Sempra Generation to supply 21 MW of wind energy to Maui Electric

Sempra Generation to supply 21 MW of wind energy to Maui Electric



Sempra Generation has entered into a 20-year contract to sell 21 megawatts of wind energy to Maui Electric Company from the Auwahi Wind project on the Ulupalakua Ranch in the southeastern region of Maui. Construction on Auwahi Wind is expected to begin in early 2012, creating approximately 150 local construction jobs at peak and about five positions to operate the facility.

The project is currently undergoing an extensive environmental review by Maui County, and state and federal agencies.

The contract between Maui Electric Company and Sempra Generation is subject to approval by the Hawaii Public Utilities Commission.