Sempra 1Q EPS Declines as Revenue Plummets
By Denny Jacob
Sempra posted a decline in earnings per-share as revenue plummeted in its latest quarter.
The San Diego-based electric and gas company logged earnings per-share of $1.26 for the first quarter ended March 31, down from earnings per-share of $1.53 a year earlier. Adjusted earnings were $1.34 a share, matching analysts' estimates.
Revenue plummeted to $3.64 billion from $6.56 billion. Analysts polled by FactSet expected $5.58 billion.
"We are seeing strong economic growth in our core markets with increased interest in renewables, electric vehicles, digital infrastructure and the continued electrification of the economy," said Chief Executive Jeffrey Martin.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
May 07, 2024 08:30 ET (12:30 GMT)
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