By Dave Sebastian
Sempra Energy said its profit for the first quarter rose as it booked gains in utilities and energy-related businesses.
The energy-infrastructure company on Wednesday posted a net income of $895 million, compared with $796 million in the comparable quarter last year. Earnings were $2.87 a share, compared with $2.53 a share in the year-ago period.
Adjusted earnings for the quarter were $2.95 a share. Analysts polled by FactSet were expecting $2.61 a share.
Revenue rose to $3.26 billion from $3.03 billion. Analysts were looking for $3.35 billion.
The company said it is updating its 2021 earnings guidance to $7.42 a share to $7.50 a share and backed its adjusted-earnings guidance of $7.50 a share to $8.10 a share.
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(END) Dow Jones Newswires