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Sempra Energy Q2 earnings $295 million

Staff writer |
Sempra Energy reported second-quarter 2015 earnings of $295 million, or $1.17 per diluted share, compared with $269 million, or $1.08 per diluted share, in the second quarter 2014.

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Sempra Energy's second-quarter 2015 earnings included a $36 million after-tax gain on the sale of the second block of Sempra U.S. Gas & Power's Mesquite Power facility and $1 million after tax in liquefied natural gas (LNG) liquefaction development expenses.

Excluding the gain on sale of Mesquite Power and the LNG liquefaction development expenses, Sempra Energy's adjusted earnings in the second quarter 2015 were $260 million, or $1.03 per diluted share.

Sempra Energy's earnings for the first six months of 2015 were $732 million, or $2.91 per diluted share, up from $516 million, or $2.07 per diluted share, during the same period last year.

In the first quarter 2015, San Diego Gas & Electric (SDG&E) had a benefit of $13 million after tax, due to the reduction in the loss related to the San Onofre Nuclear Generating Station (SONGS), and Sempra U.S. Gas & Power had $4 million in LNG liquefaction development expenses.

In the first quarter 2014, SDG&E recorded a $9 million charge related to the closure of SONGS. Excluding items in both years, Sempra Energy's adjusted earnings for the first six months of 2015 were $688 million, or $2.74 per diluted share, up from $525 million, or $2.11 per diluted share, in the same period last year.


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