Sempra lowers high end of 2013 guidance range

Sempra Energy lowers high end of 2013 earnings guidance range

Associated Press

SAN DIEGO (AP) -- Energy services holding company Sempra Energy lowered the high end of its 2013 guidance range on Thursday, sending its shares lower in midday trading.

The company said it now expects 2013 earnings of $4.30 to $4.60 per share. Its earlier outlook was for $4.30 to $4.80 per share.

Analysts, on average, were expecting earnings of $4.47 per share, according to a poll by FactSet.

For 2014, Sempra is forecasting earnings of $4.25 to $4.55 per share. Analysts were expecting $4.64 per share.

For 2017, the company expects earnings of $5.10 to $5.60 per share. FactSet does not have estimates available that far ahead.

Sempra, which is the parent of San Diego Gas & Electric and Southern California Gas Co., also told investors at a conference that it expects to spend an average of $2.9 billion per year through 2017 on capital expenditures and investments.

Shares of the San Diego-based company fell $2.95, or 3.6 percent, to $78.70 while the broader markets also declined. The stock has traded in a 52-week range of $63.02 to $84.85.

View Comments (0)