Sempra Energy, parent of San Diego Gas & Electric and other subsidiaries reduced its earnings per share guidance for 2013 making it $4.30 to $4.60, down from the earlier guidance range of $4.30 to $4.80.
The new range includes 30 cents per share of earnings that will result from the recent rate hike granted to SDG&E and Southern California Gas by the state’s Public Utilities Commission that goes into effect Sept. 1, the company said.
Sempra set earnings per share guidance for 2014 at $4.25 to $4.55. Additionally, the company reaffirmed its compound annual earnings growth target of 6 percent to 8 percent that should continue through 2017.
From 2013 through 2017 Sempra Energy said it expects its average annual capital expenditure to be about $2.9 billion.
— SDBJ Staff Report