Sempra Energy Q1 Profit Decreases, but beats estimates

(RTTNews) - Sempra Energy (SRE) released a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $801 million, or $1.26 per share. This compares with $969 million, or $1.53 per share, in last year's first quarter.

Excluding items, Sempra Energy reported adjusted earnings of $854 million or $1.34 per share for the period.

Analysts on average had expected the company to earn $1.33 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 44.5% to $3.64 billion from $6.56 billion last year.

Sempra Energy earnings at a glance (GAAP) :

-Earnings (Q1): $801 Mln. vs. $969 Mln. last year. -EPS (Q1): $1.26 vs. $1.53 last year. -Revenue (Q1): $3.64 Bln vs. $6.56 Bln last year.

-Guidance: Full year EPS guidance: $4.60 to $4.90