Sempra Energy Completes Business Exit From South America, Raises EPS Guidance
01 July 2020 - 7:54AM
Dow Jones News
By Stephen Nakrosis
Sempra Energy said Tuesday it has completed its business exit
from South America, adding its "investments are now focused in
top-tier markets in North America."
Sempra also raised its 2020 guidance for earnings per share and
adjusted earnings per share.
Sempra said its exit from South America followed "the recently
announced sale of its Chilean businesses, which generated
approximately $2.23 billion in total cash proceeds, subject to
post-closing adjustments."
Trevor Mihalik, the company's executive vice president and chief
financial officer, said, "By successfully executing on a broad
capital recycling program, the past two years have proven to be
transformational for our company and have allowed us to efficiently
concentrate our capital program on the most attractive markets in
North America."
Also on Tuesday, Sempra said it was raising its full-year 2020
GAAP earnings-per-share guidance range to between $12.38 and
$13.32, from $11.88 to $13.02. The company also boosted its
adjusted EPS guidance range to between $7.20 and $7.80, from $6.70
to $7.50.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
June 30, 2020 17:39 ET (21:39 GMT)
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