San Diego-based energy company and LNG operator Sempra Energy reported second-quarter profit of $259 million. This compares to $16 million in the same quarter last year.
On an adjusted basis, the company’s earnings increased to $276 million, or $1.10 per diluted share, from $200 million, or $0.79 per diluted share, in last year’s second quarter.
Sempra LNG & Midstream, the company’s unit that operates the Cameron LNG terminal and is developing new liquefaction projects, recorded earnings of $27 million, compared with a net loss of $149 million in the second quarter 2016.
Sempra Energy raised its 2017 earnings-per-share guidance range to $4.95 to $5.25 and its adjusted guidance range to $5 to $5.30.
Speaking of the results, Sempra’s chairman, president and CEO, Debra Reed , said that increased operating earnings in its “utility and infrastructure businesses through the first half of the year allow us to raise our 2017 earnings guidance.”