Sempra Energy reported first-quarter 2017 earnings Tuesday of $441 million, or $1.75 per diluted share, up from $353 million, or $1.40 per diluted share, in the first quarter 2016.
“Our strong first-quarter results keep us on track to meet our 2017 earnings guidance,” said Debra L. Reed, chairman, president and CEO of Sempra Energy. “As we outlined at our analyst conference last month, we are executing on our strategic plan to grow our earnings at about twice the average rate of our utility peers from 2017 through 2021.”
All earnings, adjusted earnings, earnings per share and adjusted earnings per share for 2016 have been recast to reflect the adoption of a share-based compensation accounting standard in 2016. Additionally, first-quarter 2016 results for Southern California Gas Co. (SoCalGas) and San Diego Gas & Electric (SDG&E) did not include revenue from their 2016-18 General Rate Case, as the California Public Utilities Commission (CPUC) did not issue its final decision until last year’s second quarter.
Sempra Energy’s first-quarter adjusted earnings were $438 million, or $1.74 per diluted share, in 2017, up from $404 million, or $1.60 per diluted share, in 2016. Last year’s adjusted first-quarter results excluded a $27 million after-tax loss related to the previously announced agreement to sell Sempra LNG & Midstream’s stake in the Rockies Express Pipeline (REX) and $24 million of deferred tax expense related to the planned Termoeléctrica de Mexicali (TdM) power plant sale. Sempra Energy’s adjusted first-quarter 2017 results excluded a $3 million deferred tax benefit related to the planned sale of TdM.
Sen. Scott Wilk, R-Santa Clarita, announced the introduction of Senate Joint Resolution 5, urging the federal government to immediately pass a correction to the Social Security formula to protect benefits for millions of Americans who turned 60 during the pandemic.
The Santa Clarita City Council will consider allocating a little over $3.5 million in federal funding intended to support low- and moderate-income residents with decent and affordable housing and economic opportunities.
After publicly expressing their support for hosting live graduations earlier this year, William S. Hart Union High School District officials outlined their proposed plans for the Class of 2021 ceremonies during their Wednesday night governing board meeting.
After plans fell through for a $100 million mall expansion that would have brought a second Costco to the Santa Clarita Valley, representatives from the big box retailer reached out to city officials to see if they could still make a second location a reality.
Nurses Week is underway and the Registered Nurse Response Network (RNRN) is calling on registered nurse volunteers to assist with Covid-19 vaccinations at the Kedren Community Health Center in partnership with International Medical Corps.
The Los Angeles County Sheriff’s Department announced it will begin a phased reopening of jail visitations at the Century Regional Detention Facility starting on Mother’s Day weekend, with all other locations predicted to reopen in June.
The L.A. County Financial Navigators program, operated by the Los Angeles County Department of Consumer and Business Affairs’ Center for Financial Empowerment in partnership with Cities for Financial Empowerment Fund, announced it is currently providing L.A. residents with free assistance to help them deal with the financial challenges brought on by the COVID-19 pandemic.
The city of Santa Clarita Human Relations Roundtable voiced strong support for the removal of the race-based “Indians” mascot at Hart High School in an open letter to the William S. Hart District School Board in alignment with the recently released statement of the Fernandeno Tataviam Band of Mission Indians.
The California Interscholastic Federation has renewed a multi-year agreement with GoFan as the official digital ticketing partner to provide touchless, digital ticketing solutions to high schools and state-wide post season play across California.
The County of Los Angeles announced Thursday that it has distributed 23 million units of free PPE through its joint effort with PPE Unite to protect 433,000 employees at small businesses across the County.
The Department of Public Social Services (DPSS) has launched its annual CalFresh Awareness Month campaign to publicize the CalFresh Nutrition Program and acknowledge community partners throughout the month of May for helping to raise public awareness year-round.