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Electric utilities

San Diego Gas & Electric Reports 2% Increase in 3rd Quarter Earnings

Strategic Insights

— 1 min read

San Diego Gas & Electric (SDG&E) announced unaudited third-quarter earnings per share of 51 cents, representing a 2% increase over the 1994 earnings of 50 cents for the same quarter. This positive trend is reflected in the company's consolidated operating revenues, which rose by 0.4% to $478.7 million compared to the same quarter last year. Notably, consolidated operating expenses decreased by 1.0% to $388.4 million, a significant improvement over the previous year's expenses of $392.4 million.

Key Takeaways:

  • SDG&E reported a 2% increase in 3rd quarter earnings per share, growing from 50 cents in 1994 to 51 cents in 1995.
  • Consolidated operating revenues increased by 0.4% to $478.7 million, a modest but positive growth compared to the same quarter last year.
  • Consolidated operating expenses decreased by 1.0% to $388.4 million, marking a notable improvement over the previous year's expenses of $392.4 million.
  • The company's earnings from continuing operations for the 12-month period ending September 30, 1995, were $1.98, representing a 13.1% increase over the prior 12 months' earnings per common share from continuing operations of $1.75.
  • The increase in earnings from continuing operations is primarily attributed to a $0.20 per share writedown of utility and real estate assets in June 1994.
  • Vince Reardon, Director of Investor Relations, is available for media inquiries, with a contact phone number of 619-696-4261 and an after-hours pager of 619-526-9555.

Statistics:

  • Earnings per common share up 2% to 51 cents in 3rd quarter 1995.
  • Consolidated operating revenues up 0.4% to $478.7 million in 3rd quarter 1995.
  • Consolidated operating expenses down 1.0% to $388.4 million in 3rd quarter 1995.
  • Earnings from continuing operations up 13.1% to $1.98 for the 12 months ending September 30, 1995.
  • Writedown of utility and real estate assets led to a $0.20 per share improvement in earnings from continuing operations.

Sources:

  • San Diego Gas & Electric (NYSE: SDO)
  • PRNewswire
  • Investor Relations contact: Vince Reardon, 619-696-4261, or after-hours pager, 619-526-9555.

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