Sempra Energy Completes Business Exit From South America, Raises EPS Guidance

   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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