Sempra beats profit estimates on higher earnings from California units
Feb 28 (Reuters) - Sempra Energy reported fourth-quarter profit that beat analysts' estimates on Tuesday, helped by higher earnings from its California utilities.
The company also reiterated that it is targeting a final investment decision for its liquefied natural gas (LNG) export facility in Texas before the end of the first quarter of 2023.
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U.S. LNG exporters have witnessed higher demand after Western sanctions on major producer Russia squeezed an already-tight global supply.
On an adjusted basis, California-based Sempra earned $2.35 cents per share, topping the average analysts' estimate of $2.04, according to Refinitiv data.
The company's earnings from its San Diego gas and electric unit rose to $234 million from $216 million a year earlier. Its gas utility earned $260 million compared with $198 million a year earlier.
(Reporting by Sourasis Bose in Bengaluru; Editing by Shilpi Majumdar)