Sempra Energy Updates Financial Outlook at 2012 Analyst Conference

SAN DIEGO, March 29, 2012 /PRNewswire/ -- Sempra Energy (NYSE: SRE) updated its financial outlook in advance of its financial analyst conference today in San Diego.

The company reaffirmed earnings-per-share guidance for 2012 of $4.00 to $4.30 and also provided guidance for earnings per share of $4.10 to $4.40 for 2013.  In addition, the company set an earnings-per-share target of $5.50 to $6.00 for 2016. 

During a live webcast at 12:30 p.m. EDT today, Sempra Energy's management team will provide an update on Sempra Energy's strategic plan.  

At the conference, Sempra Energy officials also will detail the company's capital-expenditure plan and forecasted earnings by business unit. From 2012 through 2016, the company expects annual capital expenditures and investments to average approximately $2.7 billion.

Internet users may listen to the live webcast at www.sempra.com by clicking on the "Investor" section and also find conference presentation slides at the same location.  A replay of the conference will be available on the site 24 hours after the conference.

Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2011 revenues of $10 billion.  The Sempra Energy companies' 17,500 employees serve more than 31 million consumers worldwide.

This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These statements can be identified by words like "believes," "expects," "anticipates," "intends," "plans," "estimates," "may," "will," "would," "could," "should," "potential," "target," "outlook", "depends," "pursue" or similar expressions, or discussions of our guidance, strategies, plans, goals, initiatives, objectives or intentions.  Forward-looking statements are not guarantees of performance.  They involve risks, uncertainties and assumptions.  Future results may differ materially from those expressed in the forward-looking statements.  Forward-looking statements are necessarily based upon various assumptions involving judgments with respect to the future and other risks, including, among others: local, regional, national and international economic, competitive, political, legislative and regulatory conditions and developments; actions by the California Public Utilities Commission, California State Legislature, Federal Energy Regulatory Commission, Nuclear Regulatory Commission, California Energy Commission, California Air Resources Board, and other regulatory, governmental and environmental bodies in the United States and other countries where the company does business; capital market conditions, including the availability of credit and the liquidity of our investments; inflation, interest and exchange rates; the impact of benchmark interest rates, generally the U.S. Treasury bond and Moody's A-rated utility bond yields, on our Sempra Utilities' cost of capital; energy markets, including the timing and extent of changes and volatility in commodity prices; the availability of electric power, natural gas and liquefied natural gas, including disruptions caused by failures in the North American transmission grid, pipeline explosions and equipment failures; weather conditions, natural disasters, catastrophic accidents, and conservation efforts; risks inherent in nuclear power generation and radioactive materials storage, including catastrophic release of such materials; wars, terrorist attacks and cybersecurity threats; business, regulatory, environmental and legal decisions and requirements; expropriation of assets by foreign governments and title and other property disputes; the status of deregulation of retail natural gas and electricity delivery; the timing and success of business development efforts and construction, maintenance and capital projects; the inability or determination not to enter into long-term supply and sales agreements or long-term firm capacity agreements; the resolution of litigation; and other uncertainties, all of which are difficult to predict and many of which are beyond the control of the company.  These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the Securities and Exchange Commission.  These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on the company's website at www.sempra.com.

This press release contains forecasts and projections of future results, including the company's 2012-16 outlook.  These forecasts and projections and other forward-looking statements speak only as of March 29, 2012, and the company undertakes no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Sempra Energy

Sabra Lattos, Sempra Energy, 1-877-340-8875, www.sempra.com, or Financial Contacts, Scott Tomayko/Victor Vilaplana, Sempra Energy, 1-877-736-7727, investor@sempra.com

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Sempra Energy