UPDATE: Sempra Energy Reports Q1 Profit of $258 million

Sempra Energy Inc SRE reported its first-quarter results on Monday. The company's quarterly profit surged to $258 million, or $1.07 per share, from $106 million, or $0.43 per share, in the year-earlier period. The company's revenue dropped to $2.43 billion, from $2.53 billion. However, analysts were expecting earnings of $0.97 per share on revenue of $2.58 billion. The company's earnings for its San Diego Gas & Electric unit surged by $6 million to $89 million. Sempra Pipelines & Storage's earnings surged by $16 million to $54 million. Sempra LNG's earnings increased by $1 million to $33 million. SRE shares fell 0.35% to $54.67 at 10:00 am. Read more from Benzinga's Company news.