Sempra Energy (doing business as Sempra)

SRE

Equity

ISIN US8168511090 / Valor 837438

New York Stock Exchange, Inc (2024-12-26)

USD 87.61-0.40%

Sempra Energy (doing business as Sempra)
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About company

Sempra Energy, operating as Sempra, is an energy infrastructure company with a focus on connecting millions through innovative energy solutions. With approximately 20,000 employees worldwide, Sempra serves around 40 million consumers globally. The company, headquartered in San Diego, CA, is a leader in the energy industry, striving for sustainable long-term growth with $87 billion in total assets. Sempra is dedicated to delivering energy with purpose and making a positive impact on the communities it serves through forward-thinking initiatives.

Summarized from source with an LLMView SourceSector: Energy

Third-Quarter 2024 Earnings

Sempra Energy (doing business as Sempra) reported third-quarter 2024 earnings of $638 million, or $1.00 per diluted share, under GAAP. This is a decrease from the third-quarter 2023 GAAP earnings of $721 million, or $1.14 per diluted share. On an adjusted basis, the company's earnings for the third quarter of 2024 were $566 million, or $0.89 per diluted share, compared to $685 million, or $1.08 per diluted share, in the same period of 2023.

First Nine Months of 2024 Earnings

For the first nine months of 2024, Sempra Energy's GAAP earnings were $2.152 billion, or $3.38 per diluted share. This is a slight decrease from the $2.293 billion, or $3.63 per diluted share, reported for the first nine months of 2023. Adjusted earnings for the same period in 2024 were $1.987 billion, or $3.12 per diluted share, compared to $2.201 billion, or $3.48 per diluted share, in 2023.

California Operations and Investments

Sempra California's focus during the third quarter of 2024 was on delivering energy safely and reliably to its 25 million consumers while keeping bills low. The San Diego region set a new peak electricity demand record of over 5 gigawatts in September. Investments in energy storage and infrastructure modernization helped minimize energy interruptions despite high-heat conditions.

Texas Operations and Growth

In Texas, Sempra's Oncor Electric Delivery Company LLC is experiencing significant growth, with a 38% year-over-year increase in new transmission point of interconnection requests. Oncor's System Resiliency Plan, which includes nearly $3 billion in capital expenditures, is under review. The company anticipates a 40-50% increase in its five-year capital plan, reflecting higher levels of capital investment in grid expansion and reliability.

Updated Earnings Guidance

Sempra Energy has updated its full-year 2024 GAAP earnings-per-common share (EPS) guidance range to $4.86 to $5.16, reflecting actual results through the third quarter. The company is affirming its full-year 2024 adjusted EPS guidance range of $4.60 to $4.90 and its full-year 2025 EPS guidance range of $4.90 to $5.25. Additionally, Sempra has implemented a $3 billion at-the-market equity offering program to support future financing needs.

Summarized from source with an LLMView Source

Key figures

17.7%1Y

35.4%3Y

15.6%5Y

Performance

18.6%1Y

20.8%3Y

28.2%5Y

Volatility