Summary
Sempra Energy (SRE) reported solid financial results for the second quarter of 2022, with earnings attributable to common shares increasing to $559 million, or $1.77 per diluted share, compared to $424 million, or $1.37 per diluted share, in the prior year's quarter. This performance was driven by robust growth across its Sempra Infrastructure and Sempra Texas Utilities segments, partially offset by lower earnings at SDG&E and SoCalGas. The company's strong operational execution and strategic investments in energy infrastructure continue to fuel growth. Financially, Sempra demonstrated a healthy balance sheet with total assets of $75.6 billion and total equity of $29.1 billion as of June 30, 2022. The company generated strong operating cash flows of $2.4 billion for the six months ended June 30, 2022, supporting its capital expenditure programs and debt management. Sempra also actively managed its capital structure, including share repurchases and debt issuances, to enhance shareholder value. The company's significant investment in Sempra Infrastructure, particularly in LNG projects, positions it for future growth in the global energy transition.
Financial Highlights
45 data points| Revenue | $3.55B |
| Interest Expense | $271.00M |
| Net Income | $559.00M |
| EPS (Basic) | $0.89 |
| EPS (Diluted) | $0.89 |
| Shares Outstanding (Basic) | 629.69M |
| Shares Outstanding (Diluted) | 631.73M |
Key Highlights
- 1Net income attributable to common shares increased to $559 million for the three months ended June 30, 2022, up from $424 million in the same period of 2021.
- 2Diluted EPS rose to $1.77 per share for the quarter, compared to $1.37 per share in the prior year.
- 3Sempra Infrastructure saw a significant increase in earnings, driven by asset optimization, favorable foreign currency effects, and higher equity earnings from Cameron LNG JV.
- 4Sempra Texas Utilities reported strong growth in earnings, primarily due to higher equity earnings from Oncor Holdings.
- 5Total cash provided by operating activities for the six months ended June 30, 2022, was $2,364 million, an increase from $2,255 million in the prior year.
- 6Sempra repurchased $250 million of its common stock under an Accelerated Share Repurchase (ASR) program in the second quarter of 2022.
- 7The company has a strong liquidity position with $1.93 billion in cash and cash equivalents and $9.15 billion in available unused credit as of June 30, 2022.