Summary
Sempra reported solid financial results for the first quarter of 2025, with earnings attributable to common shares increasing by 13.1% year-over-year to $906 million, or $1.39 per diluted share, up from $801 million, or $1.26 per diluted share, in the prior year's first quarter. This growth was primarily driven by a significant increase in Sempra California's earnings, boosted by higher CPUC-authorized revenues and a favorable shift in income tax benefits related to gas repairs tax benefits. Sempra Infrastructure also contributed positively with a 11% increase in earnings, driven by favorable foreign currency impacts and lower provisions for expected credit losses, partially offset by less favorable commodity derivative impacts. However, Sempra Texas Utilities experienced a 20% decrease in earnings, mainly due to higher interest, depreciation, and O&M expenses at Oncor Holdings, despite revenue growth. The company's overall financial health remains robust, supported by strong operating cash flows and ample liquidity from committed credit facilities. Capital expenditures remain substantial, with $2.82 billion invested in PP&E and investments during the quarter, supporting long-term growth initiatives. The company continues to navigate regulatory environments and manage its diverse portfolio of energy infrastructure projects across North America.
Financial Highlights
43 data points| Revenue | $3.68B |
| Net Income | $917.00M |
| EPS (Basic) | $1.39 |
| EPS (Diluted) | $1.39 |
| Shares Outstanding (Basic) | 651.99M |
| Shares Outstanding (Diluted) | 653.02M |
Key Highlights
- 1Net income attributable to common shares increased to $906 million ($1.39/share) in Q1 2025 from $801 million ($1.26/share) in Q1 2024.
- 2Sempra California segment earnings increased by 24% primarily due to higher CPUC base operating margin and lower authorized cost of capital, as well as increased income tax benefits.
- 3Sempra Infrastructure earnings grew by 11% driven by favorable foreign currency impacts and lower provisions for expected credit losses, despite headwinds from commodity derivatives.
- 4Sempra Texas Utilities segment earnings decreased by 20% due to higher expenses at Oncor Holdings, impacting equity earnings.
- 5Total capital expenditures for property, plant, and equipment (PP&E) and investments increased to $2.82 billion in Q1 2025 from $2.13 billion in Q1 2024.
- 6The company has substantial liquidity, with $1.74 billion in unrestricted cash and cash equivalents and $8.5 billion in available unused credit for Sempra.
- 7Sempra continues to advance its strategic projects, including those in LNG infrastructure, while managing regulatory and operational complexities.