Summary
Sempra (SRE) reported its financial results for the second quarter and first half of 2025. The company's overall performance saw a decrease in net income for both the three-month and six-month periods ending June 30, 2025, compared to the same periods in 2024. This decline was primarily driven by negative foreign currency and inflation effects impacting Sempra Infrastructure, along with certain regulatory disallowances for COVID-19 costs at Sempra California. Despite the overall decrease in net income, Sempra California's earnings saw an increase in the first half of the year due to higher CPUC-authorized base revenues and favorable tax treatments, although this was partially offset by higher interest expenses and regulatory disallowances. Sempra Texas Utilities reported a slight increase in earnings for the quarter but a decrease for the first half, mainly due to changes in equity earnings from Oncor Holdings. Sempra Infrastructure experienced a significant earnings decline, largely attributable to adverse foreign currency and inflation impacts, as well as a deferred tax liability recognized related to the planned sale of Ecogas. Looking ahead, Sempra remains focused on its strategic capital expenditure plan, with approximately $2.6 billion in common stock still available under its at-the-market program. The company continues to navigate regulatory environments, particularly with ongoing proceedings at the CPUC for SDG&E and SoCalGas, and faces various legal and operational risks, including those related to wildfires and infrastructure projects in Mexico.
Financial Highlights
43 data points| Revenue | $2.70B |
| Net Income | $473.00M |
| EPS (Basic) | $0.71 |
| EPS (Diluted) | $0.71 |
| Shares Outstanding (Basic) | 652.66M |
| Shares Outstanding (Diluted) | 653.22M |
Key Highlights
- 1Sempra reported a decrease in net income attributable to common shares to $461 million ($0.71 per share) for the three months ended June 30, 2025, down from $713 million ($1.13 per share) in the prior year period.
- 2For the six months ended June 30, 2025, net income attributable to common shares decreased to $1.367 billion ($2.10 per share), compared to $1.514 billion ($2.39 per share) in the same period of 2024.
- 3Sempra California's earnings increased in the first half of 2025 due to higher CPUC-authorized revenues, despite facing regulatory disallowances and higher interest expenses.
- 4Sempra Infrastructure's earnings were significantly impacted by negative foreign currency and inflation effects, along with a recognized deferred tax liability related to the planned sale of Ecogas.
- 5The company has approximately $2.6 billion in common stock remaining available for sale under its at-the-market (ATM) program.
- 6Capital expenditures for property, plant, and equipment, and investments for the six months ended June 30, 2025, totaled $5.612 billion, an increase from $4.217 billion in the prior year period.
- 7The company continues to manage various regulatory matters, including pending General Rate Cases for SDG&E and SoCalGas, and faces ongoing legal and operational challenges.