Sempra Q2 2024 Earnings Report
Key Takeaways
Sempra reported a rise in GAAP earnings but a decrease in adjusted earnings for Q2 2024. The company is focusing on growth across its business platforms, driven by electrification, economic development, and demand for cleaner energy. Oncor reached a settlement in principle on its System Resiliency Plan.
Sempra's GAAP earnings for Q2 2024 were $713 million, or $1.12 per diluted share, compared to $603 million, or $0.95 per diluted share, for Q2 2023.
Adjusted earnings for Q2 2024 were $567 million, or $0.89 per diluted share, compared to $594 million, or $0.94 per diluted share, for Q2 2023.
Oncor reached a settlement in principle regarding its System Resiliency Plan, with potential capital investments of nearly $3 billion over three years.
Sempra is updating its full-year 2024 GAAP EPS guidance range to $4.74 to $5.04, and affirming its full-year 2024 adjusted EPS guidance range of $4.60 to $4.90.
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Sempra Revenue by Segment
Forward Guidance
Sempra is updating its full-year 2024 GAAP earnings-per-common share (EPS) guidance range to $4.74 to $5.04 reflecting actual results through the second quarter, affirming its full-year 2024 adjusted EPS guidance range of $4.60 to $4.90 and affirming its full-year 2025 EPS guidance range of $4.90 to $5.25. The company is also affirming its projected long-term EPS growth rate of approximately 6% to 8%.