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Jun 30
Sempra Q2 2025 Earnings Report
Sempra reported Q2 2025 results with $461 million in GAAP net income and strong operational progress across segments, despite a year-over-year earnings decline.
Key Takeaways
In Q2 2025, Sempra delivered $461 million in GAAP net income and $583 million in adjusted earnings. Revenue was steady at $3.0 billion. EPS came in at $0.71 and adjusted EPS at $0.89. Segment contributions were led by Sempra California and Sempra Texas, while Sempra Infrastructure saw a significant year-over-year decline in contribution.
GAAP net income of $461 million, down from $713 million in Q2 2024.
Adjusted earnings rose to $583 million with EPS flat at $0.89 YoY.
Sempra Infrastructure contributed only $72 million, down from $291 million last year.
Revenue held steady at $3.0 billion despite cost pressures and currency impacts in Mexico.
Sempra
Sempra
Sempra Revenue by Segment
Sempra Revenue by Geographic Location
Revenue by Segment
Sempra California Revenue
CapyFin.comSempra Texas Revenue
CapyFin.comRevenue by Geographic Location
California Revenue
CapyFin.comTexas Revenue
CapyFin.com Forward Guidance
Sempra reaffirmed its 2025 adjusted EPS guidance of $4.30–$4.70 and continues to target strategic asset sales and capital investments to drive long-term earnings growth.
Positive Outlook
- Reaffirmed full-year 2025 adjusted EPS guidance of $4.30–$4.70
- Progress on Port Arthur LNG Phase 2 with new 20-year JERA agreement
- Legislative support in Texas for regulatory lag reduction via new Unified Tracker Mechanism
- Awarded $600M in new transmission projects by California ISO
- Invested over $1.2B in modernizing California energy infrastructure
Challenges Ahead
- Sempra Infrastructure earnings dropped significantly YoY
- Continued FX and inflation impact in Mexico operations
- Higher interest expense weighed on consolidated results
- Cash balance decreased sharply from $1.6B to $155M
- Net investing cash flow outlay of $5.56B led to negative free cash flow