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Jun 30, 2025
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.
Revenue by Segment
Revenue by Geographic Location
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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