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Sempra
🇺🇸 NYSE:SRE
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•
Dec 31, 2021

Sempra Q4 2021 Earnings Report

Sempra's financial performance reflected an increase in earnings compared to the previous year.

Key Takeaways

Sempra reported Q4 2021 earnings of $604 million, or $1.90 per diluted share, compared to $414 million, or $1.43 per diluted share, in Q4 2020. On an adjusted basis, Q4 2021 earnings were $688 million, or $2.16 per diluted share, compared to $668 million, or $2.28 per diluted share in Q4 2020. The company increased its five-year capital plan to a company-record $36 billion and raised its annualized common stock dividend for the 12th consecutive year.

Increased five-year capital plan to a company-record $36 billion.

Raised annualized common stock dividend for the 12th consecutive year.

Announced 6-8% long-term EPS growth rate.

Reaffirmed 2022 and issued 2023 EPS guidance range.

Total Revenue
$3.84B
Previous year: $3.17B
+21.2%
EPS
$1.08
Previous year: $0.95
+13.7%
Gross Profit
$1.55B
Previous year: $1.31B
+18.7%
Cash and Equivalents
$559M
Previous year: $960M
-41.8%
Total Assets
$72B
Previous year: $66.6B
+8.1%

Sempra

Sempra

Sempra Revenue by Segment

Forward Guidance

Sempra is reaffirming its full-year 2022 earnings per common share (EPS) guidance range of $8.10 to $8.70 and announcing its full-year 2023 EPS guidance range of $8.60 to $9.20. Starting from the midpoint of the 2022 EPS guidance range, Sempra expects to grow long-term EPS at a compound annual growth rate of approximately 6% to 8% through 2026.

Positive Outlook

  • Reaffirming its full-year 2022 EPS guidance range of $8.10 to $8.70.
  • Announcing its full-year 2023 EPS guidance range of $8.60 to $9.20.
  • Expecting to grow long-term EPS at a compound annual growth rate of approximately 6% to 8% through 2026.
  • Focused T&D strategy with an emphasis on utility platforms.
  • Record $36 billion five-year capital plan supports positive view of the earnings power of the business going forward.

Challenges Ahead

  • Risks related to California wildfires and potential liability for damages.
  • Regulatory and governmental decisions and actions.
  • Success of business development efforts, construction projects, and acquisitions and divestitures.
  • Resolution of civil and criminal litigation and regulatory inquiries.
  • Changes to laws and trade rules in Mexico that could limit access to the electric generation market.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Sempra