Sempra Energy ( (SRE) ) has released its Q3 earnings. Here is a breakdown of the information Sempra Energy presented to its investors.
Sempra is a leading North American energy infrastructure company dedicated to delivering energy solutions to nearly 40 million consumers, with operations spanning California, Texas, Mexico, and global energy markets. The company is recognized for its sustainable business practices and high-performance culture.
Sempra has announced its third-quarter 2024 earnings, reporting GAAP earnings of $638 million, or $1.00 per diluted share, which is a decrease from $721 million, or $1.14 per diluted share, in the same period last year. Adjusted earnings also saw a decline, reflecting the challenges posed by foreign currency impacts and commodity derivative valuations.
Key financial metrics for Sempra included GAAP earnings for the first nine months of 2024 at $2.152 billion, down from $2.293 billion in 2023. The company is making significant strides in infrastructure investments across its segments, notably in Sempra Texas, where substantial capital investments are planned, and in Sempra Infrastructure, which continues to develop LNG projects in response to global energy demands.
Despite lower earnings, Sempra remains focused on its strategic initiatives, including improving safety, operations, and affordability for customers. The company is confident in its future growth, maintaining its earnings-per-share guidance and long-term growth outlook.
Looking ahead, Sempra is optimistic about continued growth driven by its investment plans in Texas and infrastructure projects internationally. The company remains committed to enhancing energy security and supporting global decarbonization efforts, positioning itself as a leader in energy infrastructure development.
