Core Viewpoint - Sempra Energy reported a decline in adjusted earnings per share (EPS) for the second quarter of 2024, missing consensus estimates and showing a year-over-year decrease in both adjusted and GAAP earnings [1][2]. Financial Performance - Adjusted EPS for Q2 2024 was 89 cents, missing the Zacks Consensus Estimate of 92 cents by 3.3% and down 5.3% from 94 cents in the same quarter last year [1]. - Total revenues for the quarter were $3.01 billion, a decline of 9.79% from $3.34 billion in the prior-year quarter, and missed the consensus estimate of $3.52 billion by 14.5% [2]. Segmental Update - Sempra California reported earnings of $316 million, down from $339 million in the prior-year quarter [3]. - Sempra Texas Utility saw an increase in earnings from $160 million to $202 million year-over-year [3]. - Sempra Infrastructure recorded earnings of $291 million, up from $208 million in the same quarter last year [3]. - The Parent and Other segment reported a loss of $96 million, which was an improvement from a loss of $104 million in the prior-year period [3]. Financial Update - As of June 30, 2024, cash and cash equivalents totaled $228 million, a slight decrease from $236 million as of December 31, 2023 [4]. - Long-term debt and finance leases increased to $28.97 billion from $27.76 billion as of December 31, 2023 [4]. - Cash flow from operating activities decreased from $3.74 billion in the first half of 2023 to $2.52 billion in the first half of 2024 [4]. Guidance - Sempra anticipates 2024 earnings in the range of $4.60-$4.90 per share, with the Zacks Consensus Estimate at $4.79 per share [5]. - For 2025, the company expects earnings to be in the range of $4.90-$5.25 per share, with the consensus estimate at $5.13 per share [5]. - The company maintains a long-term EPS growth rate expectation of 6-8% [5].

Core Insights - Sempra reported quarterly earnings of $0.89 per share, missing the Zacks Consensus Estimate of $0.92 per share, and down from $0.94 per share a year ago, representing an earnings surprise of -3.26% [1] - The company posted revenues of $3.01 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 14.54%, and down from $3.34 billion year-over-year [2] - Sempra has only surpassed consensus EPS estimates once in the last four quarters and has not beaten consensus revenue estimates during the same period [2] Earnings Outlook - The sustainability of Sempra's stock price movement will depend on management's commentary during the earnings call and future earnings expectations [3] - The current consensus EPS estimate for the upcoming quarter is $1.11 on revenues of $3.81 billion, and for the current fiscal year, it is $4.79 on revenues of $15.08 billion [7] Industry Context - The Utility - Gas Distribution industry, to which Sempra belongs, is currently ranked in the top 15% of over 250 Zacks industries, indicating a favorable outlook for stocks in this sector [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that Sempra's stock may outperform the market based on its current Zacks Rank of 2 (Buy) [5][6]

DALLAS, Aug. 6, 2024 /PRNewswire/ -- Oncor Electric Delivery Company LLC ("Oncor") today reported three months ended June 30, 2024 net income of $251 million compared to three months ended June 30, 2023 net income of $200 million. The $51 million increase was driven by higher revenues primarily due to updated interim rates to reflect increases in invested capital, increases in transmission billing units, higher customer consumption primarily attributable to weather, the new base rates implemented in May 202 ...

Financial Performance - Sempra reported second-quarter 2024 GAAP earnings of $713 million, or $1.12 per diluted share, an increase from $603 million, or $0.95 per diluted share in the same quarter of 2023 [1][2] - Adjusted earnings for the second quarter of 2024 were $567 million, or $0.89 per diluted share, compared to $594 million, or $0.94 per diluted share in the second quarter of 2023 [1][2] - For the first six months of 2024, GAAP earnings were $1.514 billion, or $2.38 per diluted share, down from $1.572 billion, or $2.49 per diluted share in the first half of 2023 [1][2] Operational Highlights - Sempra's California utilities are focused on expanding and modernizing energy networks to provide safe, reliable, and cleaner energy [3] - The California Public Utilities Commission is reviewing rate requests, with a final decision expected by year-end 2024 [3] - Oncor Electric Delivery Company reached a settlement regarding a $3 billion System Resiliency Plan, expected to begin implementation in Q4 2024 [4] Infrastructure Development - Oncor had 814 active generation and large commercial and industrial transmission point-of-interconnection requests, a 13% increase from the end of Q2 2023, indicating growing demand for new infrastructure [4] - Sempra Infrastructure is advancing its liquefied natural gas (LNG) projects, with Port Arthur LNG Phase 1 under construction and a proposed Phase 2 expansion project progressing [4] - The company signed a non-binding agreement with Aramco for the purchase of 5 million tonnes per annum of LNG, highlighting strong interest in its LNG development projects [4] Earnings Guidance - Sempra updated its full-year 2024 GAAP EPS guidance range to $4.74 to $5.04 and affirmed its adjusted EPS guidance range of $4.60 to $4.90 [5][11] - The company also affirmed its projected long-term EPS growth rate of approximately 6% to 8% [5]

Core Viewpoint - Sempra Energy (SRE) is expected to report its second-quarter 2024 results on August 6, with a prior negative earnings surprise of 0.74% but a four-quarter average earnings surprise of 3.87% [1] Factors at Play - Warmer-than-normal temperatures and drought conditions in SRE's service territories likely increased electricity demand for cooling, positively impacting overall revenue [2] - Adverse weather events, including severe storms and tornadoes, may have caused outages for some customers, potentially negatively affecting revenues [3] - Increased operational and maintenance expenses due to infrastructural damage from adverse weather, along with higher interest expenses, are expected to negatively impact the bottom line [4] - Strong sales expectations and favorable returns from previous investments are anticipated to support earnings growth in the second quarter [5] Q2 Expectations - The Zacks Consensus Estimate for SRE's second-quarter sales is $3.52 billion, reflecting a 5.6% increase from the previous year [6] - The estimated earnings for Sempra Energy in the second quarter is 98 cents per share, indicating a 4.3% rise from the same quarter in 2023 [6] Earnings Prediction Model - The current model does not predict an earnings beat for SRE, with an Earnings ESP of -5.80% and a Zacks Rank of 2 (Buy) [7][8]

SOUTH FRESNO, Calif., Aug. 1, 2024 /PRNewswire-HISPANIC PR WIRE/ -- The Latino Restaurant Association (LRA) is excited to announce a new grant opportunity, sponsored by SoCalGas, to support local restaurant owners. This initiative will provide financial assistance to 35 restaurants in South Fresno, Kings, and Tulare Counties, focusing on restaurant owners of Latino heritage and those who have made significant contributions to the Latino community. "We are thrilled to collaborate with SoCalGas to support our ...

Core Viewpoint - Sempra (SRE) is anticipated to report a year-over-year increase in earnings driven by higher revenues, with a consensus EPS estimate of $0.98 per share, reflecting a 4.3% increase compared to the previous year [1][2]. Earnings Estimates - The consensus EPS estimate has been revised down by 2.82% over the last 30 days, indicating a bearish sentiment among analysts regarding the company's earnings prospects [3][6]. - Revenues for the upcoming quarter are expected to reach $3.52 billion, representing a 5.6% increase from the same quarter last year [18]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a favorable Zacks Rank [4][5]. - Sempra currently has a negative Earnings ESP of -5.80%, which implies a lower likelihood of beating the consensus EPS estimate [6][14]. Historical Performance - Over the last four quarters, Sempra has beaten consensus EPS estimates twice, indicating some potential for positive surprises [15]. Upcoming Earnings Report - The earnings report is scheduled for release on August 6, 2024, and could significantly influence the stock price depending on whether the results meet or exceed expectations [17].

Group 1: Scholarship Program Overview - Southern California Gas Co. (SoCalGas) announced a total of $314,000 in scholarships for 29 students in Central and Southern California to pursue higher education [1] - The scholarship program offers $5,000 per year for four years to students attending four-year universities, renewable for a total of $20,000, while community college and trade school attendees receive $1,000 each [1][2] - A total of 28 scholarship recipients from previous years will have their $5,000 scholarships renewed [1] Group 2: Evaluation Criteria and Collaboration - The SoCalGas Scholarship Program evaluates students based on academic achievements, community involvement, financial need, and personal statements related to sustainable energy [2] - The program is in collaboration with Scholarship America® and aims to provide financial assistance to students in various fields including science, technology, engineering, math, finance, and skilled trades [2] Group 3: Community Engagement and Future Plans - SoCalGas hosted a virtual recognition event for scholarship recipients to learn about the company's mission and available internships [3] - Under the ASPIRE 2045 Sustainability Strategy, SoCalGas plans to invest $50 million over five years to enhance community support and promote diversity in the workplace [10] - Since the program's inception in 2001, SoCalGas has awarded over $3.9 million in scholarships to 2,355 students, demonstrating a long-term commitment to education and community empowerment [9] Group 4: Company Profile - SoCalGas is the largest gas distribution utility in the U.S., serving approximately 21 million consumers across 24,000 square miles in Central and Southern California [11] - The company's mission is to build a clean, safe, and innovative energy infrastructure, supporting California's clean energy transition [11] - SoCalGas has been recognized as one of Reuters' Top 100 Innovators Leading the Global Energy Transition and has received accolades from the Los Angeles Chamber of Commerce [11]

Sempra executives will host a conference call at 12 p.m. ET on Tuesday, August 6 that will include discussion of Oncor's second quarter 2024 operational and financial results. Investors, media, analysts and the public may listen to a live webcast of the conference call by registering on the Investors section of Sempra's website and clicking on the appropriate link. Prior to the conference call, an accompanying slide presentation will be posted on sempra.com/investors. Oncor's Quarterly Report on Form 10-Q f ...

Company Overview - Sempra (NYSE: SRE) is a leading North American energy infrastructure company serving nearly 40 million consumers [3] - The company owns one of the largest energy networks in North America, focusing on electrifying and enhancing energy resilience in key markets such as California, Texas, and Mexico [3] - Sempra is recognized for its sustainable business practices and operational excellence, evidenced by its inclusion in the Dow Jones Sustainability Index North America and The Wall Street Journal's Best Managed Companies [3] Upcoming Events - Sempra plans to release its second-quarter 2024 earnings on August 6 at 8 a.m. ET [4] - A conference call will be hosted by senior leaders, including the chairman and CEO, at 12 p.m. ET on the same day [1] - An accompanying slide presentation detailing the earnings results will be available on Sempra's Investors site by 8 a.m. ET on August 6 [5]