Sempra Reports Second-Quarter 2025 Results

Financial Performance - Sempra reported second-quarter 2025 GAAP earnings of $461 million or $0.71 per diluted share, a decrease from $713 million or $1.12 per diluted share in the same quarter of 2024 [1][3] - Adjusted earnings for the second quarter of 2025 were $583 million or $0.89 per diluted share, compared to $567 million or $0.89 per diluted share in 2024 [1][3] - For the first half of 2025, GAAP earnings totaled $1.367 billion, down from $1.514 billion in the first half of 2024 [3][21] Value Creation Initiatives - Sempra is focused on five value creation initiatives for 2025, including capital recycling programs [2][4] - The company has signed a non-binding letter of intent with KKR for the planned sale of equity at Sempra Infrastructure and is advancing the sale process for Ecogas México, expected to close in 2026 [4] Legislative and Regulatory Developments - Texas passed new legislation, House Bill 5247, to help utilities manage regulatory lag and improve returns on equity during high investment periods [5] - Oncor Electric Delivery Company has begun utilizing an alternative tracker mechanism to enhance electric reliability and has seen a nearly 40% increase in active transmission requests compared to the previous year [6][7] Infrastructure and Capital Expenditures - Sempra California is investing over $1.2 billion to modernize energy networks and meet growing demand [9] - Sempra Infrastructure is progressing on five significant construction projects, including the Port Arthur LNG Phase 2 project, which received export authorization for 13.5 million tonnes per annum [10][11] Earnings Guidance - The company updated its full-year 2025 GAAP EPS guidance range to $4.05 to $4.45 and affirmed its adjusted EPS guidance range of $4.30 to $4.70 [12][27]