Sempra Reports $638M Q3 Earnings

By Bobby Samwell • Wednesday, November 06 15:37 • Permanent Link

Sempra (NYSE: SRE) has reported its third-quarter 2024 earnings, prepared in accordance with generally accepted accounting principles (GAAP), of $638 million, or $1.00 per diluted share, compared to third-quarter 2023 GAAP earnings of $721 million, or $1.14 per diluted share. On an adjusted basis, the company’s third-quarter 2024 earnings were $566 million, or $0.89 per diluted share, compared to $685 million, or $1.08 per diluted share in the third quarter of 2023.

For the first nine months of 2024, Sempra's GAAP earnings were $2.152 billion, or $3.38 per diluted share, compared with GAAP earnings of $2.293 billion, or $3.63 per diluted share, in the first nine months of 2023. Adjusted earnings for the first nine months of 2024 were $1.987 billion, or $3.12 per diluted share, compared to $2.201 billion, or $3.48 per diluted share, in the first nine months of 2023.

The reported financial results reflect certain significant items as described on an after-tax basis in the following table of GAAP earnings, reconciled to adjusted earnings, for the third quarter and first nine months of 2024 and 2023:

GAAP EPS for the third quarter of 2024 was $1.00 compared to $1.14 in the third quarter of 2023.
Adjusted EPS for the third quarter of 2024 was $0.89 compared to $1.08 in the third quarter of 2023.
GAAP EPS for the first nine months of 2024 was $3.38 compared to $3.63 in the first nine months of 2023.
Adjusted EPS for the first nine months of 2024 was $3.12 compared to $3.48 in the first nine months of 2023.

Sempra also updated its full-year 2024 GAAP earnings-per-common share (EPS) guidance range to $4.86 to $5.16, reflecting actual results through the third quarter, and affirmed its full-year 2024 adjusted EPS guidance range of $4.60 to $4.90. The company is also affirming its full-year 2025 EPS guidance range of $4.90 to $5.25.

Sempra is updating its full-year 2024 GAAP earnings-per-common share (EPS) guidance range to $4.86 to $5.16 reflecting actual results through the third quarter and affirming its full-year 2024 adjusted EPS guidance range of $4.60 to $4.90. The company is also affirming its full-year 2025 EPS guidance range of $4.90 to $5.25.

Sempra (NYSE: SRE) is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets, including California, Texas, Mexico, and global energy markets. Today the company's shares have moved 7.3% to a price of $88.25. For more information, read the company's full 8-K submission here.

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