Sempra Q1 GAAP EPS drops to $1.93 from $2.87; adjusted EPS $2.91 vs $2.95

SOUTHERN CALIFORNIA GAS CO

GAAP net income $612M ($1.93/diluted share) vs $874M ($2.87) in Q1 2021; revenue $3.82B up 17%.
Adjusted net income $924M ($2.91/diluted share) vs $900M ($2.95); flat on higher diluted share count of 317M vs 308M.
Aliso Canyon litigation charge of $66M after tax from settlement of four of five property developer claims.
Deferred tax expense of $120M booked due to change in indefinite reinvestment assertion related to pending sale of non-controlling interest to ADIA.
SoCalGas segment earnings $334M vs $407M; revenues rose 32% to $1.99B.

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