earnings
confidence high
sentiment neutral
materiality 0.70
Sempra Q2 GAAP EPS $1.91, adjusted EPS $1.88; revenue $3.34B, down 6% YoY
SOUTHERN CALIFORNIA GAS CO
- Q2 2023 GAAP earnings $603M ($1.91/diluted) vs $559M ($1.77) YoY; adjusted $594M ($1.88) vs $626M ($1.98).
- Revenue $3.335B vs $3.547B YoY, driven by lower cost pass-throughs at utilities and infrastructure.
- Segment earnings: SDG&E $184M, SoCalGas $155M, Sempra Texas $160M, Sempra Infrastructure $208M.
- SoCalGas earnings nearly doubled YoY to $155M from $87M, partly due to absence of Aliso Canyon charges.
- First-half GAAP EPS $4.97 vs $3.70; adjusted EPS $4.80 vs $4.90; guidance reaffirmed.