Sempra
Sempra Reports Q3 2024 Earnings Decline
Summary
Sempra reported a decrease in third-quarter 2024 earnings to $638 million, or $1.00 per diluted share, compared to $721 million, or $1.14 per diluted share, in the same period of 2023. The decline was due to factors including equity losses from the write-off of rate base disallowances in Oncor, and impacts from foreign currency and inflation on monetary positions in Mexico. Sempra's GAAP earnings for the first nine months of 2024 were $2.152 billion, compared to $2.293 billion in 2023. Adjusted earnings for the first nine months of 2024 were $1.987 billion, compared to $2.201 billion in 2023. Sempra updated its full-year 2024 GAAP earnings-per-common share (EPS) guidance range to $4.86 to $5.16 and affirmed its full-year 2024 adjusted EPS guidance range of $4.60 to $4.90.
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About Sempra
Sempra is a diversified energy services company primarily engaged in the generation, transmission, and distribution of electricity and natural gas. As a key player in the energy sector, Sempra operates through several key subsidiaries, focusing on different aspects of utility services and renewable energy solutions. The company serves millions of consumers across North America, emphasizing sustainable practices and the integration of renewable energy sources into its grid. Its investments in liquefied natural gas (LNG) exports and infrastructure position Sempra as a significant contributor to global energy markets. By balancing traditional energy production with innovative, sustainable solutions, Sempra plays a critical role in meeting the growing energy demands while aligning with global decarbonization efforts. Its strategic initiatives aim to provide reliable energy solutions while supporting economic growth and environmental stewardship in its service areas.
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