Welcome to our dedicated page for Sempra Energy news (Ticker: SRE), a resource for investors and traders seeking the latest updates and insights on Sempra Energy stock.
Sempra reports developments for a North American energy infrastructure company centered on regulated utility networks in California and Texas. Recurring news includes Sempra earnings, operational and financial results from Oncor, and updates from Southern California Gas Company and San Diego Gas & Electric on natural gas delivery, underground storage, grid reliability, customer affordability and energy resilience.
Company updates also cover utility capital plans, rate and regulatory mechanisms, customer growth, preferred dividend actions at SoCalGas, and capital-structure activity tied to financing energy infrastructure across Sempra's utility businesses.
San Diego Gas & Electric (SDG&E) has developed an innovative digital tool, the Community Impact Platform, aimed at reducing fleet vehicle emissions in communities affected by pollution. Recognized on Fast Company’s 2022 World Changing Ideas list, the platform integrates AI with fleet GPS and socioeconomic data to optimize vehicle replacement. It has analyzed over eighty million data points to visualize carbon emissions, aligning with SDG&E’s sustainability goals in San Diego and Orange counties.
Southern California Gas Co. (SoCalGas) has renewed its commitment to supply renewable natural gas (RNG) across its 38 fueling stations, including six in the San Diego area, through new three-year contracts. This initiative has successfully avoided approximately 275,000 metric tons of CO2 emissions over the last three years, equivalent to nearly 31 million gallons of gasoline. The renewal reinforces partnerships with U.S. Gain and Element Markets, enhancing RNG availability as demand rises, and aligns with California's climate goals.
Oncor Electric Delivery Company reported a net income of $194 million for Q1 2022, a 15.4% increase from $168 million in Q1 2021. This growth is attributed to higher revenues from increased customer consumption and demand. The company continues to expand its service territory, with a 50% rise in active transmission point-of-interconnection requests. Oncor's capital expenditures reached $704 million, with a total approved budget of $3.0 billion for 2022. Liquidity remains strong at $2.1 billion, ensuring operational demands are met.
Sempra (NYSE: SRE) reported Q1 2022 earnings of $612 million ($1.93 per share), down from $874 million ($2.87 per share) in Q1 2021. Adjusted earnings increased to $924 million ($2.91 per share) from $900 million ($2.95 per share) in the previous year. Significant impacts included $66 million from Aliso Canyon litigation and $75 million from foreign currency and inflation. The company affirmed its 2022 GAAP EPS guidance of $7.11 to $7.71 and adjusted EPS guidance of $8.10 to $8.70.
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Southern California Gas Co. (SoCalGas) CEO, Scott Drury, has been selected to join the Wall Street Journal's CEO Council. This council includes influential leaders from 25 countries, representing companies generating over $3 trillion in annual revenue. Drury highlighted his commitment to sustainability and clean energy transition in California.
Under his leadership, SoCalGas aims for net zero greenhouse gas emissions by 2045. The company is actively developing solutions like the Angeles Link green hydrogen proposal.
Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE), announced a $50,000 contribution to the Memorial Park Conservancy on April 22, 2022, to support environmental infrastructure and resilient ecologies in Houston's largest urban park. This funding continues Sempra's commitment, following a total of $150,000 contributed in 2021. Over 50 employees volunteered, planting over 900 native plants during an Earth Day event, showcasing their dedication to community engagement and sustainability.
San Diego Gas & Electric (SDG&E) has launched the Ramona microgrid, providing backup power to the Ramona Air Attack Base, which aids in aerial firefighting efforts. This microgrid is part of the High Fire Threat District initiative and features 500 kW of battery storage, ensuring zero emissions. Built in partnership with CAL FIRE and the U.S. Forest Service, it aims to enhance emergency response capabilities during power shutoffs. SDG&E is committed to advancing clean energy solutions and has plans for three additional microgrids to bolster community resilience.
Oncor Electric Delivery Company LLC plans to release its first quarter 2022 results on May 5, before Sempra's conference call. The results will be accessible on Oncor's website, oncor.com. Sempra's executives will host a conference call at 12 p.m. ET discussing Oncor's financial and operational results for Q1 2022, with a subsequent slide presentation available on Sempra's site. A replay of the call will be offered shortly after its conclusion. Oncor operates the largest electricity distribution system in Texas, serving over 3.8 million customers.
Sempra (NYSE: SRE) will release its first-quarter 2022 earnings on May 5, 2022, at 7 a.m. ET, followed by a conference call at 12 p.m. ET. A slide presentation with detailed earnings results will also be available on its website at 7 a.m. ET. The call can be accessed live on the company's site or through a replay. Sempra operates one of North America’s largest energy networks, serving nearly 40 million consumers with over $72 billion in total assets at the end of 2021.