Sempra Energy

San Diego Gas & Electric provides natural gas and electricity to San Diego County and southern Orange County in southwestern California, United States. It is owned by Sempra Energy, a Fortune 500 energy services holding company based in San Diego. SDG&E is a regulated public utility that provides energy service to 3.3 million consumers through 1.4 million electric meters and more than 840,000 natural gas meters in San Diego and southern Orange counties. The utility's area spans 4,100 square miles. SDG&E employs about 5,000 people.

San Diego Gas & Electric

South California Gas Copany is the primary provider of natural gas to the region of Southern California. SoCalGas provides natural gas service for approximately 21.6 million customers, spanning roughly 20,000 square miles of California, extending from Visalia in the north to the Mexican border in the south. Gas service for San Diego County is provided by sister utility San Diego Gas & Electric, and Southwest Gas and the Long Beach Gas & Oil Department carve out small portions of the Southern California area for natural gas delivery.

Southern California Gas Company

Sempra is an energy-service holding company, which engages in the development and operation of energy infrastructure, and provision of electric and gas services. It operates through the following segments: Sempra California, Sempra Texas Utilities, Sempra Infrastructure, and All Other. The Sempra California segment offers natural gas and electric service to Southern California and part of central California through Sempra’s wholly owned subsidiaries, SDG&E and SoCalGas. The Sempra Texas Utilities holds investment in Oncor Holdings. The Sempra Infrastructure includes the operating companies of subsidiary, SI Partners, as well as a holding company and certain services companies. The company was founded on October 11, 1996, and is headquartered in San Diego, CA.

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Sempra Energy reports strong Q1 earnings and outlines growth strategy

Sempra Energy's Q1 2023 Earnings Call highlighted strong financial performance, strategic investments, and a robust capital plan. The company's focus on growth, income generation, and sustainability initiatives positions it well for future success in the energy sector.

Sempra Energy reports strong Q2 earnings, eyes growth in utilities and LNG projects

Sempra Energy's Q2 2023 earnings call highlighted strong financial performance, strategic focus on regulated utilities, and growth opportunities in transmission and LNG projects. The company faces challenges in regulatory environments and capital decisions but remains optimistic about its future prospects.

Sempra Energy surpasses Q3 earnings expectations, eyes disciplined growth

Sempra Energy's Q3 performance exceeded expectations, driven by strong operational results and growth opportunities in North America. The company is focused on disciplined capital allocation, exploring new projects, and aiming for consistent long-term growth.

Sempra Energy posts record earnings, eyes growth in infrastructure projects

Sempra Energy's Q4 2023 earnings call highlighted robust financial performance, a significant capital plan, and a focus on sustainable growth. The company's strategic investments in infrastructure and commitment to cleaner energy solutions position it well for long-term success amidst challenges and opportunities in the energy sector.

Sempra Energy excels in Q1 2024, poised for growth and resilience

Sempra Energy's Q1 2024 Earnings Call showcased strong financial performance, strategic positioning in growth markets, and a commitment to shareholder value. Despite challenges in regulatory impacts and financing, the company remains focused on growth, resiliency, and delivering strong financial returns.

Sempra Energy reports robust Q2 earnings, eyes growth in Texas

Sempra Energy's Q2 2024 Earnings Call highlighted strong financial performance, growth prospects in California and Texas, and a commitment to sustainability. Addressing challenges such as project delays and costs will be key to sustaining momentum and capitalizing on opportunities.

Sempra Energy reports robust earnings, eyes LNG growth opportunities

Sempra Energy's Q3 2024 earnings call showcased solid financial performance, a focus on infrastructure investment, and growth opportunities in the LNG sector. While facing regulatory challenges and financing inquiries, the company remains optimistic about its future prospects, driven by strong leadership and strategic initiatives.

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Despite near-term challenges of the Zacks Gas Distribution industry, systematic investment to strengthen infrastructure and efficiently supply natural gas to customers should drive the performance of ATO, MDU, SRE and NJR.

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Connected devices such as energy storage and smart thermostats centrally managed to reduce demand on the grid SAN DIEGO , Aug. 28, 2023 /PRNewswire/ -- As extreme heat records fall across the West and strain the power grid, San Diego Gas & Electric is piloting a new cleantech innovation known as a virtual power plant (a VPP) to reduce energy demand and put electricity back on the grid during peak hours – all through leveraging the capabilities of customer-owned smart thermostats, rooftop solar, energy storage and other connected resources such as water pumps. (Download project photos via this Dropbox link: VPP) Unlike a traditional power plant, a virtual power plant does not rely on a physical facility to generate electricity for the grid to distribute to homes and businesses.

SDG&E PIONEERS VIRTUAL POWER PLANT TO HELP EASE STRAIN ON THE POWER GRID DURING EXTREME HEAT

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Sempra (SRE) have what it takes?

Sempra (SRE) Could Be a Great Choice

SoCalGas' $100,000 Donation to Help Address Food Insecurity is Part of a $4 Million Initiative Fueling Our Communities LOS ANGELES , Aug. 22, 2023 /PRNewswire/ -- As part of SoCalGas' 2023 Fueling Our Communities initiative, the company announced a $100,000 donation to the Los Angeles Regional Food Bank that will provide approximately 400,000 meals to people throughout Los Angeles County. The grant to the Los Angeles Regional Food Bank is one of several donations to local charities, funding programs to provide meals and groceries this year.

Los Angeles Regional Food Bank Receives Donation to Provide Nearly 400,000 Meals from SoCalGas' Fueling Our Communities Initiative

SAN DIEGO , Aug. 17, 2023 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) today announced that it has appointed Richard Mark to the company's board of directors effective Aug. 21, 2023. Richard Mark is the former chairman and president of Ameren Illinois.

Sempra Appoints Richard Mark to Board of Directors

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While optimism in the broader market remains robust – particularly for hyped-up sectors like technology – investors may still want to consider the relative safety of dividend stocks to buy. Notably, in the trailing month, the benchmark S&P 500 index went absolutely nowhere.

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SoCalGas is part of a consortium proposing to develop California's first full-scale direct air capture and storage network of regional hubs The consortium will study the engineering requirements to capture 1 million metric tons of CO2 per year directly from the air LOS ANGELES , Aug. 11, 2023 /PRNewswire/ -- A consortium that includes Southern California Gas Co. (SoCalGas) today was awarded funding by the U.S. Department of Energy for a proposal to develop California's first full-scale direct air capture and storage network of regional hubs. "This is an important step in our efforts to help California decarbonize and reach net-zero goals.

SoCalGas and Consortium Partners Receive U.S. Department of Energy Award for Regional Direct Air Capture Hub in Kern County

The pilot project is expected to produce up to 4.5 billion cubic feet of RNG annually from orchard waste, along with almond, pistachio and walnut shells LOS ANGELES , Aug. 8, 2023 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) has filed an application with the California Public Utilities Commission (CPUC) to support the development of a pilot project that would utilize organic waste such as chipped wood, along with nut shells, and turn it into renewable natural gas (RNG). If approved, the project would be the largest RNG project in the state of California, producing up to 4.5 billion cubic feet of fuel each year from 400,000 to 500,000 tons of agricultural waste, some of which would otherwise be burned.

SoCalGas Files Application to Develop California's Largest Renewable Natural Gas Pilot Project, Turning Agricultural Waste into Fuel

The donation from SoCalGas' Fueling Our Communities Initiative will help provide nearly 93,000 meals and support healthy and culturally appropriate food options for Fresno, Kings, and Tulare Counties FRESNO, Calif. , Aug. 4, 2023 /PRNewswire/ -- Today, Southern California Gas Co. (SoCalGas) announced a $200,000 community investment grant that will sustain and enhance a select group of Central California Food Bank's School Pantry sites, Neighborhood Markets, and Farmworker Community Program distributions in Fresno, Kings, and Tulare counties.

Central California Food Bank Receives $200,000 Donation from SoCalGas to Enhance Healthy Food Distributions for 7,500 Individuals Throughout Central California

Sempra (NYSE:SRE ) Q2 2023 Earnings Conference Call August 3, 2023 12:00 PM ET Company Participants Glen Donovan - VP, IR Jeffrey Martin - Chairman, President & CEO Trevor Mihalik - CFO & EVP Justin Bird - CEO Allen Nye - CEO & Director Faisel Khan - Former SVP, Finance Kevin Sagara - EVP & Group President, California Utilities Conference Call Participants Shahriar Pourreza - Guggenheim Securities Durgesh Chopra - Evercore ISI Julien Dumoulin-Smith - Bank of America Merrill Lynch Nicholas Campanella - Crédit Suisse Jeremy Tonet - JPMorgan Chase & Co. Steven Fleishman - Wolfe Research Carly Davenport - Goldman Sachs Group Operator Good day, and welcome to Sempra's Second Quarter Earnings Call. Today's conference is being recorded.

Sempra (SRE) Q2 2023 Earnings Call Transcript

Sempra's (SRE) Q2 revenues of $3,335 million decline 6% from the year-ago quarter's level. The top line also misses the Zacks Consensus Estimate by 8.3%.

Sempra (SRE) Q2 Earnings Beat Estimates, Revenues Fall Y/Y

While the top- and bottom-line numbers for Sempra (SRE) give a sense of how the business performed in the quarter ended June 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Sempra (SRE) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates

Sempra (SRE) came out with quarterly earnings of $1.88 per share, beating the Zacks Consensus Estimate of $1.72 per share. This compares to earnings of $1.98 per share a year ago.

Sempra (SRE) Q2 Earnings Surpass Estimates

DALLAS, Aug. 3, 2023 /PRNewswire/ -- Oncor Electric Delivery Company LLC ("Oncor") today reported three months ended June 30, 2023 net income of $200 million compared to net income of $229 million in the three months ended June 30, 2022. This $29 million decrease was driven by lower revenues from decreased customer consumption attributable primarily to milder weather in the quarter, lower revenues from the transmission component of new base rates, higher costs associated with additional investments (primarily depreciation and borrowing costs) and higher operation and maintenance expense, partially offset by higher revenues from the distribution component of new base rates, higher revenues from updates to transmission billing factors, and higher revenues from customer growth.

ONCOR REPORTS SECOND QUARTER 2023 RESULTS

SAN DIEGO , Aug. 3, 2023 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) today announced second-quarter 2023 earnings of $603 million, or $1.91 per diluted share, compared to second-quarter 2022 earnings of $559 million, or $1.77 per diluted share. On an adjusted basis, the company's second-quarter 2023 earnings were $594 million, or $1.88 per diluted share, compared to $626 million, or $1.98 per diluted share, in 2022.

Sempra Reports Second-Quarter 2023 Earnings Results

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While the Federal Reserve seeks to spark gentle disinflation, it can't be too soft on accelerating consumer prices either, which is exactly why investors need to consider reliable stocks during rate hikes. Sure, some recent data points to an encouraging backdrop for slowing inflation.

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In a continued effort to advance diversity, equity, and inclusion in the communities SoCalGas serves, the SoCalGas Scholarship Program has awarded more than $3.5 million over the last 22 years to students with an interest in eligible majors such as Science, Technology, Engineering, Math, Finance, Accounting, Business Administration, Plumbing, Electrical HVAC, or Welding. LOS ANGELES, July 27, 2023 /PRNewswire/ -- Southern California Gas Company (SoCalGas) announced today that 29 students in Central and Southern California will receive over $300,000 from the SoCalGas Scholarship Program to pursue higher education at four-year universities, community colleges, and trade schools.

Over $300,000 Awarded to College and Trade School Bound Students in Pursuit of Higher Education by SoCalGas Scholarship Program

DALLAS , July 17, 2023 /PRNewswire/ -- Oncor Electric Delivery Company LLC ("Oncor") plans to release its second quarter 2023 results on August 3, prior to Sempra's (NYSE: SRE) (BMV: SRE) second quarter 2023 conference call. Oncor's earnings release will be available on Oncor's website, oncor.com.

ONCOR TO RELEASE SECOND QUARTER 2023 RESULTS AUGUST 3

SAN DIEGO , July 17, 2023 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) plans to release its second-quarter 2023 earnings by 7 a.m. ET on Thursday, August 3.

Sempra to Report Second-Quarter 2023 Earnings August 3

The analysis indicates that by 2045, considerable renewable generation resources, like wind, solar, and batteries will be needed, including up to 10 more GW of clean renewable hydrogen generation to shore up the 2021 Clean Fuels Study (CFS) electric portfolios. LOS ANGELES , July 11, 2023 /PRNewswire/ -- A new detailed analysis released today by Southern California Gas Company (SoCalGas) further reveals how clean fuels like clean hydrogen and renewable natural gas (RNG) are poised to offer a solution to keep the electric grid reliable as California scales up intermittent renewable resources and electric demand.

New SoCalGas Analysis Underscores Immediate Need for Clean Fuels Investment to Maintain California's Grid Reliability in Net-Zero Scenario

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While the post-pandemic market cycle inspired much speculation into the mix, forward-thinking investors may want to use this time to strategize the best retirement stocks in July. Fundamentally, the future arrives sooner than you expect.

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In recent years, SDG&E has more than doubled its utility-owned energy storage capacity SAN DIEGO , July 6, 2023 /PRNewswire/ -- As part of its commitment to help bolster summer grid reliability and advance California's 100% clean energy goal, San Diego Gas & Electric (SDG&E) has completed two additional utility-owned energy storage facilities totaling 171 megawatts (MW), enough to power almost 130,000 homes for four hours. B-Roll Package + Photos Available for Download Here The 131MW Westside Canal project located in Imperial Valley – home to a high concentration of solar, wind, and geothermal generation facilities – is the largest storage asset in SDG&E's utility-owned energy storage portfolio; the 40MW Fallbrook project, located in Northern San Diego County, is the second largest in its portfolio.

SDG&E ADDS TWO MORE ENERGY STORAGE FACILITIES TO STRENGTHEN SUMMER GRID RELIABILITY AND ADVANCE CLEAN ENERGY GOALS

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Preparing for a recession at this juncture seems a ridiculous concept at this juncture. As CNBC pointed out late last week, the Federal Reserve's key inflation measure showed that prices increased by just 0.3% in May, favorably below expectations.

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Company leaders launch 25th anniversary celebrations ringing NYSE opening bell SAN DIEGO , June 29, 2023 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) today begins its 25th year of business, marking a quarter century of continued performance and progress toward its mission to be North America's premier energy infrastructure company.   Over the past 25 years, we have been connecting people to safer, more reliable and cleaner energy sources.

Sempra Commemorates 25 Years of Innovation, Safety and Service to Others

SoCalGas' $4 Million Initiative Fueling Our Communities will provide food for families and seniors in need; Largest Donation to the YMCA of Metropolitan Los Angeles will provide 20,000 meals LOS ANGELES , June 27, 2023 /PRNewswire/ -- As part of SoCalGas' 2023 Fueling Our Communities initiative, the company announced a $325,000 donation to the YMCA of Metropolitan Los Angeles. This donation to the YMCA-LA's program, FEED LA, will serve approximately 20,000 low-income residents throughout Los Angeles County with "Grab and Go" meals and fresh produce.

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