SRE Q1 2025 Earnings
Reported May 8, 2025 at 6:53 AM ET · SEC Source
Q1 25 EPS
$1.44
Q1 25 Revenue
$3.80B
vs S&P Since Q1 25
-0.1%
TRAILING MARKET
SRE +27.4% vs S&P +27.5%
Market Reaction
Did SRE Beat Earnings? Q1 2025 Results
Sempra delivered a solid first quarter for 2025, posting adjusted earnings of $1.44 per diluted share on revenue of $3.80 billion, as strength in its California utility operations more than compensated for headwinds elsewhere. The standout driver was… Read more Sempra delivered a solid first quarter for 2025, posting adjusted earnings of $1.44 per diluted share on revenue of $3.80 billion, as strength in its California utility operations more than compensated for headwinds elsewhere. The standout driver was the Sempra California segment, which saw earnings climb to $724 million from $582 million a year ago, fueled by higher natural gas utility revenues that pushed segment revenue to $3.40 billion. The gains were partially tempered by a sharp rise in interest expense, to $433 million from $305 million, and softer results at Sempra Texas Utilities, where earnings dipped to $146 million despite record winter peak demand on ERCOT's grid. Oncor, in which Sempra holds an 80.25% stake, continues executing a $36.10 billion five-year capital plan, with surging grid interconnection requests up 35% year-over-year signaling robust long-term demand. Looking ahead, Sempra affirmed its 2025 adjusted EPS guidance of $4.30–$4.70 and its 2026 range of $4.80–$5.30, while planned divestitures are expected to be both EPS-accretive and credit-enhancing.
Key Takeaways
- • Sempra California earnings increased to $724 million from $582 million year-over-year, driven by higher natural gas utility revenues
- • ERCOT set a new all-time winter peak demand record of 80.5 GW in February 2025
- • Oncor's active transmission point of interconnection requests increased 35% year-over-year to approximately 1,100
- • Oncor increased premises served by approximately 19,000 in Q1 2025
- • Oncor built, rebuilt or upgraded nearly 800 miles of transmission and distribution power lines in Q1 2025
- • Income tax expense declined significantly to $57 million from $172 million year-over-year
SRE YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
SRE Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are pleased to report a solid quarter for Sempra, which is the direct result of continued focus on delivering strong financial performance while making steady progress on our strategic initiatives. We remain committed to our disciplined growth strategy, which centers on delivering safer and more reliable energy to the nearly 40 million consumers we serve.”
— Jeffrey W. Martin, Q1 2025 Earnings Press Release
SRE Earnings Trends
SRE vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SRE EPS Trend
Earnings per share: estimate vs actual
SRE Revenue Trend
Quarterly revenue: estimate vs actual
SRE Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $1.23 | $1.28 | +4.07% | $3.75B | — |
| FY Full Year | $4.60 | $4.69 | +1.89% | $13.70B | -1.41% |
| Q3 25 BEAT | $0.91 | $1.11 | +21.74% | $3.15B | +6.95% |
| Q2 25 BEAT | $0.85 | $0.89 | +5.26% | $3.00B | -3.12% |
| Q1 25 | — | $1.44 | — | $3.80B | — |