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Sempra

SRE Q2 2025 Earnings

Reported Aug 7, 2025 at 10:52 AM ET · SEC Source

Q2 25 EPS

$0.89

BEAT +5.26%

Est. $0.85

Q2 25 Revenue

$3.00B

MISS 3.12%

Est. $3.10B

Did SRE Beat Earnings? Q2 2025 Results

Sempra delivered a mixed but broadly encouraging second quarter, posting adjusted earnings per share of $0.89 against a Wall Street consensus of $0.85, a 5.26% beat, even as revenue of $3.00 billion fell just short of the $3.10 billion estimate and r… Read more Sempra delivered a mixed but broadly encouraging second quarter, posting adjusted earnings per share of $0.89 against a Wall Street consensus of $0.85, a 5.26% beat, even as revenue of $3.00 billion fell just short of the $3.10 billion estimate and rose only 1.1% year over year. The headline GAAP figure of $0.71 per diluted share, down from $1.12 a year ago, was dragged lower by a $97 million hit from foreign currency and inflation swings on Mexican monetary positions, along with $25 million in COVID-19 regulatory disallowances at Sempra California, items the company stripped out of its adjusted results. On the infrastructure front, Oncor reported a nearly 40% surge in active transmission interconnection requests, a figure that reflects the relentless demand for utility-scale power across Texas. Sempra affirmed its 2025 adjusted EPS guidance range of $4.30–$4.70 and its 2026 range of $4.80–$5.30, with planned asset sales at Sempra Infrastructure and Ecogas México expected to provide additional upside not yet reflected in those figures.

Key Takeaways

  • • Oncor active transmission point of interconnection requests increased nearly 40% year-over-year to over 1,120
  • • Oncor increased premises served by almost 20,000 in Q2 and built, rebuilt or upgraded nearly 600 circuit miles
  • • Sempra California invested over $1.2 billion of capital during Q2
  • • CAISO awarded approximately $600 million of transmission projects to SDGE
  • • Port Arthur LNG Phase 2 received non-FTA export authorization for approximately 13.5 Mtpa
  • • Oncor total deliveries grew to 42,226 million kWhs from 40,343 million kWhs year-over-year
24/7 Wall St

SRE YoY Financials

Q2 2025 vs Q2 2024, source: SEC Filings

24/7 Wall St

SRE Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q4 25

“We are pleased to report another solid quarter. We remain focused on the disciplined execution of our value creation initiatives for 2025, with a view toward continuing to rotate capital into a more utility-centric business model.”

— Jeffrey W. Martin, Q2 2025 Earnings Press Release

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