Sempra said Sempra California's earnings for Q1 2025 increased $142 million (24%) compared to the same period in the prior year. The company cited higher CPUC base operating margin of $88 million and higher income tax benefits of $62 million as primary factors.

1. 01

   Sempra said Sempra California's earnings for Q1 2025 increased $142 million (24%) compared to the same period in the prior year. The company cited higher CPUC base operating margin of $88 million and higher income tax benefits of $62 million as primary factors.

2. 02

   Sempra said Sempra Texas Utilities earnings for Q1 2025 decreased $37 million (20%), citing lower equity earnings from Oncor Holdings as a primary factor. Sempra Infrastructure earnings, by contrast, increased $15 million (11%).

3. 03

   Sempra said interest expense for Q1 2025 increased $128 million (42%) compared to the same period in the prior year to $433 million, including $65 million in unrealized losses on interest rate swaps related to the PA LNG Phase 1 project. Income tax expense decreased $115 million.

4. 04

   Sempra said it expects PP&E and invested capital expenditures to total $12.5 billion in 2025. Reflecting the company's proportionate share of equity method investees, PP&E capital expenditures are expected to be $12.7 billion.

Key figures

Quarter ended March 31, 2025

Revenue

$3.7B

Net income

$917M

EPS

$1.39

Operating cash flow

$1.5B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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