Sector: Utilities|Industry: Utilities - Diversified|Market Cap: $53.90B|Employees: 16.8K
Sempra is a California-based energy infrastructure company that invests in, develops, and operates energy infrastructure and provides electric and gas services to customers. The company's core business model involves transmission and distribution investments, with a focus on LNG, energy networks, and low-carbon solutions. Sempra holds a strong market position in North America with a significant geographic presence in the U.S. and Mexico.
Sempra's total revenues decreased from $6.56 billion to $3.64 billion year-over-year, primarily due to a significant decrease in natural gas revenues at Sempra California. This was driven by lower average natural gas prices and lower volumes.
Sempra's net income decreased from $1.17 billion to $881 million year-over-year, reflecting the impact of lower revenues, higher interest expense, and lower income tax benefits. This was partially offset by higher equity earnings.
Basic earnings per share decreased from $1.54 to $1.27 year-over-year, reflecting the decrease in net income attributable to common shareholders.