Sempra Reports Second-Quarter 2022 Earnings Results.
SAN DIEGO: Sempra (NYSE: SRE) (BMV: SRE) today announced second-quarter 2022 earnings of $559 million, or $1.77 per diluted share, compared to second-quarter 2021 earnings of $424 million, or $1.37 per diluted share. On an adjusted basis, the company's second-quarter 2022 earnings were $626 million or $1.98 per diluted share, compared to $504 million, or $1.63 per diluted share, in 2021.
"At Sempra, we want to help ensure energy is increasingly abundant, cleaner and more affordable. We're executing against a plan that extends our capabilities to better serve the growing needs of customers here in North America and overseas," said Jeffrey W. Martin, chairman and chief executive officer of Sempra. "Integral to the effort are our employees, whose relentless focus on safety, innovation and operational excellence allows us to meet the opportunity of this moment."
Sempra's earnings for the first six months of 2022 were $1.171 billion, or $3.70 per diluted share, compared with earnings of $1.298 billion, or $4.24 per diluted share, in the first six months of 2021. Adjusted earnings for the first six months of 2022 were $1.550 billion, or $4.90 per diluted share, compared to $1.404 billion, or $4.58 per diluted share, in the first six months of 2021.
The reported financial results reflect certain significant items as described on an after-tax basis in the following table of GAAP (generally accepted accounting principles in the United States of America) earnings, reconciled to adjusted earnings, for the second quarter and first six months of 2022 and 2021.
Three months ended
Six months ended
June 30,
June 30,
(Dollars and shares in millions, except EPS)
2022
2021
2022
2021
(Unaudited)
GAAP Earnings
$ 559
$ 424
$ 1,171
$ 1,298
Impacts Associated with Aliso Canyon Litigation1
32
-
98
-
Impact from Foreign Currency and Inflation on our Monetary Positions in Mexico and
Associated Undesignated Derivatives
16
72
91
69
Net Unrealized Losses on Commodity Derivatives
19
58
70
87
Deferred Income Tax Expense Associated with the Change in our Indefinite Reinvestment Assertion
Related to the Sale of NCI to ADIA
-
-
120
-
Earnings from Investment in RBS Sempra Commodities LLP
-
(50)
-
(50)
Adjusted Earnings2
$ 626
$ 504
$ 1,550
$ 1,404
Diluted Weighted-Average Common Shares Outstanding
316
309
317
306
GAAP EPS
$ 1.77
$ 1.37
$ 3.70
$ 4.24
Diluted Weighted-Average Common Shares Outstanding - Adjusted
316
309
317
311
Adjusted EPS2,3
$ 1.98
$ 1.63
$ 4.90
$ 4.58
-
...
To continue reading
Request your trial