Sempra -- 2Q22

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San Diego 

City will phase out / eliminate natural gas. Link here.

SRE boss says he is okay with that. We'll just move to Texas and Mexico.

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SRE

Nasdaq: Sempra beat revenue estimates by 18% -- 2Q22.

Markets Insider. Zacks.

Sempra Energy:

• Sempra Energy’s SRE second-quarter 2022 adjusted earnings per share (EPS) came in at $1.98, which beat the Zacks Consensus Estimate of $1.82 by 8.8%.
• The bottom line also increased by 21.5% from $1.63 in the prior-year quarter.
• Barring one-time items, the company generated GAAP earnings of $1.77 per share compared with $1.37 in the second quarter of 2021.
• In the quarter under review, Sempra’s total revenues of $3,547 million increased 29.4% year over year on higher contributions from the Natural Gas business (up 33.3%) and Electric businesses (up 2.9%). 
• Moreover, the top line exceeded the Zacks Consensus Estimate of $3,006.9 million by 17.9%.
• Sempra Energy Price, Consensus and EPS Surprise 
• Quarterly earnings amounted to $176 million compared with the year-ago quarter’s $186 million.
• Southern California Gas Company(SoCalGas): 
• The segment’s earnings came in at $87 million in the second quarter of 2022 compared with the $94 million reported in the prior-year quarter.
• Sempra Texas Utility: 
• Earnings in this segment came in at $186 million in the reported quarter compared with $138 million in the year-ago quarter.
• Sempra Infrastructure: 
• The segment recorded earnings of $183 million compared with $53 million in the year-ago quarter.
• Parent and Other: 
• The quarterly loss in this division increased to $73 million from the year-ago quarter’s loss of $47 million.
• Financial Update
• As of Jun 30, 2022, Sempra Energy’s cash and cash equivalents totaled $1,931 million compared with $559 million as of Dec 31, 2021.
• The long-term debt and finance leases amounted to $24,661 million as of Jun 30, 2022 compared with $21,068 million at the 2021-end.
• Cash flow from operating activities was $2,364 million during the six months ended Jun 30, 2022, up from $2,255 million in the year-ago period.2022 
• GuidanceSempra Energy tweaked its adjusted EPS guidance for 2022. 
• The company now expects to generate earnings to the high end of its earlier reported guidance range of $8.10-$8.70 per share. 
• The Zacks Consensus Estimate for full-year earnings stands at $8.55 per share.
• The company however reiterated its 2023 EPS guidance. 
• SRE continues to expect adjusted earnings in the range of $8.60-$9.20 per share for 2023. 
• The Zacks Consensus Estimate for 2023 earnings stands at $8.95 per share, higher than the midpoint of the company’s guided range.
• Zacks RankSempra Energy currently carries a Zacks Rank #2 (Buy).

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CenterPoint Energy, Inc.

Same link as above.

• CNP reported second-quarter 2022 adjusted earnings of 31 cents per share, which beat the Zacks Consensus Estimate of 28 cents per share by 10.7%.
• In the second quarter of 2022, CNP generated revenues worth $1,944 million, up 11.6% from the year-ago figure. 
• CenterPoint Energy expects to generate adjusted EPS in the range of $1.37-$1.39.