Company: SREA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001032208-25-000027
Chunk: 0

Company: SEMPRA
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 0
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ITEM 1. FINANCIAL STATEMENTS

SEMPRACONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Dollars in millions, except per share amounts; shares in thousands) Three months ended March 31, 20252024 (unaudited)REVENUES Utilities:Natural gas$2,362 $2,109 Electric1,059 1,056 Energy-related businesses381 475 Total revenues3,802 3,640 EXPENSES AND OTHER INCOME Utilities: Cost of natural gas(493)(554)Cost of electric fuel and purchased power(52)(89)Energy-related businesses cost of sales(119)(109)Operation and maintenance(1,343)(1,212)Depreciation and amortization(640)(594)Franchise fees and other taxes(196)(184)Other income, net91 99 Interest income34 13 Interest expense(433)(305)Income before income taxes and equity earnings651 705 Income tax expense(57)(172)Equity earnings325 348 Net income919 881 Earnings attributable to noncontrolling interests(2)(69)Preferred dividends(11)(11)Earnings attributable to common shares$906 $801 Basic EPS:Earnings$1.39 $1.27 Weighted-average common shares outstanding651,992 632,821 Diluted EPS:Earnings$1.39 $1.26 Weighted-average common shares outstanding653,018 635,354 

See Notes to Condensed Consolidated Financial Statements.

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Table of Contents

SEMPRACONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)(Dollars in millions) Sempra shareholders’ equity   PretaxamountIncome tax(expense) benefit Net-of-taxamountNoncontrollinginterests (after tax)Total (unaudited) Three months ended March 31, 2025 and 20242025:     Net income$974 $(57)$917 $2 $919 Other comprehensive income (loss):     Financial instruments(36)4 (32)(5)(37)Pension and other postretirement benefits3 — 3 — 3 Total other comprehensive loss(33)4 (29)(5)(34)Comprehensive income (loss)$941 $(53)$888 $(3)$885