Welcome to our dedicated page for Sempra news (Ticker: SRE), a resource for investors and traders seeking the latest updates and insights on Sempra stock.
Sempra (NYSE: SRE), headquartered in San Diego, is a prominent Fortune 500 energy services holding company. It boasts a substantial revenue of over $11 billion in 2014 and a workforce of 17,000 employees serving more than 32 million consumers globally. Sempra operates through its diverse subsidiaries, including San Diego Gas & Electric Co. and Southern California Gas Co., providing natural gas and electricity to over 20 million people in California. It also holds a significant 80% stake in Oncor, servicing 10 million customers in Texas.
Sempra's infrastructure initiatives extend across North America, where it owns and operates liquefied natural gas (LNG) facilities and energy assets in Mexico. Recent financial performance highlights include 2023 GAAP earnings of $3.03 billion, a significant increase from $2.09 billion in 2022. This growth is attributed to robust business strategies and a five-year capital plan of approximately $48 billion, focusing heavily on California and Texas markets.
Three growth platforms stand out: Sempra California, focusing on energy reliability and sustainability with major projects like 200 megawatts of utility-owned battery storage; Sempra Texas, witnessing substantial investment in infrastructure to support economic growth; and Sempra Infrastructure, emphasizing LNG production with projects like Cameron LNG Phase 1 and Energía Costa Azul LNG Phase 1. Additionally, Sempra is exploring hydrogen and carbon capture technologies to meet global energy demands.
Notable achievements include recognition for sustainability and innovation, evidenced by awards like Fast Company's
Sempra (NYSE: SRE) has achieved a perfect score of 100% on the CPA-Zicklin Index of Corporate Political Disclosure and Accountability for the ninth consecutive year, earning recognition as a Trendsetter and 'Model Code' company. The company received a raw score of 70 out of 70, significantly outperforming the S&P 500 average of 59.9%. Sempra is one of only seven S&P 500 companies to achieve a perfect score and among the first to be designated as Model Code Companies, demonstrating exceptional standards in political spending disclosure and accountability.
SDG&E has launched an updated Wildfire and Climate Resilience Center, featuring advanced technology for wildfire mitigation and grid safety. The center integrates AI and predictive modeling with emergency response capabilities, conducting over 10 million virtual wildfire simulations daily and utilizing 3.8 million drone images for AI-based inspection models. The facility includes sophisticated weather forecasting networks and serves as SDG&E's Emergency Operations Center during extreme weather events. The center also features a Resilience Zone with climate science labs and interactive exhibits for education and research partnerships with leading academic institutions.
Oncor Electric Delivery Company plans to release its third quarter 2024 results on November 6, prior to Sempra's (NYSE: SRE) (BMV: SRE) third quarter 2024 results conference call. Sempra executives will host a conference call at 12 p.m. ET on November 6 to discuss Oncor's operational and financial results. The public can access a live webcast of the call by registering on Sempra's website.
Oncor's earnings release will be available on oncor.com, and its Quarterly Report on Form 10-Q for the period ended September 30, 2024, will be filed with the SEC after Sempra's conference call. Oncor is a regulated electricity transmission and distribution business operating the largest system in Texas, serving over 4 million customers and managing more than 143,000 circuit miles of lines.
Sempra (NYSE: SRE) (BMV: SRE) has announced its plans to release third-quarter 2024 earnings on Wednesday, November 6 at 8 a.m. ET. Following the release, the company will host a conference call at 12 p.m. ET on the same day. The call will feature Jeffrey W. Martin, chairman and CEO, Karen Sedgwick, executive vice president and CFO, and other senior leaders.
Investors, media, analysts, and the public can access a live webcast of the conference call by registering on the Investors section of Sempra's website. An accompanying slide presentation detailing the earnings results will be available on the Investors site by 8 a.m. ET on November 6. For those unable to attend the live webcast, a replay will be made available shortly after the call's conclusion.
Sempra Infrastructure CEO Justin Bird was named Energy Leader of the Year at the Gulf Energy Information Excellence Awards in Houston. Bird expressed gratitude for the recognition, attributing it to his team's dedication to building North America's leading energy infrastructure company. The event saw nearly 500 nominations, with over 180 finalists.
Additionally, Sempra Infrastructure received the DE&I in Energy Award for its Growing Responsibilities and Opportunities for Women (GROW) initiative. Launched in 2020, GROW has over 365 members and focuses on building women's leadership capacity. Tania Ortiz-Mena, president of Sempra Infrastructure and GROW's executive sponsor, emphasized the importance of providing development opportunities to all employees.
The Gulf Energy Information Excellence Awards recognized innovation and technological advancements across 29 categories in the oil, gas, and energy industries.
The Latino Restaurant Association (LRA) has awarded 23 grants of $3,500 each to independently owned restaurants in the Central Valley, funded by a $100,000 grant from SoCalGas. This initiative, celebrating Hispanic Heritage Month, supports restaurants in South Fresno, Kings, and Tulare counties. Since 2020, SoCalGas has contributed over $350,000 to the LRA's efforts in promoting Latino restaurateurs and small business owners.
The grants aim to help restaurants invest in equipment, dining gear, technology upgrades, employee benefits, or other essential needs. To qualify, restaurants had to meet specific criteria, including owning up to three locations, generating less than $1 million in annual revenue per location, and being in business for more than three years. This initiative is part of SoCalGas' ASPIRE 2045 Sustainability Strategy, which plans to invest $50 million over five years into the communities it serves.
SoCalGas CEO Scott Drury received the Shift Diverse Business Solutions (Shift DBS) Transformative Leader Award at their annual Investor-owned Utility Supplier Summit. The award recognizes Drury's exceptional leadership in sustainability, safety, and supplier diversity. In 2023, SoCalGas exceeded the CPUC's diverse spending goal for the 31st consecutive year, purchasing 44% of all goods and services from diverse businesses.
Under Drury's leadership, SoCalGas' ASPIRE 2045 sustainability strategy aims to achieve 45% spending with diverse business enterprises by 2025 and net zero greenhouse gas emissions in operations and energy delivery by 2045. The company's Supplier Diversity Program was recognized by the DOE's Office of Energy Justice and Equity, leading to SoCalGas hosting the Minority Business Enterprise (MBE) Connect Summit in April 2024.
SoCalGas has donated $75,000 to Brotherhood Crusade for the development of the Danny J. Bakewell, Sr. Community Garden in South Los Angeles. The garden, set to open in Spring 2025, aims to serve 200 families in its first year, addressing food insecurity and providing access to fresh produce. It will expand Brotherhood Crusade's Teaching Gardens program, offering education on urban agriculture, nutrition, and environmental stewardship.
The garden honors Danny J. Bakewell, Sr., who led Brotherhood Crusade for 35 years and is a prominent community leader. The project aligns with SoCalGas' ASPIRE 2045 sustainability goals, which include a $50 million investment to drive positive change in diverse and underserved communities over five years. This initiative addresses the issue of food deserts in Los Angeles, where 1.4 million Angelenos lack access to sufficient and healthy food.
CIM Group has secured a significant lease agreement with Southern California Gas Company (SoCalGas) for approximately 198,553 square feet at City National 2CAL in Downtown Los Angeles. This marks the largest new office lease in downtown LA for 2024. SoCalGas, the largest gas distribution utility in the US, will relocate its headquarters to the 52-story office building at 350 S. Grand Ave.
The lease follows CIM Group's recent 119,217 square-foot lease to Shepard Mullin in December 2023. CIM Group has implemented various improvements to the property since acquiring it in 2014, including modernizing entrances and renovating The Yard, a 1.5-acre central court. The building has also received several sustainability certifications, including LEED Platinum recertification in 2023.
SoCalGas announced that Boyle Heights Solis S.T.E.M. Magnet High School's all-girls team, Las STEMateras, will compete in the Hydrogen Grand Prix World Finals in Anaheim, California. The team, sponsored by SoCalGas, built a hydrogen fuel cell remote-control race car for a six-hour race against teams from 14 countries. This competition provides students with hands-on experience in clean energy projects.
The event highlights the importance of providing opportunities for women in renewable energy, as they currently make up only 32% of the workforce. SoCalGas' support aligns with their ASPIRE 2045 Sustainability Strategy, which includes a $50 million investment over five years to advance diversity and work towards a carbon-neutral future.
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