Sempra - SRE STOCK NEWS

Sempra Energy (NYSE: SRE) announced that its subsidiary, ECA Liquefaction, has reached a final investment decision (FID) for the ECA LNG Phase 1 project in Baja California, Mexico. This is the first LNG export project in the world to reach FID in 2020, with estimated capital expenditures of $2 billion. The project aims to connect natural gas supplies from Texas to international markets and is expected to create over 10,000 jobs while generating economic benefits for Mexico. First LNG production is anticipated in late 2024, with a capacity of 3.25 million tonnes per annum.

Sempra Energy (NYSE: SRE) announced a $20,000 donation to Operation Homefront for Veterans Day, supporting military families affected by COVID-19. This grant contributes to the "11 Days of Impact" campaign, aiming to raise $111,000 to provide financial assistance for critical needs like housing and groceries. Over the past five years, Sempra has donated more than $1.4 million to military causes and employs over 1,000 veterans. The company received recognition as a "Military Friendly" organization, highlighting its commitment to veteran support.

Southern California Gas Co. (SoCalGas) has partnered with United Way of Greater Los Angeles for the first virtual HomeWalk event, scheduled for November 14, 2020. This initiative aims to combat homelessness exacerbated by the COVID-19 pandemic. Participants can engage in a 5K run, walk, or ride in their neighborhoods, sharing their experiences on social media. Over the years, SoCalGas has raised over $2 million for this cause, with a strong participant turnout in previous years. The event highlights the urgent need for support to address rising homelessness in Los Angeles County.

Sempra Energy (NYSE: SRE) is donating $2 million to the Salk Institute for a five-year project focused on plant-based carbon capture and sequestration research. This initiative, part of the Harnessing Plants Initiative, aims to develop drought-tolerant sorghum that sequesters carbon while providing essential resources like food and fuel. The project could potentially mitigate 1.5 to 6 gigatons of CO2 emissions annually if implemented globally. Sempra's investment reflects its commitment to sustainability and advancing the energy transition.

Sempra Energy (SRE) reported Q3 2020 earnings of $351 million ($1.21/share), a significant decrease from $813 million ($2.84/share) in Q3 2019. Adjusted earnings for Q3 2020 were $380 million ($1.31/share) versus $425 million ($1.50/share) year-over-year. For the first nine months, earnings surged to $3.35 billion ($11.43/share), up from $1.61 billion ($5.74/share) in the same period of 2019. The company is focusing on high-growth markets and infrastructure investments, reaffirming full-year 2020 EPS guidance of $12.50 to $13.10.

Southern California Gas Co. (SoCalGas) has commenced the dispensing of California-produced renewable natural gas (RNG) at its fueling stations. The utility has partnered with Calgren Dairy Fuels to source RNG derived from dairy manure, contributing to greenhouse gas reduction. This marks a significant shift as SoCalGas previously used RNG solely from out-of-state sources. By the end of 2023, over 160 RNG production facilities are expected to be operational in California, aiming to replace around 119 million gallons of diesel annually and cut greenhouse emissions by more than 3.4 million tons.

Southern California Gas Co. (SoCalGas) has partnered with The Laundry Truck LA (TLTLA) to launch a new mobile laundry trailer for unhoused individuals in Greater Los Angeles. The trailer, featuring five washers and dryers, aims to provide over 10,000 laundry loads by the end of 2020. SoCalGas has previously contributed $25,000 and a CNG truck from Landi Renzo USA to support TLTLA's efforts. Access to laundry services is essential in improving the hygiene and self-esteem of those experiencing homelessness, especially during the COVID-19 pandemic.

SoCalGas and the YMCA-LA have partnered to address equity challenges in Los Angeles County by providing free unlimited internet access at 20 YMCA branches. Funded by a $60,000 donation from SoCalGas, this initiative aims to bridge the digital divide, assisting students and families with distance learning, tele-health resources, and job opportunities. The program commenced on October 19, 2020, with four branches initially, expanding to all locations by November. This partnership reflects a commitment to improving community quality of life and ensuring equal access to essential resources.

Oncor Electric Delivery Company LLC will announce its third quarter 2020 results on November 5, ahead of Sempra Energy's conference call. Interested parties can access Oncor's earnings release on its website. The conference call, scheduled for 12 p.m. ET on the same day, will cover Oncor's operational and financial results. A replay will be available later. Additionally, Oncor will file its Quarterly Report on Form 10-Q after the call, which will also be accessible on its website.