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 Energy (NYSE: SRE) is set to release its third-quarter 2020 earnings on November 5, 2020, at 7 a.m. ET. Following this, a conference call will be held at 12 p.m. ET for investors, analysts, and the public to discuss the results. Interested parties can access the live webcast on the company's website. Additionally, a slide presentation detailing the earnings will also be posted on the same day at 7 a.m. ET. Sempra Energy is recognized for its significant assets and commitment to sustainability, with a customer base exceeding 35 million.
On October 15, 2020, Southern California Gas Co. (SoCalGas) participated in the 13th annual Great California ShakeOut, highlighting emergency preparedness amid natural disaster risks in California. SoCalGas emphasized safety tips for customers, urging caution around natural gas usage post-earthquake. With over 10.9 million Californians participating last year, the event serves to raise awareness of earthquake readiness. SoCalGas also aims to replace 20% of its traditional gas supply with renewable sources by 2030, reinforcing its commitment to clean energy delivery.
Sempra Energy (NYSE: SRE) announced a $100,000 pledge to aid recovery efforts in Southwest Louisiana and Southeast Texas following Hurricane Delta. This contribution builds on a prior commitment of $500,000 after Hurricane Laura. The funds aim to support families and small businesses impacted by the storms and ongoing economic challenges due to the COVID-19 pandemic. Over the last three years, Sempra Energy, alongside its foundation, has dedicated more than $3.5 million to nonprofits in Texas and Louisiana, demonstrating its commitment to community resilience.
On October 8, 2020, Southern California Gas Co. (SoCalGas) and Longo Toyota of El Monte donated 1,008 meals to Meals on Wheels to honor National Hydrogen & Fuel Cell Day. This event emphasizes the significance of hydrogen-powered vehicles, particularly the Toyota Mirai, which operates on hydrogen and emits only water. SoCalGas identifies hydrogen as vital for California's clean energy future, aligning with Governor Newsom's zero-emissions vehicle mandate by 2035. The initiative reinforces SoCalGas's commitment to sustainable energy and innovation in hydrogen technology.
On October 7, 2020, Southern California Gas Co. (SoCalGas) marked Energy Efficiency Day by highlighting its energy-saving programs aimed at reducing greenhouse gas emissions. In the past five years, these initiatives saved over 208 million therms of energy—equivalent to the natural gas consumption of 127,000 households annually—resulting in more than $229 million in savings for customers. SoCalGas also announced a 50% increase in rebates for energy-efficient appliances, valid until year-end, and offers the Energy Savings Assistance program to help improve energy efficiency in homes.
On October 1, 2020, Southern California Gas Co. (SoCalGas) announced a $25,000 sponsorship of The Midnight Mission's Banquet of Hope event, intended to support individuals experiencing homelessness. This funding will provide over 26,315 meals, addressing critical needs in Los Angeles. SoCalGas has committed significant resources to community support, including over $2.74 million for COVID-19 recovery efforts. With a long history of volunteering and monetary contributions, SoCalGas aims to play a vital role in combating homelessness in Southern California.
Sempra Energy's Mexican subsidiary, IEnova, is set to release its third-quarter 2020 earnings on October 21 at 6 p.m. ET. This will be followed by a conference call on October 22 at 11 a.m. ET. Investors can access the briefing materials on IEnova's website. As of year-end 2019, IEnova employed 1,300 individuals and held approximately $9.6 billion in total assets, standing as one of Mexico's largest private energy firms, while Sempra Energy's total assets exceeded $60 billion.
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