Sempra - SRE STOCK NEWS

Southern California Gas Co. (Sempra Energy - SRE) has donated $25,000 to LA Conservation Corps for its Food Waste Prevention program, collecting up to 9,000 pounds of food daily from local businesses. This initiative addresses food insecurity heightened by COVID-19, distributing food to over 33,000 individuals monthly through MEND. Since its inception in 2018, the program has diverted nearly 1 million pounds of food from landfills and rescued 787,500 pounds of edible food. SoCalGas's commitment includes previous donations exceeding $7.6 million to community causes, highlighting its social responsibility efforts.

Southern California Gas Co. (SoCalGas), a leading natural gas utility, has been recognized with the ENERGY STAR Certified Homes Market Leader award for 2019 by the U.S. Environmental Protection Agency for its dedication to energy-efficient construction. Over the past five years, SoCalGas has allocated more than $8 million in incentives for residential builders of eco-friendly homes. In 2019 alone, its energy efficiency programs saved customers $65.4 million on gas bills, equivalent to removing nearly 293,000 metric tons of greenhouse gas emissions.

Southern California Gas Co. (SoCalGas) announced the launch of the 'Fueling Our Communities' program, aiming to provide 140,000 meals to 40,000 individuals impacted by the COVID-19 pandemic. Funded by a $500,000 donation, the initiative will support underserved communities in multiple counties and stimulate local businesses. The program will benefit various groups, including seniors and families, across 44 cities this summer. SoCalGas has previously donated over $2.5 million for pandemic relief efforts and joins with local charities to implement the initiative.

Sempra Energy (SRE) has completed its exit from South America, divesting its Chilean businesses for approximately $2.23 billion and a total of $5.82 billion from sales in Chile and Peru. This move aligns with their strategy to focus on North America's energy infrastructure markets. The company plans to invest $32 billion in capital from 2020 to 2024, emphasizing transmission and distribution in regions like California and Texas. Sempra has raised its full-year 2020 GAAP EPS guidance to a range of $12.38 to $13.32 amid improved earnings visibility.

Southern California Gas Co. (SoCalGas) successfully organized a contactless donation drive to support the Children's Fund of San Bernardino County. This initiative aimed to provide hygiene and infant care items to vulnerable children and families impacted by the COVID-19 pandemic. SoCalGas has committed over $2 million to various nonprofit organizations since March for recovery efforts. The Children's Fund, operating since 1986, serves over 66,000 children annually, addressing critical needs such as hygiene products and clothing.

Sempra Energy (NYSE: SRE) has completed the sale of its Chilean businesses to State Grid International Development Limited for approximately $2.23 billion. This divestiture finalizes the company's exit from South America, generating total proceeds of about $5.82 billion from the sale of both Chilean and Peruvian assets. Proceeds will enhance Sempra's balance sheet and liquidity. The sale included Chilquinta Energía S.A., the third-largest electricity distributor in Chile, and aims to focus Sempra's operations in North America.

Sempra Energy (NYSE: SRE) announced key executive appointments within its California utility infrastructure on June 23, 2020, aimed at enhancing leadership and succession planning. Kevin C. Sagara is appointed group president, while Caroline A. Winn and Scott D. Drury become CEOs of San Diego Gas & Electric Co. and Southern California Gas Co., respectively, effective August 1, 2020. These changes reflect Sempra's commitment to safety and sustainable practices in energy. The company boasts over $60 billion in assets and serves over 35 million consumers across North America.

SoCalGas, in partnership with Homeboy Industries and Alma Family Services, hosted a drive-thru meal distribution event in East Los Angeles, benefitting families affected by COVID-19. The initiative, supported by a $25,000 donation from SoCalGas, provided over 5,000 meals to around 1,000 families. Los Angeles County Supervisor Hilda L. Solis emphasized the need to combat hunger during the pandemic. This event highlights SoCalGas's commitment to community support and relief efforts that have exceeded $2 million in donations to assist vulnerable populations during the crisis.

On June 18, 2020, SoCalGas collaborated with the Latino Restaurant Association to distribute meals to 1,000 healthcare workers at Riverside Community Hospital. Grants from SoCalGas supported local Latino-owned restaurants, highlighting community efforts amid the COVID-19 pandemic. The initiative also included earlier support for 500 workers at Arrowhead Regional Medical Center. SoCalGas has donated over $2 million for various COVID-19 recovery programs, contributing to a total exceeding $12 million when combined with its sister company, Sempra Energy.