The following is a summary of the Sempra (SRE) Q1 2024 Earnings Call Transcript:
Financial Performance:
Sempra reported Q1 2024 adjusted EPS of $1.34, affirming a full-year adjusted EPS guidance range of $4.60 to $4.90 for 2024 and $4.90 to $5.25 for 2025.
The expectations reflect approximately 7% annual growth, aligning with the company's long-term EPS growth expectations of 6% to 8%.
Business Progress:
Sempra is positioned to benefit from the shift towards electrification, reshoring, artificial intelligence, and data centers, with strong market potential to benefit from US energy demand.
With a $24.2 billion capital plan, Sempra is set to expand its distribution and transmission sectors while maintaining its components and updating its technology.
Sempra has proposed a systematic resiliency plan with robust investments aiming to improve reliability and mitigate risks.
With ongoing LNG development projects, Sempra is strategically targeting the Asian market to facilitate growth.
Sempra has established stability in Mexico, while also working on infrastructure investments such as Cimarron.
Despite supply chain and labor disruptions, strong commercial interest in Sempra's LNG projects continues.
Sempra keeps a vigilant eye on its supply chain to ensure its capital plan's successful execution, centered on growth and wildfire risk mitigation to benefit its long-term customers.
More details: Sempra Energy IR
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