Executive Summary Table of Contents California Update Texas Update Infrastructure Update Financial Results Key Drivers Key Takeaways 3
Executive Summary Continuing to pursue our path to premier in North America Completed the sale of our U.S. wind, U.S. solar and certain non-utility U.S. natural gas storage assets resulting in 2.5B of proceeds(1) Continuing…
CA Utilities Update Constructive Proposals from Governors Strike Force Topic Sempra Perspective Timing Wildfire Proposals Mitigating the threat of Remain pleased with the Governors leadership and Summer wildfires in the state decisive…
CA Utilities Update Cost of Capital + GRC Topic Sempra Perspective Timing CPUC Cost of Capital(1) SDG&E Proposal: Exposure to wildfire risk justifies higher ROEs Ongoing ROE Equity Ratio 14.3% 56% Higher equity ratio reflects…
Texas Utility Update (1) InfraREIT and Sharyland proposed transaction nears completion Parties have reached a settlement with intervenors regarding the proposed transaction Next step is to bring the transaction in front of the…
Infrastructure Update Project Status Cameron LNG Phase 1(1) Train 1 advancing; earnings expected mid-2019 Train 1 Introduce feed gas Train 1 Produce first LNG Expected Q2-19 Train 1 Stabilize production and complete performance…
First Quarter 2019 Results Three months ended March 31 (Unaudited; Dollars, except EPS, and shares, in millions) 2019 2018 GAAP Earnings 441 347 Tax Impacts From Expected Sale of South American Businesses (1) 93 - Impact From the…
Key Takeaways Continuing to pursue our path to premier in North America Building positive momentum in California Advancing the InfraREIT and Sharyland transaction(1) Optimizing capital allocation with the sale of South American…
APPENDIX 12
2019 Goals Support Our Strategic Mission Actions Continue to effectively manage and improve Materially improve the franchise value of our 1 public and employee safety as a cultural 6 LNG business through progressing our five…
Asset Divestitures Timeline Jun. Dec. Feb. Apr. 2018 Sept. 2018 Jan. 2019 Feb. 2019 YE 2018 2019 2019 2019 Announced at Announced Completed Announced, as Completed Advanced Completed sale Targeted Sempras 2018 agreement to sale…
APPENDIX Business Unit Earnings 15
SDG&E Three months ended March 31 (Unaudited, Dollars in millions) 2019 2018 SDG&E GAAP Earnings 176 170 Q1-2019 earnings are higher than Q1-2018 primarily due to: 31M income tax benefit from the release of a regulatory…
SoCalGas Three months ended March 31 (Unaudited, Dollars in millions) 2019 2018 SoCalGas GAAP Earnings 264 225 Q1-2019 earnings are higher than Q1-2018 primarily due to: 35M income tax benefit from the release of a regulatory…
Sempra Texas Utility Three months ended March 31 (Unaudited, Dollars in millions) 2019 2018 Sempra Texas Utility GAAP Earnings 94 15 The increase in earnings of 79M for the three months ended March 31, 2019 represents higher…
Sempra Mexico (1) Three months ended March 31 (Unaudited, Dollars in millions) 2019 2018 Sempra Mexico GAAP Earnings 57 20 Q1-2019 earnings are higher than Q1-2018 primarily due to: 21M lower expenses from foreign currency…
Sempra Renewables Three months ended March 31 (Unaudited, Dollars in millions) 2019 2018 Sempra Renewables GAAP Earnings 13 21 Q1-2019 earnings are lower than Q1-2018 primarily due to 7M lower earnings from assets sold in…
Sempra LNG Three months ended March 31 (Unaudited, Dollars in millions) 2019 2018 Sempra LNG GAAP Earnings (Losses) 5 (16) Impact from the Tax Cuts and Jobs Act of 2017 - 9 Sempra LNG Adjusted Earnings (Losses)(1) 5 (7)…
Parent & Other Three months ended March 31 (Unaudited, Dollars in millions) 2019 2018(1) Parent & Other GAAP Losses (117) (109) Reduction in Tax Valuation Allowance Against Certain NOL Carryfowards (10) - Parent & Other Adjusted…
Discontinued Operations (Sempra South (1) American Utilities) Three months ended March 31 (Unaudited, Dollars in millions) 2019 2018 Discontinued Operations GAAP (Losses) Earnings (51) 21 Change in Indefinite Reinvestment…
APPENDIX Non-GAAP Financial Measures 24
Adjusted Earnings and Adjusted Earnings Per Share (Unaudited) (1 of 2) Sempra Energy Adjusted Earnings and Adjusted Earnings Per Common Share (Adjusted EPS) exclude items in 2019 and 2018 as follows: In the three months ended March…
Adjusted Earnings and Adjusted Earnings Per Share (Unaudited) (2 of 2) Income tax expense Income tax (benefit) Earnings expense Earnings (Dollars in millions, except per share amounts; shares in thousands) Three months ended March…
Business Unit Adjusted Earnings (Unaudited) (1 of 2) Discontinued Operations Adjusted Earnings excludes items in 2019 and 2018 as follows: In the three months ended March 31, 2019: Associated with holding the South American businesses…
Business Unit Adjusted Earnings (Unaudited) (2 of 2) Sempra LNG Adjusted Earnings excludes an item in 2018 as follows: In the three months ended March 31, 2018: (9) million income tax expense to adjust the TCJA provisional amounts…
Parent & Other Adjusted Losses (Unaudited) Sempra Parent & Other Adjusted Losses excludes an item in 2019 as follows: In the three months ended March 31, 2019: Associated with holding the South American businesses for sale: 10…
2019 Adjusted Earnings Per Common Share Guidance Range (Unaudited) Sempra Energy 2019 Adjusted EPS Guidance Range of 5.70 to 6.30 excludes: 103 million income tax expense recorded in the first quarter of 2019 from outside basis…
Loading...
