Executive Summary Table of Contents California Update Texas Update Infrastructure Update Financial Results Key Drivers Key Takeaways 3
Executive Summary Continuing to execute on our goal to be North Americas premier energy infrastructure company Completed the sales of our U.S. wind, U.S. solar and certain non-utility U.S. natural gas storage assets resulting in…
California Update: Regulatory Model Improves Improvement Summary The new legislation(2) restores the operating environment and financial health of all Californias electric utilities 21B and should wildfire further enablefund…
California Update: Regulatory Matters Topic Commentary 2019 General Rate Case (GRC)(1) First to incorporate RAMP(2) into GRC proceedings SDG&E Expect a Proposed Decision in the coming weeks + a Final Decision by year-end 2019…
Texas Update: Growth Continues Oncor completed its acquisition of Oncors assets are strategically advantaged: InfraREIT and Sempra completed its Potential new renewables in West Texas acquisition of a 50% interest in Sharyland Load…
Infrastructure Update: Projects Continue to Advance Project Status Cameron LNG Phase 1(1) Train 1 producing LNG; Train 2 + 3 on-schedule Train 1 Produced first LNG Train 1 Stabilized production and completed performance test Train…
Financial Results: Second Quarter 2019 Results Three months ended Six months ended June 30 June 30 (Unaudited; Dollars, except EPS, and shares, in millions) 2019 2018 2019 2018 GAAP Earnings (Losses) 354 (561) 795 (214) Gain on…
Key Drivers: Q2-2019 Adjusted Earnings Drivers (1) Unfavorable impact relative to Q2-2018 is primarily driven by fluctuations in the Mexican peso, the impact of the pending GRC outcome and loss of earnings due to Sempra Renewables…
Key Takeaways Continuing to execute on our goal to be North Americas premier energy infrastructure company Completed the sales of our U.S. wind, U.S. solar and certain non-utility U.S. natural gas storage assets resulting in 2.5B…
APPENDIX 12
Continuing Focus on 2019 Goals Continue to effectively manage and improve Materially improve the franchise value of our LNG 1 public and employee safety as a cultural imperative 6 business through progressing our five development…
LNG Opportunities Overview (1) Nameplate Offtake Opportunities (2) (3) Status Capacity Capacity Train 1 Produced first LNG Train 1 Stabilized production and completed performance test Cameron Phase 1 15 Mtpa 12 Mtpa Train 1…
APPENDIX Business Unit Earnings 15
SDG&E Three months ended Six months ended June 30 June 30 (Unaudited, Dollars in millions) 2019 2018 2019 2018 SDG&E GAAP Earnings 143 146 319 316 Q2-2019 earnings are lower than Q2-2018 primarily due to: 15M lower CPUC base…
SoCalGas Three months ended Six months ended June 30 June 30 (Unaudited, Dollars in millions) 2019 2018 2019 2018 SoCalGas GAAP Earnings 30 33 294 258 Impacts Associated with Aliso Canyon Litigation - 22 - 22 SoCalGas Adjusted…
Sempra Texas Utilities Three months ended Six months ended June 30 June 30 (Unaudited, Dollars in millions) 2019 2018 2019 2018 Sempra Texas Utilities GAAP Earnings 113 114 207 129 Q2-2019 earnings are in-line with Q2-2018…
Sempra Mexico (1) Three months ended Six months ended June 30 June 30 (Unaudited, Dollars in millions) 2019 2018 2019 2018 Sempra Mexico GAAP Earnings 73 97 130 117 Q2-2019 earnings are lower than Q2-2018 primarily due to:…
Sempra Renewables Three months ended Six months ended June 30 June 30 (Unaudited, Dollars in millions) 2019 2018 2019 2018 Sempra Renewables GAAP Earnings (Losses) 46 (109) 59 (88) Impairment of U.S. Wind Equity Method Investments -…
Sempra LNG Three months ended Six months ended June 30 June 30 (Unaudited, Dollars in millions) 2019 2018 2019 2018 Sempra LNG GAAP Earnings (Losses) 6 (764) 11 (780) Impairment of Non-utility U.S. Natural Gas Storage Assets - 755…
Parent & Other Three months ended Six months ended June 30 June 30 (Unaudited, Dollars in millions) 2019 2018(1) 2019 2018 (1) Parent & Other GAAP Losses (127) (126) (244) (235) Reduction in Tax Valuation Allowance Against Certain…
Discontinued Operations (Sempra South (1) American Utilities) Three months ended Six months ended June 30 June 30 (Unaudited, Dollars in millions) 2019 2018 2019 2018 Discontinued Operations GAAP Earnings 70 48 19 69 Change in…
APPENDIX Non-GAAP Financial Measures 24
Adjusted Earnings and Adjusted EPS (Unaudited) (1 of 2) Sempra Energy Adjusted Earnings and Adjusted EPS exclude items (after the effects of income taxes and, if applicable, noncontrolling interests) in 2019 and 2018 as follows: In…
Adjusted Earnings and Adjusted EPS (Unaudited) (2 of 2) Income tax Income tax Non- Pretax expense Pretax (benefit) controlling (Losses) amount (benefit) (1) Earnings amount expense(1) interests earnings (Dollars in millions, except per…
Business Unit Adjusted Earnings (Unaudited) (1 of 5) SoCalGas Adjusted Earnings in both the three months and six months ended June 30, 2018 exclude: (22) million impacts associated with Aliso Canyon litigation SoCalGas Adjusted…
Business Unit Adjusted Earnings (Unaudited) (2 of 5) Sempra Renewables Adjusted Earnings excludes items in 2019 and 2018 as follows: In both the three months and six months ended June 30, 2019: 45 million gain on the sale of certain…
Business Unit Adjusted Earnings (Unaudited) (3 of 5) Sempra LNG Adjusted Losses excludes items in 2018 as follows: In the three months ended June 30, 2018: (755) million impairment of certain non-utility natural gas storage assets in…
Business Unit Adjusted Earnings (Unaudited) (4 of 5) Discontinued Operations Adjusted Earnings excludes items in 2019 and 2018 as follows: In the six months ended June 30, 2019: Associated with holding the South American businesses…
Business Unit Adjusted Earnings (Unaudited) (5 of 5) Sempra Parent & Other Adjusted Losses for the six months ended June 30, 2019 excludes: Associated with holding the South American businesses for sale: 10 million income tax benefit…
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 from outside basis differences in our South American businesses…
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