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4Q 2018 Earnings Presentation – Sempra Energy

Sempra Energy · Feb 26, 2019 · 35 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 4Q 2018 Earnings Presentation – Sempra Energy – slide 1
    February 26, 2019 1
  2. 4Q 2018 Earnings Presentation – Sempra Energy – slide 2
    Executive Summary Table of Contents Executing Strategy Mexico Update Cameron Update Financial Results Key Drivers 2019 Guidance 2019 Goals Summary 3
  3. 4Q 2018 Earnings Presentation – Sempra Energy – slide 3
    Executive Summary Reporting FY2018 adjusted earnings per share of 5.57(1) compared to FY2017 adjusted earnings per share of 5.42(1) and Q4-2018 adjusted earnings per share of 1.56(1) compared to Q4-2017 adjusted earnings per share of…
  4. 4Q 2018 Earnings Presentation – Sempra Energy – slide 4
    Executing Strategy Accomplishments Accomplishments support our strategic mission to become North Americas premier energy infrastructure company Action Status Received EEI Edison award at SDG&E for our efforts to enhance wildfire…
  5. 4Q 2018 Earnings Presentation – Sempra Energy – slide 5
    Executing Strategy South America Announced decision to sell South American businesses allows Sempra to focus capital investments on North American opportunities; expect to close by year-end 2019 Strategic Criteria Considerations…
  6. 4Q 2018 Earnings Presentation – Sempra Energy – slide 6
    Executing Strategy Continuous Cost Improvements Sempra continuously reviews its corporate cost structure for efficiencies After the announced plan to sell Sempras U.S. wind, U.S. solar and certain non-utility U.S. natural gas storage…
  7. 4Q 2018 Earnings Presentation – Sempra Energy – slide 7
    Mexico Update Mexico is the worlds 15th largest economy(1) and has significant infrastructure needs Mexico imports 50% of its natural gas demand(2) Residential electricity demand is expected to double by 2040(3) Refined product…
  8. 4Q 2018 Earnings Presentation – Sempra Energy – slide 8
    Cameron LNG Update (1) Train 1 commissioning process well underway with projected earnings in mid-2019; stated contractor schedule is consistent with Q3-18 disclosure(2) Project continues to have an excellent safety record with…
  9. 4Q 2018 Earnings Presentation – Sempra Energy – slide 9
    Fourth Quarter + Full-Year 2018 Results Three months ended Years ended December 31 December 31 (Dollars, except EPS, and shares, in millions) 2018 2017 2018 2017 (Unaudited) GAAP Earnings (Losses)(1) 864 (501) 924 256 Gain on Sale…
  10. 4Q 2018 Earnings Presentation – Sempra Energy – slide 10
    Full-Year 2018 Adjusted Earnings Drivers (1) 25M 16M 1,503M 65M (1) 371M 1,368M (11M) (21M) (2) (310M) Interest Pref. Dividends FY-2017 Other Mexico Parent Partial-Year SDG&E Mexico SoCalGas FY-2018 FX (3) Interest +…
  11. 4Q 2018 Earnings Presentation – Sempra Energy – slide 11
    2019 Adjusted Guidance Update (1) Sempra continues to high-grade its portfolio with additional T+D investments 2019 adjusted EPS guidance range(1) remains unchanged relative to the previous range given Key Events Impacting 2019…
  12. 4Q 2018 Earnings Presentation – Sempra Energy – slide 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…
  13. 4Q 2018 Earnings Presentation – Sempra Energy – slide 13
    Summary Reporting FY2018 adjusted earnings per share of 5.57(1) compared to FY2017 adjusted earnings per share of 5.42(1) and Q4-2018 adjusted earnings per share of 1.56(1) compared to Q4-2017 adjusted earnings per share of 1.54(1)…
  14. 4Q 2018 Earnings Presentation – Sempra Energy – slide 14
    APPENDIX 15
  15. 4Q 2018 Earnings Presentation – Sempra Energy – slide 15
    2019 Rules of Thumb Key Commodity Current Guidance Approximate 2019 Forecasted and Market Change in Assumption Assumption Earnings Sensitivity Forecasts Natural Gas Prices(1) 2.79 1.00 increase / decrease 18M / (18)M in Sempra…
  16. 4Q 2018 Earnings Presentation – Sempra Energy – slide 16
    APPENDIX Business Unit Earnings 17
  17. 4Q 2018 Earnings Presentation – Sempra Energy – slide 17
    SDG&E Three months ended Years ended December 31, December 31, (Dollars in millions) 2018 2017 2018 2017 (Unaudited) SDG&E GAAP Earnings 148 131 669 407 Impact from the Tax Cuts and Jobs Act of 2017 - 28 - 28 Write-Off of Wildfire…
  18. 4Q 2018 Earnings Presentation – Sempra Energy – slide 18
    SoCalGas Three months ended Years ended December 31, December 31, (Dollars in millions) 2018 2017 2018 2017 (Unaudited) SoCalGas GAAP Earnings 156 128 400 396 Impact from the Tax Cuts and Jobs Act of 2017 - 2 - 2 Impacts…
  19. 4Q 2018 Earnings Presentation – Sempra Energy – slide 19
    Sempra Texas Utility Three months ended Years ended December 31, December 31, (Dollars in millions) 2018 2017 2018 2017 (Unaudited) Sempra Texas Utility GAAP Earnings 88 - 371 - The year ended December 31, 2018 includes Sempras…
  20. 4Q 2018 Earnings Presentation – Sempra Energy – slide 20
    Sempra South American Utilities Three months ended Years ended December 31, December 31, (Dollars in millions) 2018 2017 2018 2017 (Unaudited) Sempra South American Utilities GAAP Earnings 59 52 199 186 Q4-2018 earnings are higher…
  21. 4Q 2018 Earnings Presentation – Sempra Energy – slide 21
    Sempra Mexico (1) Three months ended Years ended December 31, December 31, (Dollars in millions) 2018 2017 2018 2017 (Unaudited) Sempra Mexico GAAP Earnings 76 64 237 169 Adjustments Related to TdM Held for Sale - - - 42…
  22. 4Q 2018 Earnings Presentation – Sempra Energy – slide 22
    Sempra Renewables Three months ended Years ended December 31, December 31, (Dollars in millions) 2018 2017 2018 2017 (Unaudited) Sempra Renewables GAAP Earnings 382 203 328 252 Impairment of U.S. Wind Equity Method Investments - -…
  23. 4Q 2018 Earnings Presentation – Sempra Energy – slide 23
    Sempra LNG & Midstream Three months ended Years ended December 31, December 31, (Dollars in millions) 2018 2017 2018 2017 (Unaudited) Sempra LNG & Midstream GAAP Earnings (Losses) 147 126 (617) 150 (Adjustment)/Impairment of…
  24. 4Q 2018 Earnings Presentation – Sempra Energy – slide 24
    Parent & Other Three months ended Years ended December 31, December 31, (Dollars in millions) 2018 2017 2018 2017 (Unaudited) Parent & Other GAAP Losses (192) (1,205) (663) (1,304) Impairment of Investment in RBS Sempra Commodities…
  25. 4Q 2018 Earnings Presentation – Sempra Energy – slide 25
    APPENDIX Non-GAAP Financial Measures 26
  26. 4Q 2018 Earnings Presentation – Sempra Energy – slide 26
    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 (after the effects of income taxes and, if applicable,…
  27. 4Q 2018 Earnings Presentation – Sempra Energy – slide 27
    Adjusted Earnings and Adjusted Earnings Per Share (Unaudited) (2 of 2) Income tax Non- Income tax Non- Pretax expense controlling Pretax expense controlling (Losses) (1) (1) amount (benefit) interests Earnings amount (benefit)…
  28. 4Q 2018 Earnings Presentation – Sempra Energy – slide 28
    Business Unit Adjusted Earnings (Unaudited) (1 of 5) SDG&E Adjusted Earnings excludes items (after the effects of income taxes) in 2017 as follows: In the three months ended December 31, 2017: (28) million income tax expense from the…
  29. 4Q 2018 Earnings Presentation – Sempra Energy – slide 29
    Business Unit Adjusted Earnings (Unaudited) (2 of 5) SoCalGas Adjusted Earnings excludes items (after the effects of income taxes) in 2018 and 2017 as follows: In the three months ended December 31, 2017: (2) million income tax…
  30. 4Q 2018 Earnings Presentation – Sempra Energy – slide 30
    Business Unit Adjusted Earnings (Unaudited) (3 of 5) Sempra Mexico Adjusted Earnings excludes items (after the effects of income taxes and noncontrolling interests) in 2017 as follows : In the year ended December 31, 2017: (47)…
  31. 4Q 2018 Earnings Presentation – Sempra Energy – slide 31
    Business Unit Adjusted Earnings (Unaudited) (4 of 5) Sempra Renewables Adjusted Earnings excludes items (after the effects of income taxes) in 2018 and 2017 as follows: In the three months ended December 31, 2018: 367 million gain on…
  32. 4Q 2018 Earnings Presentation – Sempra Energy – slide 32
    Business Unit Adjusted Earnings (Unaudited) (5 of 5) Sempra LNG & Midstream Adjusted Earnings (Losses) excludes items (after the effects of income taxes and, if applicable, noncontrolling interests) in 2018 and 2017 as follows: In the…
  33. 4Q 2018 Earnings Presentation – Sempra Energy – slide 33
    Parent & Other Adjusted Losses (Unaudited) Parent & Other Adjusted Losses excludes items in 2018 and 2017 as follows: In the three months ended December 31, 2018: (60) million income tax expense in 2018 to adjust the TCJA provisional…
  34. 4Q 2018 Earnings Presentation – Sempra Energy – slide 34
    2018 Adjusted Earnings Per Common Share Guidance Range (Unaudited) (1) Sempra Energy 2018 Adjusted EPS Guidance Range of 5.30 to 5.80 excluded items (after the effects of income taxes and, if applicable, noncontrolling interests)…
  35. 4Q 2018 Earnings Presentation – Sempra Energy – slide 35
    2019 Adjusted Earnings Per Common Share Guidance Range (Unaudited) Sempra Energy 2019 Adjusted EPS Guidance Range of 5.70 to 6.30 excludes items (after the effects of income taxes and, if applicable, noncontrolling interests) as…

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