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3Q 2019 Earnings Presentation – Sempra Energy

Sempra Energy · Nov 1, 2019 · 38 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. 3Q 2019 Earnings Presentation – Sempra Energy – slide 1
    November 1, 2019
  2. 3Q 2019 Earnings Presentation – Sempra Energy – slide 2
    Executive Summary Table of Contents Strategy Update Operations Update Financial Update Key Takeaways 3
  3. 3Q 2019 Earnings Presentation – Sempra Energy – slide 3
    Executive Summary Continuing to pursue our mission to be North Americas premier energy infrastructure company Announced agreements to sell businesses in Peru and Chile Focused T+D-like portfolio in three states and one foreign…
  4. 3Q 2019 Earnings Presentation – Sempra Energy – slide 4
    Strategy Focused Portfolio in Attractive Markets Sempra is in the process of rotating capital into some of the most attractive markets in North America Announced divestitures totaling 8.3B (2) FY-2018 adjusted earnings from…
  5. 3Q 2019 Earnings Presentation – Sempra Energy – slide 5
    Strategy Announced Sale of S.A. Businesses Peru Chile China Yangtze Power International State Grid International Buyer (Hongkong) Co., Limited Development Limited SRE Equity Sale Price(1) 3.59B 2.23B Net Proceeds(2) 2.80B - 3.00B…
  6. 3Q 2019 Earnings Presentation – Sempra Energy – slide 6
    Operations SDG&E Topic Commentary General Rate Case Retroactively effective January 1, 2019 2019 test-year revenue requirement 1.99B, 5.7% over 2018 authorized Post-test year revenue requirement attrition rates 2020: 6.7%, 2021:…
  7. 3Q 2019 Earnings Presentation – Sempra Energy – slide 7
    Operations SDG&E Wildfire Mitigation SDG&E continues to build on its 10+ years of innovation and investment to help mitigate the risk of wildfires in its service territory and deliver safe + reliable energy to our customers Deployed…
  8. 3Q 2019 Earnings Presentation – Sempra Energy – slide 8
    Operations SoCalGas Topic Commentary General Rate Case Retroactively effective January 1, 2019 2019 test-year revenue requirement 2.77B, 12.8% over 2018 authorized Post-test year revenue requirement attrition rates 2020: 7.9%,…
  9. 3Q 2019 Earnings Presentation – Sempra Energy – slide 9
    Operations Sempra Texas Utilities Oncors Five-Year Capital Plan Growth continues in and around 11.9B Oncors service territory 11.2B 0.8B Across its service territory, Oncor is 9.2B experiencing 2% premise growth and 8.5B 1.5% load…
  10. 3Q 2019 Earnings Presentation – Sempra Energy – slide 10
    Operations Sempra LNG Project Status Cameron LNG Phase 1(1) Train 1 in-service; Train 2 + 3 on-schedule Train 1 Commercial operations under the tolling agreements reached in mid-August Train 2 Entered commissioning stage Train 2…
  11. 3Q 2019 Earnings Presentation – Sempra Energy – slide 11
    Operations Sempra LNG Marketing Update Over the last twelve months, Sempra has announced over 20 Mtpa of SPA, HOAs and MOUs with potential customers(1),(2) Date Description November 2018 MOU with Total S.A. for up to 9 Mtpa across…
  12. 3Q 2019 Earnings Presentation – Sempra Energy – slide 12
    Operations Sempra Mexico Mexico is among the largest economies in the world and it is expected to continue to grow Current population of 125 million people(1); expected to reach 150 million people by 2050(2) 15th largest economy in…
  13. 3Q 2019 Earnings Presentation – Sempra Energy – slide 13
    Financial Third Quarter 2019 Results Three months ended Nine months ended September 30 September 30 (Unaudited; Dollars, except EPS, and shares, in millions) 2019 2018 2019 2018 (1) GAAP Earnings 813 274 1,608 60 Retroactive Impact…
  14. 3Q 2019 Earnings Presentation – Sempra Energy – slide 14
    Financial Q3-2019 Adjusted Earnings Drivers (1) (1) 38M 425M 58M (1) 339M (34M) 60M (24M) (14M) Q3-2018 Loss of SDG&E Lower LNG CPUC Base Oncor Mexico Q3-2019 Earnings FERC, Primarily Marketing Operating Earnings,…
  15. 3Q 2019 Earnings Presentation – Sempra Energy – slide 15
    Key Takeaways Continuing to pursue our mission to be North Americas premier energy infrastructure company Announced agreements to sell businesses in Peru and Chile Focused T+D-like portfolio in three states and one foreign…
  16. 3Q 2019 Earnings Presentation – Sempra Energy – slide 16
    APPENDIX 17
  17. 3Q 2019 Earnings Presentation – Sempra Energy – slide 17
    LNG Opportunities Overview (1) Nameplate Offtake Opportunities (2) (3) Status Capacity Capacity Train 1 commercial operations under tolling agreements Cameron Phase 1 15 Mtpa 12 Mtpa Train 2 + 3 first LNG production targeted in…
  18. 3Q 2019 Earnings Presentation – Sempra Energy – slide 18
    APPENDIX Business Unit Earnings 19
  19. 3Q 2019 Earnings Presentation – Sempra Energy – slide 19
    SDG&E Three months ended Nine months ended September 30 September 30 (Unaudited, Dollars in millions) 2019 2018 2019 2018 SDG&E GAAP Earnings 263 205 582 521 Retroactive Impact of 2019 GRC FD for First Half of 2019 (1) (66) - - -…
  20. 3Q 2019 Earnings Presentation – Sempra Energy – slide 20
    SoCalGas Three months ended Nine months ended September 30 September 30 (Unaudited, Dollars in millions) 2019 2018 2019 2018 SoCalGas GAAP Earnings (Losses) 143 (14) 437 244 Retroactive Impact of 2019 GRC FD for First Half of 2019…
  21. 3Q 2019 Earnings Presentation – Sempra Energy – slide 21
    Sempra Texas Utilities Three months ended Nine months ended September 30 September 30 (Unaudited, Dollars in millions) 2019 2018 2019 2018 Sempra Texas Utilities GAAP Earnings 212 154 419 283 Q3-2019 earnings are 58M higher than…
  22. 3Q 2019 Earnings Presentation – Sempra Energy – slide 22
    Sempra Mexico (1) Three months ended Nine months ended September 30 September 30 (Unaudited, Dollars in millions) 2019 2018 2019 2018 Sempra Mexico GAAP Earnings 84 44 214 161 Q3-2019 earnings are higher than Q3-2018…
  23. 3Q 2019 Earnings Presentation – Sempra Energy – slide 23
    Sempra Renewables Three months ended Nine months ended September 30 September 30 (Unaudited, Dollars in millions) 2019 2018 2019 2018 Sempra Renewables GAAP Earnings (Losses) - 34 59 (54) Gain on Sale of U.S. Wind Assets - - (45) -…
  24. 3Q 2019 Earnings Presentation – Sempra Energy – slide 24
    Sempra LNG Three months ended Nine months ended September 30 September 30 (Unaudited, Dollars in millions) 2019 2018 2019 2018 Sempra LNG GAAP Earnings (Losses) 2 16 13 (764) Impairment of Non-utility U.S. Natural Gas Storage…
  25. 3Q 2019 Earnings Presentation – Sempra Energy – slide 25
    Parent & Other Three months ended Nine months ended September 30 September 30 (Unaudited, Dollars in millions) 2019 2018 (1) 2019 2018 (1) Parent & Other GAAP Losses (139) (211) (383) (446) Reduction in Tax Valuation Allowance…
  26. 3Q 2019 Earnings Presentation – Sempra Energy – slide 26
    Discontinued Operations (Sempra South (1) American Utilities) Three months ended Nine months ended September 30 September 30 (Unaudited, Dollars in millions) 2019 2018 2019 2018 Discontinued Operations GAAP Earnings 248 46 267…
  27. 3Q 2019 Earnings Presentation – Sempra Energy – slide 27
    APPENDIX Non-GAAP Financial Measures 28
  28. 3Q 2019 Earnings Presentation – Sempra Energy – slide 28
    Adjusted Earnings and Adjusted EPS (Unaudited) (1 of 2) Sempra Energy Adjusted Earnings and Adjusted Diluted Earnings Per Common Share (Adjusted EPS) exclude items (after the effects of income taxes and, if applicable, noncontrolling…
  29. 3Q 2019 Earnings Presentation – Sempra Energy – slide 29
    Adjusted Earnings and Adjusted EPS (Unaudited) (2 of 2) Income tax Income tax Non- Pretax expense Pretax expense controlling amount (benefit) (1) Earnings amount (benefit) (1) interests Earnings (Dollars in millions, except per share…
  30. 3Q 2019 Earnings Presentation – Sempra Energy – slide 30
    Business Unit Adjusted Earnings (Unaudited) (1 of 6) SDG&E Adjusted Earnings in the three months ended September 30, 2019 exclude: 66 million incremental revenue increases for the first six months of 2019 from the retroactive…
  31. 3Q 2019 Earnings Presentation – Sempra Energy – slide 31
    Business Unit Adjusted Earnings (Unaudited) (2 of 6) SoCalGas Adjusted Earnings excludes items in 2019 and 2018 as follows: In the three months ended September 30, 2019: 130 million incremental revenue increases for the first six…
  32. 3Q 2019 Earnings Presentation – Sempra Energy – slide 32
    Business Unit Adjusted Earnings (Unaudited) (3 of 6) Sempra Renewables Adjusted Earnings excludes items in 2019 and 2018 as follows: In the nine months ended September 30, 2019: 45 million gain on the sale of certain Sempra Renewables…
  33. 3Q 2019 Earnings Presentation – Sempra Energy – slide 33
    Business Unit Adjusted Earnings (Unaudited) (4 of 6) Sempra LNG Adjusted Earnings excludes items in 2018 as follows: In the nine months ended September 30, 2018: (755) million impairment of certain non-utility natural gas storage…
  34. 3Q 2019 Earnings Presentation – Sempra Energy – slide 34
    Business Unit Adjusted Earnings (Unaudited) (5 of 6) Parent & Other Adjusted Losses excludes items in 2019 and 2018 as follows: In the three months ended September 30, 2018: (65) million impairment of RBS Sempra Commodities equity…
  35. 3Q 2019 Earnings Presentation – Sempra Energy – slide 35
    Business Unit Adjusted Earnings (Unaudited) (6 of 6) Discontinued Operations Adjusted Earnings excludes items in 2019 and 2018 as follows: In the three months ended September 30, 2019: Associated with holding the South American…
  36. 3Q 2019 Earnings Presentation – Sempra Energy – slide 36
    2019 Adjusted EPS Guidance Range (Unaudited) Sempra Energy 2019 Adjusted EPS Guidance Range of 6.00 to 6.50 excludes items as follows: 45 million gain on the sale of certain Sempra Renewables assets Associated with holding the South…
  37. 3Q 2019 Earnings Presentation – Sempra Energy – slide 37
    2020 Adjusted EPS Guidance Range (Unaudited) Sempra Energy 2020 Adjusted EPS Guidance Range of 6.70 to 7.50 excludes approximately 1.8 billion to 2.0 billion estimated after-tax gain on the sale of our South American businesses, net of…
  38. 3Q 2019 Earnings Presentation – Sempra Energy – slide 38
    2018 Business Unit Adjusted Earnings (Unaudited) Sempra Renewables Adjusted Earnings excludes items in the year ended December 31, 2018 as follows: 367 million gain on the sale of certain Sempra Renewables assets (145) million…

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