Sempra Energy Second Quarter 2020 Earnings Results August 5, 2020
Table of Contents Executive Summary Building North Americas Premier Energy Infrastructure Company Strong + Sustainable Business Model Disciplined Capital Allocation 13B of Capital Returned to Shareholders U.S. Utility…
Executive Summary Strategic repositioning of our business has improved earnings quality and visibility to future growth Completed two-year capital rotation program with total gross proceeds of 8.3B(1) Continued to execute on…
Building North Americas Premier Energy Infrastructure Company Delivering superior operational and financial results while completing a robust capital rotation program Geographic Focus 2-Year Capital Recycling Program Enterprise…
Strong + Sustainable Business Model Safety + Operations At Sempra, we have built a business model capable of successfully operating in a variety of challenging environments Safety + Sustainability T+D Operations Continuing to engage…
Strong + Sustainable Business Model Higher-Value, Lower-Risk Infrastructure In addition to focusing on the best markets in North America, we are investing in the portion of the energy value chain that we believe will provide the most…
Disciplined Capital Allocation Focused strategy supports improved earnings visibility, strengthens our balance sheet and returns value to shareholders Executing Capital Plan Progressed our record 32B 5-year capital plan centered around…
13B of Capital Returned to Shareholders M 14,000 Total Capital Returned 4.50 (1) (1) Share Buybacks Dividends Paid Total Capital 12,000 3B 74M shares 10B 13B 4.00 3.50 10,000 3.00 Dividend Per Share (DPS) 8,000 2.50…
U.S. Utility Infrastructure Continuing Strong Execution in California + Texas SDG&E CPUC approved Wildfire Mitigation Plan Successfully procured in excess of the required 1B of wildfire insurance under a balanced program to comply with…
North American Infrastructure Across our infrastructure business, we are taking a disciplined approach towards capital allocation; we have deferred 500M of capital in 2020 Operations Status Cameron LNG Phase 1 Construction complete(1)…
Second Quarter 2020 Results Strong improvement in operating earnings helps drive over 50% increase in year-to-date adjusted EPS over the same period last year(1) Three months ended Six months ended June 30, June 30, (Dollars, except…
Q2-2020 Adjusted Earnings Drivers (1) 31M (49M) 65M (4) (32M) (3) (40M) 75M (1) 485M (2) 126M (1) 309M Q2-2019 CA Utilities CPUC Base Cameron Oncor + Lower Higher FX Other Q2-2020 Regulatory Operating LNG InfraREIT…
Sempra is a Leader in Sustainability Sempra Continues to Lead the Sector with Strong Sustainability Ratings MSCI ESG rating of A compared to BBB of our peers CDP score of A- compared to C of our peers Only U.S. Utility on Dow Jones…
Summary Strategic repositioning of our business has improved earnings quality and visibility to future growth Completed two-year capital rotation program with total gross proceeds of 8.3B(1) Continued to execute on utility-centered…
Appendix
Enabling the Energy Transition Sempra is helping lead the energy transition in every market where we operate Segment Current Future Goal California Helping to decarbonize Californias energy system Currently 14% rooftop solar Continue…
Committed to our Financial Goals At our 2016 Investor Day, we laid out our 2020 EPS guidance range of 7.20 7.80; since then, we improved the quality and visibility of future earnings while remaining on-track to deliver our 7.20 7.80…
Appendix Business Unit Earnings
SDG&E Three months ended Six months ended June 30, June 30, (Unaudited, dollars in millions) 2020 2019 2020 2019 SDG&E GAAP Earnings 193 143 455 319 Q2-2020 earnings are higher than Q2-2019 primarily due to: 62M due to the…
SoCalGas Three months ended Six months ended June 30, June 30, (Unaudited, dollars in millions) 2020 2019 2020 2019 SoCalGas GAAP Earnings 146 30 449 294 Impacts Associated with Aliso Canyon Litigation - - 72 - SoCalGas Adjusted…
Sempra Texas Utilities Three months ended Six months ended June 30, June 30, (Unaudited, dollars in millions) 2020 2019 2020 2019 Sempra Texas Utilities GAAP Earnings 144 113 249 207 Q2-2020 earnings are 31M higher than Q2-2019…
Sempra LNG Three months ended Six months ended June 30, June 30, (Unaudited, dollars in millions) 2020 2019 2020 2019 Sempra LNG GAAP Earnings 61 6 136 11 Q2-2020 earnings are higher than Q2-2019 primarily due to 65M higher…
Sempra Mexico (1) Three months ended Six months ended June 30, June 30, (Unaudited, dollars in millions) 2020 2019 2020 2019 Sempra Mexico GAAP Earnings 61 73 252 130 Q2-2020 earnings are lower than Q2-2019 primarily due to:…
Discontinued Operations (Sempra South American Utilities) (1) Three months ended Six months ended June 30, June 30, (Unaudited, dollars in millions) 2020 2019 2020 2019 Discontinued Operations GAAP Earnings 1,775 70 1,847 19…
Parent & Other Three months ended Six months ended June 30, June 30, (Unaudited, dollars in millions) 2020 2019 2020 2019 Parent & Other GAAP Losses (141) (127) (389) (244) Losses from Investment in RBS Sempra Commodities LLP - -…
Appendix Non-GAAP Financial Measures
Adjusted Earnings and Adjusted EPS (Unaudited) Adjusted Earnings (Losses) and Adjusted EPS exclude items (after the effects of income taxes and, if applicable, noncontrolling interests) in 2020 and 2019 as follows: In the three months…
Adjusted Earnings and Adjusted EPS (Unaudited) Income tax Income tax Pretax expense Pretax expense amount (benefit)(1) Earnings amount (benefit)(1) Earnings (Dollars in millions, except per share amounts; shares in thousands) Three…
Adjusted Earnings (Losses) by Business Units (Unaudited) (1) Three months ended June 30, 2020 Sempra Sempra (Dollars in millions) Texas Sempra Parent & Discontinued Energy SDG&E SoCalGas Utilities Mexico Sempra LNG Other…
2020 Adjusted EPS Guidance Range (Unaudited) Sempra Energy 2020 Adjusted EPS Guidance Range of 7.20 to 7.80 excludes items (after the effects of income taxes and, if applicable, noncontrolling interests) as follows: (72)M from impacts…
2016 Adjusted EPS Guidance Range (Unaudited) Sempra Energy 2016 Adjusted EPS Guidance Range of 4.60 to 5.00 excludes items (after the effects of taxes and, if applicable, noncontrolling interests) as follows: 350M noncash gain from the…
2017 Adjusted Earnings and Adjusted EPS (Unaudited) Sempra Energy Adjusted Earnings and Adjusted EPS exclude items (after the effects of income taxes and, if applicable, noncontrolling interests) in 2017 as follows: (870)M income tax…
2017 Adjusted Earnings and Adjusted EPS (Unaudited) Income tax Non- Pretax expense controlling amount (benefit)(1) interests Earnings (Dollars in millions, except per share amounts; shares in thousands) Year ended December 31, 2017…
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