Analyst Report: Sempra Energy

Argus

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Nov 21, 2025

Summary

Sempra Energy, based successful San Diego, is an vigor services holding company. In 2024, the institution had $13.2 cardinal successful revenues with astir 55% from earthy state utilities and 33% from electrical utilities. Its 20,000 employees service much than 40 cardinal customers. The company's main regulated utilities are San Diego Gas & Electric (3.7 cardinal state and electrical customers) and Southern California Gas (22 cardinal state customers). Oncor, a associated venture, is the largest regulated electrical inferior successful Texas (13 cardinal customers). Of 2024 adjusted earnings, astir two-thirds were from electrical transmission and distribution.

Sempra LNG is simply a state infrastructure institution and developer of liquefaction facilities successful North America, including caller operations successful Port Arthur, Texas. IEnova is simply a associated task that develops and operates vigor infrastructure successful Mexico and is expanding its usage of renewables, including renewable hydrogen, with a 2050 people of net-zero emissions. The institution has had state operations successful Mexico for 2 decades. As o