Adjusted earnings for Q2 2025 were $583 million or $0.89 per share, flat compared to $567 million or $0.89 per share in Q2 2024.
First half 2025 results were solid, with execution on value creation initiatives supporting full-year guidance.
Parent company saw a $16 million increase mainly from timing of income tax benefits and net investment gains, offset by higher interest expense.
Sempra California saw a $5 million increase primarily from higher regulatory awards and electric transmission margin, offset by lower CPUC base operating margin and authorized cost of capital.
Sempra Infrastructure revenues increased by $26 million from contract modifications and higher power volumes.
Sempra reported Q2 2025 GAAP earnings of $461 million or $0.71 per share, down from $713 million or $1.12 per share in Q2 2024.
Sempra Texas had $6 million higher equity earnings due to invested capital growth and customer growth, partially offset by higher expenses and lower consumption due to weather.
Adjusted earnings totaled $191 million compared to $207 million in Q2 2024, with weather-normalized demand growth of 1.4%.
Evergy reported Q2 2025 adjusted earnings of $0.82 per share, exceeding internal budget and overcoming $0.09 of unfavorable weather impact.
Losses of approximately $0.08 per share were recorded related to the decision to exit Evergy Ventures, excluded from adjusted earnings.
Recovery of and return on regulated investments contributed $0.09 per share, while higher O&M and infrastructure investment expenses reduced EPS by $0.05 and $0.07 respectively.
Weather-normalized demand increased 1.4% driven by residential and commercial usage, with industrial sales showing year-over-year growth in June.
Dafinchi