Sempra Energy headquarters in downtown San Diego. REUTERS/Mike Blake

San Diego-based Sempra Energy reported second quarter earnings on Thursday that beat analysts expectations by about 3%.

The company, parent of San Diego Gas & Electric, announced adjusted second quarter earnings of $504 million, or $1.63 per diluted share, compared to $501 million, or $1.71 per diluted share, in the same period in 2020.

That compares with analysts’ earnings per share consensus estimate of $1.59 for the second quarter of 2021.

In addition, Sempra affirmed its full-year 2021 adjusted earnings per share guidance range of $7.75 to $8.35 and its full-year 2022 earnings per share guidance range of $8.10 to $8.70.

“Our simplified business model and narrowed strategic focus to growing markets
continue to provide strong support for our financial and operational results,” said Trevor
Mihalik, executive vice president and chief financial officer of Sempra. “We are pleased with
our solid year-to-date financial results.”

Shares in Sempra were up about 0.7% in late morning trade.

In Texas, Sempra’s Oncor Electric Delivery Co. announced its projected five-year capital plan for 2022-2026 of $14 billion, a $1.8 billion increase compared to the 2021-2025 capital plan.

The company said the increase was driven by strong growth in the number of customers, among other things. So far this year, Oncor said it has connected approximately 43,000 new premises, which was more than the total connections seen at this same time last year.

The Sempra family of companies have more than 19,000 employees and deliver energy to over 36 million consumers.

Reuters contributed to this article.

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Chris Jennewein

Chris Jennewein is Editor & Publisher of Times of San Diego.