Sempra misses profit estimates on higher expenses, lower utility earnings
Nov 6 (Reuters) -U.S. energy firm Sempra SRE.N missed Wall Street estimates for third-quarter profit on Wednesday, hurt by higher interest expenses and lower earnings from its utility businesses in Texas and California.
Utilities are ramping up investments in their projects amid booming demand from data centers to power the artificial-intelligence wave, but elevated interest rates in the United States are eating into the companies' margins.
San Diego, California-based Sempra said its interest expense rose to $328 million for the third quarter, compared with $312 million a year earlier.
The company, which serves about 40 million customers, posted an adjusted profit of 89 cents per share in the quarter ended Sept. 30, compared with analysts' average estimate of $1.05 per share, according to data compiled by LSEG.
Still, to support its growth plans, Sempra launched a $3 billion at-the-market equity offering on Wednesday.
The company said its Texas unit, Oncor, anticipates a 40% to 50% increase to its previously announced $24 billion five-year capital plan.
This despite earnings from its Texas utilities fell about 14.4%, and that from its California unit declined 14.8% to $247 million. The states contribute more than half of the company's earnings.
Electric Reliability Council of Texas, the operator of the electricity grid in the state, predicts a need for 152 gigawatts (GW) of power generation by 2030, a 78% increase from 2023.
Sempra said its Energia Costa Azul liquefied natural gas export project in Mexico is expected to begin commercial operations in 2026 spring.
Reporting by Sourasis Bose in Bengaluru; Editing by Shinjini Ganguli
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
