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
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
