US engineering firm, Sempra has reported full year 2024 earnings of $2.82 bill or $4.42 per diluted share, compared to 2023 earnings of $3.03 bill or $4.79 per diluted share.
On an adjusted basis, the company's 2024 earnings were $2.97 bill or $4.65 per diluted share, compared to $2.92 bill or $4.61 per diluted share for the previous year.
"With the reset of our guidance in 2025, we are setting a new foundation for a decisive decade of growth," said Jeffrey Martin, Sempra Chairman and CEO. "We are also announcing a record five year capital plan of $56 bill and raising the company's long-term EPS growth rate to 7%-9%.
“Over half of planned capital expenditures are earmarked for Texas, where significant new investments are needed to expand and modernise the energy grid. This is consistent with Sempra's 2030 aspirations of producing over 50% of its earnings from the State of Texas," he said.
Sempra also reported fourth quarter 2024 GAAP earnings of $665 mill or $1.04 per diluted share, compared to 4Q23 GAAP earnings of $737 mill or $1.16 per diluted share.
On an adjusted basis, the 4Q24 earnings were $960 mill or $1.50 per diluted share, compared to $719 mill or $1.13 per diluted share in 4Q23.
