Adjusted Earnings and Adjusted EPS Presentation
Sempra Texas Utilities
(Unaudited, dollars in millions)
Sempra Texas Utilities GAAP Earnings
Equity losses from a write-off of rate base disallowances resulting from the PUCT'S
final order in Oncor's comprehensive base rate review
Sempra Texas Utilities Adjusted Earnings¹
Three months ended
September 30,
Nine months ended
September 30,
2023
2022
2023
2022
305
$ 256
$
548 $ 604
44
$
305
256 $
592 $ 604
Q3-2023 earnings are higher than Q3-2022 earnings primarily due to higher equity earnings from Oncor Holdings driven by:
•
higher revenues attributable to:
•
higher customer consumption primarily attributable to weather,
updates to transmission billing factors,
new base rates implemented in May 2023,
interim rate updates to reflect increases in invested capital, and
customer growth, partially offset by
higher interest expense and depreciation expense attributable to invested capital, and
•
higher operating and maintenance expense.
1.
See Appendix for information regarding Adjusted Earnings, which represents a non-GAAP financial measure.
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