Filing Flows › Sempra (SRE) › Q2 2025
Sempra (SRE) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Sempra (SRE) reported revenue of $3.0B for the second quarter 2025 (Q2 2025), -0.4% from a year earlier and -21% from the quarter before. Operating margin was 23.0%, net earnings $473M (15.8% of revenue).
Sempra, Q2 2025: revenue $3.0B (-0.4% year over year), operating margin 23.0%, net earnings $473M, operating cash flow $784M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0B | -21% | -0.4% |
| Operating profit | $691M | -29% | -7% |
| Net earnings | $473M | -48% | -35% |
| Operating cash flow | $784M | -47% | +17% |
What changed
Revenue was $3.0B in Q2 2025, roughly flat year over year and down 21% from the previous quarter. Gas was the largest line at 59% of revenue. Electric lost $0.03B year over year (down 3%), 245% of the total change.
Operating profit was $0.69B, a 23.0% margin (down 1.6 points year over year). Total costs grew 2% against flat revenue. Net earnings were $0.47B, down 35% year over year. The effective tax rate was 24.9%.
Operating cash flow was $0.78B (up 17% year over year), 151% of net income including minority interests. Non-cash charges added back $0.65B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.40B. Capital expenditures of $2.3B exceeded it, leaving free cash flow of −$1.5B.
Questions
What was Sempra's revenue in the second quarter 2025?
Sempra (SRE) reported revenue of $3.0B for the second quarter 2025 (Q2 2025), -0.4% from a year earlier and -21% from the quarter before.
Was Sempra profitable in the second quarter 2025?
Operating profit was $691M (23.0% of revenue) and net earnings $473M.
Source: Sempra 10-Q on SEC EDGAR.