Sempra Energy (NYSE:SRE) Q3 2019 Earnings Conference Call - Final Transcript

Nov 01, 2019 • 12:00 pm ET


Sempra Energy (NYSE:SRE) Q3 2019 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the Third Quarter Earnings Call. Please note that, today's conference is being recorded.

At this time, I'd like to turn things over to Faisel Khan. Please go ahead, Sir.

Faisel H. Khan

Good morning, and welcome to Sempra Energy's Third Quarter 2019 Earnings Call. A live webcast of this teleconference and slide presentation is available on our website under the Investors section. Here in San Diego are several members of our management team, including Joe Householder, President and Chief Operating Officer; Trevor Mihalik, Executive Vice President and Chief Financial Officer; George Bilicic, group President; and Peter Wall, Vice President, Controller and Chief Accounting Officer.

Before starting, I'd like to remind everyone that we'll be discussing forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those discussed today. The factors that could cause our actual results to differ materially are discussed in the company's most recent 10-K and 10-Q filed with the SEC. It's important to note that all of the earnings per share amounts in our presentation are shown on a diluted basis and that we'll be discussing certain non-GAAP financial measures. Please refer to the presentation slides that accompany this call for a reconciliation to GAAP measures.

I also like to mention that the forward-looking statements contained in this presentation speak only as of today, November 1, 2019, and the company does not assume any obligation to update or revise any of these forward-looking statements in the future.

With that, please turn to Slide 4, and let me hand the call over to Joe.

Joseph A. Householder

Thanks, Faisel, and thanks all of you for joining us today. Normally, Jeff would lead this call, but he and Dennis are currently traveling overseas for our LNG business, meeting with current and future partners and customers, so I'll be filling in for him today. I'll start off by saying that this quarter's strong operational and financial results reflect our company's focus on execution and demonstrate progress towards our mission to be North America's premier energy infrastructure company. I'll provide a more detailed business update later in the presentation, but our recent accomplishments include placing Cameron LNG Train 1 and the project's shared facilities into service, while also advancing commissioning and construction of the two remaining trains, reaching a constructive resolution with the CFE in relation to our two pipelines in Mexico and placing the marine pipeline into service.

Receiving a constructive General Rate Case final decision at SDG&E any and SoCalGas with a focus on safety and reliability. Progressing the sale of our South American businesses by announcing sales agreements for both Peru and Chile. Increasing the CapEx plan at the Texas Utilities to keep up with the continued growth Oncor is seeing in and around that service territory. And finally, continuing to progress our LNG development projects as highlighted by the recent MOU announcement with Mitsui.

In sum, it's been a remarkable year for our company. All of