Sempra reported a “solid” second quarter Thursday, with adjusted earnings rising 3% and beating analysts’ estimates.

The San Diego-based utility company earned $461 million, or 71 cents per share, compared to $713 million, or $1.12 per share, in the same quarter last year. Revenue was steady at $3.0 billion in both quarters.

But on an adjusted basis, which subtracts a large one-time gain from foreign currency transactions in 2024, second-quarter earnings were $583 million, or 89 cents per share, compared to $567 million, or 89 cents per share, a year ago.

Wall Street analysts had expected lower adjusted earnings of 85 cents per share, according to a report by Reuters. Sempra stock was up nearly 2% at midday on Wall Street and near a 52-week high.

“We are pleased to report another solid

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