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Southern California Gas Company has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing operating revenues of $1,054 million, compared to $1,313 million in the same quarter the previous year. The decrease is attributed to lower natural gas costs and reduced demand.
Total operating expenses for the quarter were $1,054 million, compared to $1,232 million the previous year, with the cost of natural gas decreasing to $82 million from $224 million.
The company reported a net loss of $14 million for the quarter, compared to a net income of $16 million in the previous year.
Interest expense for the quarter was $82 million, up from $70 million in the previous year.
Cash provided by operating activities was $1,370 million, while cash used in investing activities was $1,491 million, primarily for property, plant, and equipment expenditures.
Cash provided by financing activities was $121 million, with a significant portion from the issuance of debt.
The filing details the company's regulatory assets and liabilities, including adjustments for deferred income taxes and pension obligations.
Southern California Gas Company is wholly owned by Pacific Enterprises, which is a subsidiary of Sempra.
The company continues to focus on managing its costs and maintaining its infrastructure to ensure reliable service to its customers.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Southern California Gas Co 6% PFS PERPETUAL USD 25 quarterly 10-Q report dated November 6, 2024. To report an error, please email earnings@qz.com.