Sempra Energy’s SRE first-quarter 2021 adjusted earnings per share (EPS) came in at $2.95, surpassing the Zacks Consensus Estimate of $2.77 by 6.5%. The bottom line also improved 19.4% from $2.47 in the prior-year quarter.Barring one-time items, the company generated GAAP earnings of $2.87 per share compared with $2.53 in first-quarter 2020. This year-over-year upside was driven by a solid top-line performance.Total RevenuesIn the quarter under review, total revenues of $3,259 million increased 7.6% year over year on higher contributions from the Utilities business (up 6%) and Energy-related businesses (up 13.7 %). The top line, moreover, exceeded the consensus mark of $3,162 million by 3.1%.Segment UpdateSan Diego Gas & Electric (SDG&E): Quarterly earnings amounted to $212 million compared with the year-ago quarter’s $262 million.Southern California Gas Company (SoCalGas): In this segment, quarterly earnings totaled $407 million in the first quarter of 2021 compared with $303 million reported in the prior-year quarter.Sempra Texas Utility: Earnings in this segment came in at $135 million in the reported quarter compared with $105 million in the year-ago quarter.Sempra Mexico: The segment recorded net earnings of $57 million compared with $191 million in the year-ago quarter.Sempra LNG: The segment reported earnings of $146 million compared with the year-ago quarter’s $75 million.Parent and Other: Quarterly loss in this division declined to $83 million from the year-ago quarter’s loss of $248 million.Sempra Energy Price, Consensus and EPS Surprise Sempra Energy price-consensus-eps-surprise-chart | Sempra Energy QuoteFinancial UpdateAs of Mar 31, 2021, Sempra Energy’s cash and cash equivalents totaled $725 million compared with $960 million as of Dec 31, 2020.Long-term debt and finance leases amounted to $22,023 million as of Mar 31, 2021, compared with $21,781 million at 2020-end.Cash flow from operating activities was $1,502 million at the end of first-quarter 2021, up from $1,318 million at the end of first-quarter 2020.In the reported quarter, the company’s capital expenditures, investments and acquisitions summed $1,296 million compared with $1,096 million in the first quarter of 2020.2021 GuidanceSempra Energy reaffirmed its adjusted EPS guidance for 2021. The company expects to generate earnings of $7.50-$8.10 per share. The Zacks Consensus Estimate for full-year earnings stands at $8.05 per share, which lies toward the higher end of the company-projected range.Zacks RankSempra Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Recent Utility ReleasesAmerican Electric Power Co., Inc. AEP reported first-quarter 2021 adjusted earnings per share of $1.15, which missed the Zacks Consensus Estimate of $1.23 by 6.5%.NextEra Energy, Inc. NEE reported first-quarter 2021 adjusted earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 60 cents by 11.7%.DTE Energy Company DTE reported first-quarter 2021 operating earnings per share (EPS) of $2.44, which surpassed the Zacks Consensus Estimate of $2.16 by 13%.Infrastructure Stock Boom to Sweep AmericaA massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.The only question is “Will you get into the right stocks early when their growth potential is greatest?”Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sempra Energy (SRE): Free Stock Analysis Report American Electric Power Company, Inc. (AEP): Free Stock Analysis Report DTE Energy Company (DTE): Free Stock Analysis Report NextEra Energy, Inc. (NEE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research