You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text. 
Text: 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.
Lastly, because the offer period for our IEnova exchange offer is open, we're limited in what we can say about the exchange offer and we will be unable to respond to questions about this transaction.
I'm pleased with our first quarter results, and I think it sets us up well for the balance of 2021.
You'll recall, we shifted our market focus back to North America several years ago and have been consistently investing new capital in our utility platforms in California and Texas.
This strategic focus, together with strong operational execution, are continuing to drive improvements in our financial performance.
A second part of our strategy is focused on consolidating our unregulated investments under Sempra Infrastructure and we're making great progress there as well.
Just last month, we announced our agreement to sell a 20% equity interest in that business to KKR and it's an important step for two reasons: first, bringing in a new strategic partner allows Sempra Infrastructure to strengthen its own balance sheet while also position the business to self-fund its future growth; and second, this transaction sends a clear market signal about the value and expected growth of our Infrastructure platform.
Turning now to the Company's financial results.
We're also affirming our 2021 adjusted earnings per share guidance range.
We've had several positive developments at our operating companies this past quarter.
At our California Utilities, we received a proposed decision for 2022 and 2023 attrition rates, which if approved, will provide greater support for safety and reliability initiatives, as well as improved visibility into future earnings.
In 2020, Oncor experienced its highest organic premise growth ever and we're excited to see the growth continue this year.
In the first quarter alone Oncor connected approximately 19,000 new premises, greater than the connections in the first quarter of 2020, again validating the underlying strength of economic and demographic growth in the region.
Now, shifting to our Infrastructure business.
At Sempra LNG, we have begun engineering, construction of ECA Phase 1 and continue to progress our LNG development projects.
At Cameron Phase 2, we continue to work with our Cameron partners on the technical design of the project and to advance commercial discussions.
At Port Arthur LNG, we continue to work with partners and customers to focus on options to reduce the projects' greenhouse gas profile and continue improving its competitive position in the global energy transition.
At this time, given this work and the continued impacts of the pandemic on the global energy markets, it is more likely that final investment decision at Port Arthur will move to next year.
We will keep you updated as things progress.
Moving to our Mexican business.
We continue to advance our pipeline of development projects, focused on diversifying its energy supplies and improving the country's energy security.
In March, we expanded the renewable energy platform by finalizing the acquisition of the remaining 50% equity interest in ESJ and placing the Border Solar project into operation.
Also, as Jeff mentioned earlier, we're making great progress on Sempra Infrastructure and the associated series of transactions.
Just last week, we received the necessary regulatory approvals to launch the IEnova exchange offer.
As that process moves forward, it's important to note that it does not have a minimum requirement to close.
With that, please turn to the next slide for a short update on additional details of the pending sale announcement in Sempra Infrastructure.
With the announced sale of a 20% equity interest in Sempra Infrastructure to KKR, we've gained a strategic partner to help fund future growth.
The $3.37 billion in proceeds is expected to be used to fund growth at our US utilities and to strengthen our balance sheet, and also establishes an implied enterprise value of approximately $25.2 billion.
Equally important, we're pleased to be partnering with an investment firm that has a shared vision for growth in North America.
Lastly, we expect to close the transaction in the middle of this year, subject to customary closing conditions and certain approvals from third parties and regulatory agencies.
Please turn to the next slide, where I will review the financial results.
This compares to first quarter 2020 GAAP earnings of $760 million, or $2.53 per share.
On an adjusted basis, first quarter 2021 earnings were $900 million, or $2.95 per share.
This compares to our first quarter 2020 adjusted earnings of $741 million, or $2.47 per share.
Please turn to the next slide.
The variance in the first quarter 2021 adjusted earnings compared to the same period last year was affected by the following key items: $73 million of lower losses at parent and other, primarily due to net investment gains, lower net interest expense, lower retained operating costs and lower preferred dividends; $62 million of higher equity earnings from Cameron LNG JV, primarily due to Phase 1 commencing full commercial operations in August of 2020; $35 million of higher CPUC base operating margin at SoCalGas, net of operating expenses; and $30 million of higher equity earnings at Sempra Texas Utilities, primarily due to increased revenues from rate updates to reflect invested capital and customer growth and higher consumption due to weather.
This was partially offset by $56 million of lower earnings due to the sales of our Peruvian and Chilean businesses in April and June of 2020, respectively.
Please turn to the next slide.
We're pleased to report a successful quarter, both operationally and financially, and we are affirming our full-year 2021 adjusted earnings per share guidance range.

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compname reports q1 adjusted earnings per share $2.95.
q1 adjusted earnings per share $2.95.

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