Sempra (SRE) Q2 2026: Texas data-center boom drives earnings beat
As seen on the 24/7 Wall St. homepage on August 6, 2026.
Texas data-center demand is now doing the heavy lifting: Sempra Texas Utilities earnings rose to $346 million from $208 million a year ago, beating EPS expectations while revenue missed. Management affirmed 2026 adjusted EPS guidance and backed its capital plan, with the KKR stake sale in Sempra Infrastructure set to close this quarter.
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Sempra posted Q2 2026 earnings per share of $1.16, clearing the $1.06 consensus estimate by roughly 10%. The standout driver was Sempra Texas Utilities, whose earnings surged to $346 million from $208 million in the same quarter a year ago — a gain management tied directly to rising data-center demand in Texas. Revenue, however, came in at $2.997 billion, falling about 3.4% short of the $3.10 billion Wall Street had expected.
The mixed result — a solid EPS beat alongside a revenue miss — did not shake management's outlook. The company reaffirmed its 2026 adjusted EPS guidance and stood behind its capital plan. On the deal front, the previously announced sale of a KKR stake in Sempra Infrastructure remains on track to close this quarter, a transaction that could meaningfully affect the company's near-term balance sheet.
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Looking at recent history, Sempra has now beaten EPS estimates in five of the last six quarters, after missing badly in Q3 2024 when it reported $0.89 against a $1.07 estimate. The Q2 2026 beat continues a streak of outperformance that began in Q2 2025, suggesting the Texas utility buildout is becoming an increasingly reliable earnings engine.