Companies /Utilities

Sempra

NYSE: SRE Utilities - Diversified
$84.74
▼ $0.54 (−0.63%) today
Markets closed · 4:51pm ET

Q2 2026 Earnings

Reported Aug 6, 2026, 10:50am ET · SEC source
$1.16
Beat +9.84%
EPS · est. $1.06 Adjusted
$3.0B
Miss −3.38%
Revenue · est. $3.1B
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−0.7%0+0.7%Aug 6Aug 7report 10:50am ETearnings+0.3%−1.0%
−0.7%0+0.7%Aug 6Aug 7earnings+0.3%−1.0%
SRE −1.0%S&P 500 +0.3%
−0.7%0+0.7%Aug 6Aug 7report 10:50am ETearnings+0.7%−1.0%
−0.7%0+0.7%Aug 6Aug 7earnings+0.7%−1.0%
SRE −1.0%NASDAQ +0.7%
0+2%Aug 5Aug 14report 10:50am ETearnings+0.7%+2.7%
0+2%Aug 5Aug 14earnings+0.7%+2.7%
SRE +2.7%S&P 500 +0.7%
0+2%Aug 5Aug 14report 10:50am ETearnings+1.5%+2.7%
0+2%Aug 5Aug 14earnings+1.5%+2.7%
SRE +2.7%NASDAQ +1.5%
−0.37%
Day of report
−0.56%
Next session
+2.53%
One week

Did SRE Beat Earnings? Q2 2026 Results

Sempra delivered a notably strong second quarter, with adjusted EPS of $1.16 beating the Wall Street consensus of $1.06 by 9.84%, marking the fourth consecutive quarter the company has topped EPS estimates. The earnings beat was powered by surging contributions across all three segments, most visibly at Sempra Texas Utilities, where earnings climbed to $346 million from $208 million a year ago, and at Sempra Infrastructure, which jumped to $230 million from $72 million. Revenue of $3.00 billion came in 3.38% below the $3.10 billion consensus and was essentially flat year over year, down just 0.1%, though that softness did little to dampen the broader earnings picture. Record power demand in Texas, fueled by population growth, data centers, and industrial activity, continues to underpin the investment case, with Oncor's service territory carrying roughly 44 GW of large-load interconnection requests. Sempra affirmed its 2026 adjusted EPS guidance range of $4.80 to $5.30 and its 2027 range of $5.10 to $5.70, while maintaining a 7% to 9% long-term EPS growth target backed by a $65 billion five-year capital plan.

Key Takeaways
  • Strong equity earnings growth from Sempra Texas Utilities driven by Oncor rate base growth
  • Sempra Infrastructure earnings increased significantly year-over-year
  • Oncor new base rates became effective June 1, 2026
  • ERCOT set new all-time peak load of 91 GW in July
  • FERC approved SDG&E electric transmission rate settlement with ~10.28% base ROE

“Across our management team, there is a consistent emphasis on execution, and our progress through the first half of the year is reflected in strong financial performance.”

Sempra CEO, on the earnings call

Forward Guidance & Outlook

Sempra updated its full-year 2026 GAAP EPS guidance range to $5.02–$5.55 (reflecting actual results through Q2), affirmed its 2026 adjusted EPS guidance range of $4.80–$5.30, and affirmed its full-year 2027 EPS guidance range of $5.10–$5.70. The company also affirmed a 7%–9% projected long-term EPS growth rate. The planned sale of a 45% equity interest in Sempra Infrastructure Partners to KKR affiliates is expected to close in Q3 2026 and is expected to be accretive. The sale of Ecogas is expected to close in August 2026. The company's record five-year capital plan of approximately $65 billion (2026–2030) has 95% allocated to Texas and California utility investments.

SRE YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$900.0M$1.8B$2.7B$3.0B$3.0BRevenue$584.0M$507.0MOperating Income$473.0M$796.0MNet Income
$0$900.0M$1.8B$2.7BRevenueOperating IncomeNet Income

SRE Revenue by Segment

Sempra California$2.5B+0.8%
Natural Gas Utility
Electric Utility
Sempra Infrastructure$512.0M−3.4%
Energy-Related Businesses

Figures from SEC filings and company reports. Not investment advice.