Sempra (SRE) Q3 2025 Earnings
How Did SRE Stock React to Q3 2025 Earnings?
S&P 500 over the same 30 days: +0.89%.
Did SRE Beat Earnings? Q3 2025 Results
Yes. Sempra reported Q3 2025 earnings of $1.11 a share on Nov 5, 2025, beating the $0.91 consensus estimate by 21.7%. Revenue was $3.2B against a $2.9B estimate.
Sempra delivered a decisive earnings beat in Q3 2025, with adjusted EPS of $1.11 clearing the $0.9118 consensus estimate by 21.74% and revenue of $3.15 billion topping expectations by 6.95% — a 17.7% jump from the $2.78 billion reported a year ago. The standout adjusted performance was powered by strong operational momentum across segments, with Sempra California contributing $2.61 billion in quarterly revenue and Sempra Infrastructure adding $555 million, even as a $514 million tax charge tied to the planned sale of a 45% stake in SI Partners to KKR weighed heavily on GAAP earnings, which fell to just $0.12 per diluted share. That strategic divestiture is designed to simplify Sempra's structure and bankroll an accelerating capital buildout, including Oncor's expected 30%-plus expansion of its 2026–2030 base capital plan, fueled by surging data center interconnection demand in Texas — a dynamic that recently drew a Goldman Sachs upgrade. Looking ahead, Sempra affirmed its 2025 adjusted EPS guidance of $4.30–$4.70 and its 2026 range of $4.80–$5.30, with long-term EPS growth guided to the high end or above its 7%–9% CAGR target through 2029.
- Strong adjusted earnings growth driven by higher utility rate base and infrastructure investments
- Oncor premises increased by nearly 16,000 reflecting ongoing population and business growth in North Texas
- Oncor total electric deliveries increased to 50,761 million kWh from 46,208 million kWh year-over-year
- Capital expenditures for property, plant and equipment rose to $2,561 million from $1,935 million in Q3 2024
“We are pleased with another solid quarter of financial performance. We continue to make significant progress on our near-term value creation initiatives and we are pleased with our year-to-date financial results.”
Sempra CEO, on the earnings call
What Was Sempra's Outlook in Q3 2025?
Sempra updated its full-year 2025 GAAP EPS guidance range to $3.05–$3.45, affirmed its full-year 2025 adjusted EPS guidance range of $4.30–$4.70, and affirmed its full-year 2026 EPS guidance range of $4.80–$5.30. The company is also affirming guidance to the high-end or above its projected long-term EPS compound annual growth rate of 7%–9% for 2025 through 2029. The planned sales of SI Partners (45% equity interest to KKR) and Ecogas México are expected to be accretive and are anticipated to close in Q2–Q3 2026. Oncor expects more than a 30% increase in its roll-forward 2026–2030 base capital plan beyond the existing $36 billion 2025–2029 plan.
SRE YoY Financials
| Metric | Q3 2025 | Q3 2024 | Year over year |
|---|---|---|---|
| Revenue | $3.2B | $2.7B | +17.7% |
| Net Income | $150.0M | $649.1M | −76.9% |
| Operating Income | $160.0M | $374.0M | −57.2% |
SRE Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.