Sempra earnings overview

SRE FY2026 Q1 · Calendar Q2 2026

Sempra

Sempra's Q1 2026 results confirm the Texas-centric growth thesis remains intact. The company deployed $3 billion of its $13 billion T&D investment plan in the quarter, while Oncor secured PUCT approval for a higher authorized ROE and filed its inaugural UTM to reduce regulatory lag. A 127 GW large-load queue at Oncor and ERCOT's approximately $2.9 billion South Dallas transmission award expand the incremental $10 billion capex opportunity. LNG infrastructure is advancing, with ECA LNG entering startup and Cimarron Wind reaching commercial operation. The SI Partners transaction and Ecogas sale remain on track for 2026 close, supporting capital recycling. Adjusted EPS of $1.51 met consensus exactly, though revenue of $3.66 billion missed estimates by approximately 11%. The market reacted negatively, with an abnormal decline of 1.9% on 1.33x baseline volume. The stock currently trades at…