Sempra Energy earnings date
Sempra Energy (SRE) Q3 2026 Earnings Report
MX:SRE Q3 2026 EPS Results
- Actual EPS
- MXN 26.04
- Consensus EPS
- MXN 22.79
- Beat/Miss
- Beat by +MXN 3.26
- One Year Ago EPS
- MXN 20.65
MX:SRE Q3 2026 Revenue Results
- Actual Revenue
- MXN 62.43B
- Expected Revenue
- MXN 61.63B
- Beat/Miss
- Beat by +MXN 800.56M
- YoY Revenue Growth
- +5.40%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/05/2026
- Time
- Before Open
- Conference Call
- Thursday, November 5, 2026
Sempra Energy's next earnings date is estimated for March 2, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was broadly positive, supported by 26% adjusted earnings growth, strong Texas demand, a projected approximately 20% increase in Oncor's base capital plan, high-end 2026 guidance, and multiple funding and infrastructure growth opportunities. The primary negatives were California's proposed regulatory decision and related 2027 earnings risk, unresolved wildfire policy, and uncertainty around Texas regulatory processes and batch zero. Management characterized the California issue as limited to 2027 and continued to express confidence in the broader growth outlook.
Sempra guided to the high end of its full year 2026 adjusted EPS guidance range of $4.80-$5.30, affirmed its 2027 EPS guidance range of $5.10-$5.70 while recognizing that pending regulatory outcomes could cause results to be in the lower half of this range, and affirmed its projected long term EPS growth rate of 7%-9%; 2026 rate base is now projected to exceed $65 billion later this year, with approximately 11% rate base growth expected in the 2026 to 2030 plan. Oncor’s 2027 through 2031 base capital plan is expected to reflect a significant increase of approximately 20% over its existing $47.5 billion capital plan, while Sempra California segment earnings in 2027 would be toward the low end of its guidance range if the regulatory issue is not corrected, with the potential financial impact limited to 2027 only; Project 58 thousand proposals are expected to reduce the residential customer bill between 15 and $35 per year, or about a $1.14 billion of savings over 10 years.
- Strong Third-Quarter Earnings GrowthThird-quarter 2026 GAAP earnings were $877 million, or $1.34 per diluted share, compared with $77 million, or $0.12 per share, in the third quarter of 2025. Adjusted earnings were $917 million, or $1.40 per share, up 26% from $728 million, or $1.11 per share.
- 2026 Guidance at High End and 2027 Guidance AffirmedSempra is guiding to the high end of its 2026 adjusted EPS guidance range of $4.80-$5.30 and affirming its 2027 EPS guidance range of $5.10-$5.70. The company also affirmed its projected long-term EPS growth rate of 7%-9%, while noting that pending regulatory outcomes could cause 2027 results to be in the lower half of the range.
- Broad-Based Rate Base ExpansionSempra's rate base has grown from approximately $14 billion in 2018, all located in California, to a projected level exceeding $65 billion in 2026. Management also cited approximately 11% rate base growth across its utility platforms in the 2026-2030 plan.
- Robust Oncor Demand GrowthOncor reached a new system peak of 33 gigawatts, a 6% increase over the prior record set last year. Management said electric demand in Texas continues to exceed expectations and is supported by robust economic growth.
- Oncor Capital Plan Expected to Increase Approximately 20%Sempra expects to announce a 2027-2031 Oncor base capital plan in February that is expected to reflect an increase of approximately 20% over the existing $47.5 billion capital plan. The increase is expected to reflect the one-year roll-forward, continued customer load growth, and projects moved from the incremental opportunity bucket into the base plan.
- Additional Oncor Capital UpsideThe expected 20% increase in Oncor's base plan excludes the SRP, the Eastern Step 765 projects, and batch zero projects. Management said these projects remain in the incremental opportunity bucket or represent upside beyond the base and incremental plans.
- Transmission Projects AdvancingThe PUCT approved both segments of Import Path 1 as part of the larger 765 kV Permian Basin reliability plan. Management said the projects are critical to addressing reliability concerns and grid constraints in West Texas and the greater DFW Metroplex. Import Path 2 remains under PUCT consideration.
- Texas Earnings Contribution IncreasedSempra Texas delivered $154 million of higher equity earnings, driven by new base rates, the unified tracker mechanism, the SRP, and higher customer consumption, primarily attributable to weather.
- California Infrastructure ModernizationSempra California continues to invest in infrastructure modernization to enhance reliability, safety, and customer service. The company is advancing compressor station modernization projects at both utilities, launched a new customer information system at SoCalGas, and is advancing the Golden State Power Link, a FERC-regulated 500 kV transmission line extending more than 100 miles across SDG&E's eastern system.
- SI Partners Transaction Nearing ClosingSempra said it expects to close the sale of a 45% equity stake in SI Partners within the next 2 weeks. The two remaining closing conditions—consent from Cameron partners and consent from lending agencies in Japan—were described as being in great shape.
- Balance-Sheet and Funding FlexibilityFollowing the SI Partners transaction, Sempra expects to pay down debt, strengthen the balance sheet, and lower its risk profile. Management also cited internally generated cash flows, SI Partners proceeds, incremental capital recycling, the established ATM program, hybrid financing, debt financing, and the remaining 25% Sempra Infrastructure stake as potential funding sources.
- Affordability Measures Could Reduce Residential BillsOncor discussed potential changes under Project 58 thousand, including a possible shift from 4CP to 12CP methodology and a take-or-pay or new large-load tariff for loads above 75 megawatts. Based on modeled proposals, management believes these changes could cover the cost of investments and reduce residential customer bills by $15-$35 per year, representing approximately $1.14 billion of savings over 10 years.
- Broad-Based Non-Data-Center Load GrowthLarge-load requests excluding data centers increased 23% year over year. Management cited 19 gigawatts of non-data-center demand, including approximately 6 gigawatts from manufacturing, 5 gigawatts from oil and gas expansion, 4 gigawatts from utility and government expansion including military bases, and 4 gigawatts from other commercial and industrial customers.
- Sempra Infrastructure Earnings IncreaseSempra Infrastructure earnings increased by $53 million, primarily due to lower depreciation from assets held for sale, lower interest expense, lower O&M, and other items, partially offset by lower asset optimization.
- Operational Transformation and Leadership ChangesManagement said business transformation programs focused on people, process, innovation, and technology have paid real dividends at the California utilities in 2025 and 2026. Following the expected SI Partners closing, Justin Bird will transition to chief financial officer, Karen Sedgwick will become President and CEO of SoCalGas, and Faisal Khan will return as chief commercial officer.
MX:SRE Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 02, 2027 | 2026 (Q4) | 22.14- | 23.81 | ― | ― |
| Nov 05, 2026 | 2026 (Q3) | 22.7926.04 | 20.65 | 26.13% (+5.39) | |
| Aug 06, 2026 | 2026 (Q2) | 19.6821.58 | 16.56 | 30.34% (+5.02) | |
| May 07, 2026 | 2026 (Q1) | 28.1828.09 | 26.79 | 4.86% (+1.30) | |
| Feb 26, 2026 | 2025 (Q4) | 23.0523.81 | 27.9 | -14.67% (-4.09) | |
| Nov 05, 2025 | 2025 (Q3) | 16.9520.65 | 16.56 | 24.72% (+4.09) | |
| Aug 07, 2025 | 2025 (Q2) | 15.7416.56 | 16.56 | 0.00% (+0.00) | |
| May 08, 2025 | 2025 (Q1) | 24.5426.79 | 24.93 | 7.46% (+1.86) | |
| Feb 25, 2025 | 2024 (Q4) | 29.8027.90 | 21.02 | 32.74% (+6.88) | |
| Nov 06, 2024 | 2024 (Q3) | 19.5916.56 | 20.09 | -17.59% (-3.53) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
