#United States #San Diego #Financial Performance #Sempra Energy #Utility Growth

Overview of Sempra's Q1 2026 Performance

On May 7, 2026, Sempra (NYSE: SRE) announced its first-quarter earnings for the year, revealing substantial improvements from the previous year. The company reported earnings of $1.04 billion, equating to $1.58 per diluted share, compared to $906 million or $1.39 per diluted share in the same quarter of 2025. When adjusted for certain items, the earnings totaled $991 million or $1.51 per diluted share, an increase from $942 million or $1.44.

Financial Highlights

• - GAAP Results: 2026's first-quarter GAAP earnings reached $1.04 billion versus $906 million in Q1 2025, demonstrating a growth trajectory in profitability.
• - Adjusted Earnings: Adjusted figures, which exclude certain significant items, also displayed growth, aligning with Sempra's forecast and financial strategies.
• - Shareholder Value: The company’s commitment to enhancing shareholder value was evident, as evidenced by the EPS increase and strategic investments geared toward long-term growth.

Leadership Insights

Jeffrey W. Martin, Sempra's chairman and CEO, expressed optimism about the company’s performance, stating, "Our results reflect a solid start to the year, and our strategies are aimed at modernizing our operations while extending service capabilities across our utilities."

Investment and Growth Strategies

In the first quarter, Sempra continued executing its 2026 value creation initiatives, intending to invest nearly $13 billion to enhance energy infrastructure. The focus remains on:

• - Modernization and Expansion: Engaging in projects that not only meet current energy demands but also future-proof the utility landscape.
• - Capital Recycling: Streamlining operations to maximize financial returns, including successful transactions recently concluded.
• - Community Focus: Ensuring that advancements directly benefit the communities served, with innovations designed to enhance safety and service quality, and affordability in energy costs.

Noteworthy Developments in Texas and California

In Texas, the Public Utility Commission approved an annual revenue requirement for Oncor Electric Delivery Company, bolstering its financial strength and future investments in energy infrastructure. In California, Sempra’s operations emphasized reliability, particularly during extreme conditions such as Winter Storm Fern, with the utilities engaging proactively to mitigate energy costs for consumers.

Future Outlook and Guidance

Sempra has updated its full-year 2026 GAAP EPS guidance range to between $4.87 and $5.37, reaffirming its projected adjusted EPS within a similar bracket. The long-term EPS growth rate is expected to remain around 7% to 9%, reflecting continual improvements in operational efficiency and investment returns.

Conclusion

Sempra's first-quarter results not only highlight impressive financial growth but also reinforce the company’s viability and resilience in the energy sector. The strategic initiatives in place are aimed at securing a robust future for the organization and the communities it serves.

For more detailed insights, stakeholders can tune into a live internet broadcast of the earnings discussion taking place later today at noon ET, available on the company’s investor relations page.

About Sempra

Sempra is dedicated to becoming the leading utility growth company in America, owning one of the largest energy networks on the continent. Committed to operational excellence and sustainable practices, Sempra continues to be recognized for innovative approaches in the utility space. For further information, visit sempra.com.