Sempra's 2026 Third Quarter Earnings Showcase Strong Growth and Future Plans

Sempra Reports Strong Financial Results for Third Quarter 2026

Sempra Energy, a prominent player in the U.S. utility market, recently revealed its third-quarter earnings for 2026, showcasing impressive growth and strategic advancements. For this quarter, Sempra reported earnings of $877 million, equating to $1.34 per diluted share, a notable increase compared to the $77 million reported, or $0.12 per diluted share, in the same period last year. On an adjusted basis, the earnings rose to $917 million or $1.40 per diluted share, up from $728 million or $1.11 per share in 2025.

Solid Year-to-Date Performance

The year-to-date performance illustrates Sempra's commitment to executing disciplined business strategies. “Our results thus far signify effective execution across the board and continuing progress with our value creation initiatives targeted for 2026,” stated Jeffrey W. Martin, Chairman and CEO of Sempra. Sempra's GAAP earnings for the first nine months of 2026 stood at $2.710 billion, or $4.13 per diluted share, reflecting a significant rise from $1.444 billion, or $2.21 per diluted share, during the same timeframe in 2025. Adjusted earnings also saw an uptick, reaching $2.670 billion or $4.07 per share compared to $2.253 billion or $3.45 per share year-over-year.

Expansion Initiatives Ahead

As part of its forward-looking strategy, Sempra is in the final stages of selling a 45% stake in Sempra Infrastructure Partners to affiliates of KKR, expected to bolster its financial standing and drive growth within its Texas and California utilities. This follows the successful sale of Ecogas México earlier in August, reflecting Sempra's commitment to simplifying its business model while enhancing financial performance.

The utility market in Texas continues to expand, with Oncor Electric Delivery Company forecasting a 20% increase in its base capital plan for 2027-2031, attributed primarily to the rising demand for electric service. Recently, Oncor set a new peak demand record of 33.3 gigawatts (GW), reinforcing the need for continued upgrades to the electric grid to ensure reliability.

Focus on California's Resilience

In California, Sempra's utilities are maintaining their focus on safety and reliability while addressing affordability concerns in collaboration with state leaders to develop sustainable energy solutions. San Diego Gas & Electric (SDG&E) achieved a milestone by reaching an all-time peak net system energy demand of 5.2 GW, highlighting the vital role of a reliable grid, particularly amid extreme weather conditions.

Recent regulatory approvals related to the development of the Permian Basin Reliability Plan (PBRP) show Sempra's proactive measures in enhancing its transmission infrastructure in Texas. The Public Utility Commission of Texas has already approved critical segments of this plan, aimed at addressing the pressing reliability concerns within the state.

Earnings Guidance Update

Looking ahead, Sempra has revised its full-year 2026 GAAP earnings guidance range to $7.41 to $8.41, which reflects robust outcomes through the third quarter. The company is optimistic about reaching the upper end of its adjusted EPS guidance, favoring growth initiatives and operational expense management.

With expectations set for long-term earnings growth rates of 7-9%, Sempra is confident in its capacity to navigate the evolving utility landscape. The upcoming fourth-quarter earnings call in February is anticipated to unveil further details about the 2027-2031 capital plan and ongoing initiatives to reinforce growth in its key markets.

Conclusion

This quarter’s results underscore Sempra’s effective management and strategic foresight as it positions itself as a leader in America’s utility sector and continues to invest heavily to modernize infrastructure and enhance operational efficiency. As the markets in California and Texas demand greater reliability and resilience, Sempra's focused growth strategy is poised to benefit both customers and investors alike. For more details on Sempra’s performance and strategic initiatives, visit Sempra's Investor Relations.