Sempra reported second quarter 2026 adjusted earnings of $762 million, or $1.16 per share, exceeding consensus estimates of $1.01. Results were driven by strong operational execution and regulatory progress in the Texas and California utility segments, despite total revenue of $3.0 billion falling slightly below the expected $3.14 billion.
Key Highlights
- Adjusted EPS of $1.16 beat the $1.01 estimate by 15%, supported by a 30% year-over-year increase in adjusted earnings.
- Oncor's new base rates became effective June 1, 2026, with an additional surcharge taking effect August 1 to recover rate differences from the first half of the year.
- The company affirmed its 2026 adjusted EPS guidance range of $4.80 to $5.30 and its projected long-term growth rate of 7% to 9%.
- Sempra invested over $6 billion in capital expenditures during the first half of 2026, part of its $65 billion five-year 2026-2030 capital plan.