Sempra (SRE) Earnings Call Transcripts

Sempra's Latest Earnings Call - Q2 FY2026

In the second quarter of 2026, Sempra reported GAAP earnings of $796 million, or $1.21 per share, a significant increase from $461 million, or $0.71 per share, in the same quarter last year. Adjusted earnings were $762 million, or $1.16 per share, compared to $583 million, or $0.89 per share, in Q2 2025. Management affirmed full-year adjusted EPS guidance of $4.80 to $5.30 for 2026 and $5.10 to $5.70 for 2027, signaling confidence in continued growth despite challenges in the Texas market and California legislation discussions.

Reported metrics

Guidance from management

Management maintained its full-year adjusted EPS guidance of $4.80 to $5.30 for 2026 and provided new guidance for 2027 EPS of $5.10 to $5.70, reflecting confidence in ongoing growth initiatives.

What management said

Thank you, David. I think you got the time line correct. We obviously will look to update Sempra's roll forward 5-year plan as well as Oncor's on the Q4 call. And I think in my prepared remarks, we talked about the fact that we think that visibility into additional capital that we required to support the batch process as it moves forward in the information we get after that. I think we'll have to revisit how we can c...

Yes, I think that's a really good point, too, is the way this is being structured, it's almost like a reordering of existing process. And I think it's designed, I think, thoughtfully by the governor, to make sure that there's more input on the front end. So if we get to a more durable framework on the back end, Nick, I think that's a win for everyone in the process.

What analysts pressed on

Analysts expressed concerns regarding the potential delays in the batch zero process and the impact of legislative changes in California on Sempra's investment strategy. There is uncertainty about how these factors could affect future capital expenditures and overall growth.

Main topics on the call

• Strong Earnings Growth — Sempra's adjusted EPS increased by 30% year-over-year, with Q2 2026 adjusted earnings of $762 million compared to $583 million in Q2 2025. CEO Jeff Martin noted, "the strength of our execution can be seen in year-to-date...
• Texas Growth Opportunities — Oncor is positioned for significant growth, with a $47.5 billion base capital plan and an additional $10 billion in incremental capital opportunities. The company is optimistic about the demand growth in Texas, highlight...
• Pending Transactions — Sempra is set to close a 45% equity stake sale in SI Partners, which will simplify its business model and deconsolidate nearly $9 billion of debt from its balance sheet. This transaction is expected to close later in the...
• California Legislative Uncertainty — Management expressed cautious optimism regarding California wildfire liability legislation, emphasizing the importance of public policy for livability. CEO Martin stated, "I continue to believe that we'll see solid progr...

Read the full Sempra transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 52 Sempra earnings call transcripts on record, spanning February 27, 2020 to August 6, 2026. Based on this history, Sempra reports quarterly. The most recent call on file is dated August 6, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

SRE

Exchange

NYSE

Country

US

Sector

Utilities

Industry

Multi-Utilities

Calls on record

52

First call

February 27, 2020

Most recent

August 6, 2026

Reporting cadence

quarterly