Sempra reported third quarter 2026 adjusted EPS of $1.40, outperforming the analyst estimate of $1.18 despite a revenue miss at $3.19 billion. Management updated full-year GAAP EPS guidance and signaled that adjusted results are trending toward the high end of the current forecast, bolstered by significant demand records and infrastructure divestiture progress.
Key Highlights
- Oncor (Sempra Texas) announced a projected 20% increase to its 2027-2031 base capital plan, driven by rising load growth within the ERCOT market.
- Sempra Texas segment earnings rose to $460 million from $306 million year-over-year, while system peak demand reached a record 33.3 GW.
- The sale of a 45% equity stake in Sempra Infrastructure Partners to KKR remains on track to close in November 2026, alongside the completed sale of Ecogas in August.
- Regulatory uncertainty in California persists as a CPUC proposed decision denied a capital attrition mechanism for 2027, potentially impacting future segment earnings.