Sempra Beats EPS Estimates at $1.40 as Revenue Falls Short at $3.19 Billion

Sempra (NYSE: SRE) reported third-quarter revenue of $3.19 billion, below the $3.31 billion analysts expected, and adjusted EPS of $1.40, above the $1.21 consensus estimate, in an 8-K filed Thursday, Nov. 5. Revenue rose about 1% from $3.15 billion a year earlier.

GAAP earnings were $877 million, or $1.34 per diluted share, compared with $77 million, or $0.12, in the third quarter of 2025. Adjusted earnings were $917 million, or $1.40 a share, against $728 million, or $1.11, a year earlier.

Nine-month results

For the first nine months of 2026, GAAP earnings were $2.710 billion, or $4.13 per diluted share, compared with $1.444 billion, or $2.21, a year earlier. Adjusted earnings were $2.670 billion, or $4.07 per share, against $2.253 billion, or $3.45.

Excluded items in the quarter included a $149 million regulatory disallowance charge at Sempra California and a $97 million gain on the sale of Ecogas, both after tax, with other items also excluded from adjusted results.

Guidance and capital plan

Sempra updated its full-year 2026 GAAP EPS guidance to $7.41 to $8.41. It is guiding to the high end of its 2026 adjusted EPS range of $4.80 to $5.30. The consensus full-year adjusted estimate is $5.13.

Sempra affirmed 2027 EPS guidance of $5.10 to $5.70. It said pending California regulatory outcomes could place it in the lower half of that range unless mitigated. Oncor projects its 2027-2031 base capital plan to rise about 20% from its 2026-2030 plan, and Sempra expects to finalize its 2027-2031 capital plan in February.

The company said the sale of a 45% equity interest in Sempra Infrastructure Partners to affiliates of KKR remains on track to close in the next two weeks.

Shares closed at $82.90 on Wednesday, Nov. 4, the last close before the filing.