Sempra Energy (SRE)
NYSE:SRE
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Earnings Data
Report Date
Jul 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.02Last Year’s EPS
0.89Same Quarter Last Year
Strong Buy
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a constructive and forward-looking tone: management reported solid Q1 results, affirmed full-year guidance, and highlighted meaningful regulatory wins (Oncor rate decision, UTM filing) and project progress (ECA feed gas, Cimarron COD, Port Arthur on time). The company is executing an aggressive capital plan with clear upside in Texas and is advancing capital recycling (SI Partners, Ecogas) to strengthen the balance sheet. Headwinds include timing of some rate benefits, higher interest expense and tax impacts in segments, near-term rating-agency timing, and execution risks tied to regulatory processes, labor and remaining transactional consents. Overall, the positives (earnings growth, regulatory approvals, large-scale capital opportunities, project milestones, and affirmed guidance) materially outweigh the lowlights.Company Guidance
Strong Q1 Financial Results and Affirmed Guidance
Reported Q1 2026 GAAP earnings of $1.37 billion ($1.58/share) versus $906 million ($1.39/share) in Q1 2025 (≈+51% GAAP earnings; ≈+13.7% GAAP EPS). Adjusted earnings were $991 million ($1.51/share) versus $942 million ($1.44/share) a year ago (≈+5.2% adjusted earnings; ≈+4.9% adjusted EPS). Management affirmed full-year 2026 adjusted EPS guidance of $4.80–$5.30, 2027 EPS guidance of $5.10–$5.70, and long-term EPS growth of 7%–9%.
Significant Capital Deployment and Large Capital Plan
Deployed $3.0 billion of investment capital in Q1, on track for the ~$13 billion T&D investment target for 2026. Company executing a record $65 billion capital plan with ~11% projected annual rate base growth and ~ $9 billion of incremental capital opportunities beyond the base plan.
Oncor Regulatory Wins Improving Returns
PUCT approved Oncor settlement with higher authorized equity layer (43.5%), authorized ROE of 9.75%, and cost of debt of 4.94%. Approval also allows surcharge recovery for Jan 1–Jun 1, 2026, expected to improve earned returns and credit metrics during elevated capital investment.
Oncor Transmission / Load Opportunity (Texas Upside)
Company reported large-load opportunity (company cited 127 GW of qualifying load) and submitted 102.22 GW of ≥75 MW load plus 5.2 GW medium load in RTP filing. ERCOT queue includes ~289 GW of large load (≈271 GW data-center related). Oncor has a $47.5 billion capital plan and identified ~$10 billion incremental CapEx opportunity; Oncor earnings expected to grow ~30% annually through midpoint of 2027 guidance.
Progress on Infrastructure and LNG Projects
Cimarron Wind declared COD. ECA LNG Phase 1 introduced feed gas and began startup; first LNG expected next month with substantial completion targeted this summer (revenues begin at substantial completion). Port Arthur LNG Phase 1 & Phase 2 construction progressing on time and on budget.
SI Partners Transaction and Capital Recycling
Making progress toward closing SI Partners transaction with key approvals from FERC and antitrust regulators; closing expected in 2026. Proceeds to be used to reinvest in utilities and strengthen balance sheet. Ecogas sale remains on track to close in Q2–Q3 2026.
Operational Improvements and Supply-Chain Progress
Oncor submitted inaugural UTM to incorporate $4.4 billion of T&D assets into rates (reduces regulatory lag; can be filed every 365 days). Oncor is diversifying supply base, expanding logistics/warehousing, securing labor and materials, and increasing contract labor (nearly tripled contract labor usage) to reduce execution risk.
SRE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SRE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $93.67 | $91.57 | -2.24% |
Feb 26, 2026 | $93.85 | $94.54 | +0.74% |
Nov 05, 2025 | $91.17 | $91.09 | -0.10% |
Aug 07, 2025 | $79.43 | $80.84 | +1.78% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Sempra Energy (SRE) report earnings?
Sempra Energy (SRE) is schdueled to report earning on Jul 30, 2026, Before Open (Confirmed).
What is Sempra Energy (SRE) earnings time?
Sempra Energy (SRE) earnings time is at Jul 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SRE EPS forecast?
SRE EPS forecast for the fiscal quarter 2026 (Q2) is 1.02.