Utility Sempra Q3 adjusted EPS beats estimates on Texas demand
SRE•Sempra reported Q3 adjusted EPS of $1.40, above the $1.22 consensus, while revenue of $3.19 billion missed the $3.31 billion estimate. It expects a 20% increase to Oncor’s base capital plan and updated 2026 GAAP EPS guidance to $7.41-$8.41.
1. Quarterly results
Sempra reported Q3 adjusted EPS of $1.40, beating the $1.22 consensus, and adjusted net income of $917 million, above the $797.35 million estimate. Revenue was $3.19 billion, below the $3.31 billion estimate. Net income was $1.11 billion, and EPS was $1.34.
2. Guidance and investment
Sempra updated its 2026 GAAP EPS guidance range to $7.41-$8.41 and said it expects adjusted EPS at the high end of its $4.80-$5.30 range. It affirmed 2027 EPS guidance of $5.10-$5.70 and expects a 20% increase to Oncor’s base capital plan. The company said Texas economic growth drove new investment opportunities at Oncor, where system peak demand increased 6%.
3. Other priorities
Sempra highlighted California utility investments to modernize infrastructure, improve reliability and address wildfire risks. It said the sale of Ecogas and planned sale of a stake in Sempra Infrastructure Partners are part of capital recycling to strengthen its financial position and support utility growth.
