Sempra raises full-year earnings forecast, beats quarterly estimates on utility rate gains

Aug. 6 (Reuters) - Energy infrastructure company Sempra (SRE.N) raised its full-year earnings forecast and beat second-quarter profit estimates on Thursday, helped by higher rates at its regulated utilities and growth in its Texas operations.

Utilities across the U.S. are benefiting from higher customer rates and rising electricity demand, particularly from data centers and industrial users, prompting billions of dollars of investment in power grids and transmission infrastructure.

• The company's results were lifted by strong performance at Sempra Texas, whose utility Oncor continued to expand its grid to meet rising power demand from industrial customers and data centers across North Texas.
• The company said unprecedented growth in Texas electric demand, highlighted by ERCOT's — the operator of the state's main power grid — new all-time peak load of 91 gigawatts in July.
• The San Diego, California-based firm expects 2026 earnings in the range of $5.02 to $5.55 per share, compared with its prior forecast of $4.87 to $5.37.
• Segment earnings at Sempra Infrastructure jumped 219% to $230 million, while those at Sempra Texas Utilities rose 66% to $346 million.
• Quarterly revenue at its electric segment rose 12.3% to $1.16 billion.

• Sempra affirmed its 2026 adjusted EPS guidance of $4.80 to $5.30 and 2027 EPS guidance of $5.10 to $5.70.
• It posted an adjusted profit of $1.16 per share for the three months ended June 30, beating analysts' average estimate of $1.06 per share, according to data compiled by LSEG.