Sempra Posts Strong Second-Quarter Gains as Texas Infrastructure Expands
Sempra reported second-quarter 2026 earnings of $796 million, or $1.21 per share, marking a significant increase from $461 million, or $0.71 per share, during the same period last year. CEO Jeffrey W. Martin attributed the results to disciplined execution and consistent operational improvements across the firm's utility network.
The company’s adjusted earnings for the quarter reached $762 million, up from $583 million in 2025. This financial performance supports Sempra's five-year capital plan of approximately $65 billion, with the vast majority of investment directed toward utility operations in Texas and California. In Texas, Oncor Electric Delivery Company saw new base rates take effect in June, following record-breaking energy demand in the region. The Electric Reliability Council of Texas recorded an all-time peak load of 91 gigawatts in July, fueling a pipeline of high-voltage transmission projects currently awaiting regulatory approval.
In California, the company continues to prioritize grid resilience and wildfire risk mitigation. San Diego Gas & Electric and Southern California Gas Company recently filed their 2028 General Rate Case applications, outlining a strategy for continued infrastructure investment and cost management. Meanwhile, Sempra remains on track to finalize the sale of a 45% stake in Sempra Infrastructure Partners to KKR, a move designed to simplify the corporate strategy and bolster the balance sheet. Looking ahead, Sempra has affirmed its full-year 2026 adjusted earnings guidance range of $4.80 to $5.30 per share.
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