Earnings summaries and quarterly performance for SEMPRA.
Executive leadership at SEMPRA.
Jeffrey Martin
Detailed
Chairman, Chief Executive Officer and President
CEO
April Robinson
Detailed
Corporate Secretary
Diana Day
Detailed
Chief Legal Counsel
Justin Bird
Detailed
Executive Vice President
Karen Sedgwick
Detailed
Executive Vice President and Chief Financial Officer
Peter Wall
Detailed
Senior Vice President, Controller and Chief Accounting Officer
Board of directors at SEMPRA.
Andrés Conesa
Detailed
Director
Anya Weaving
Detailed
Director
Cynthia Warner
Detailed
Lead Independent Director
Jack Taylor
Detailed
Director
James Yardley
Detailed
Director
Jennifer Kirk
Detailed
Director
Kevin Sagara
Detailed
Director
Michael Mears
Detailed
Director
Pablo Ferrero
Detailed
Director
Richard Mark
Detailed
Director
Research analysts who have asked questions during SEMPRA earnings calls.
Carly Davenport
Goldman Sachs
6 questions for SRE
Also covers: AEE, AEP, D +14 more
Nicholas Campanella
Barclays
5 questions for SRE
Also covers: AEE, AEP, AES +32 more
Shahriar Pourreza
Guggenheim Partners
5 questions for SRE
Also covers: AEE, AEP, AVA +29 more
David Arcaro
Morgan Stanley
4 questions for SRE
Also covers: AEP, AES, ATO +32 more
Julien Dumoulin-Smith
Jefferies
4 questions for SRE
Also covers: AEE, AEP, AES +54 more
Durgesh Chopra
Evercore ISI
2 questions for SRE
Also covers: AEE, AEP, AES +22 more
Ross Fowler
Bank of America
2 questions for SRE
Also covers: AEP, BKH, D +10 more
Sophie Karp
KeyBanc Capital Markets Inc.
2 questions for SRE
Also covers: AGR, AVA, CEG +12 more
Steven Fleishman
Wolfe Research
2 questions for SRE
Also covers: AEP, CEG, CNP +18 more
Anthony Crowdell
Mizuho Financial Group
1 question for SRE
Also covers: AEE, AEP, AES +30 more
Paul Fremont
Ladenburg Thalmann
1 question for SRE
Also covers: AEE, CNP, CPK +17 more
Steve Fleishman
Wolfe Research, LLC
1 question for SRE
Also covers: AEP, CEG, CNP +11 more
Recent press releases and 8-K filings for SRE.
Sempra reports Q3 2025 results and affirms guidance
SRE
Earnings
Guidance Update
M&A
- Sempra reported Q3 2025 adjusted EPS of $1.11 and YTD adjusted EPS of $3.45, while affirming FY 2025 adjusted EPS guidance of $4.30 – $4.70 and FY 2026 guidance of $4.80 – $5.30, targeting a 7 – 9% EPS CAGR for 2025 – 2029.
- The company signed a definitive agreement to sell 45% of SI Partners for $10 billion, with closing expected in Q2 – Q3 2026; the deal is projected to add $0.20 of EPS and raise its regulated mix to 95%.
- Oncor-related activity included $4.5 billion of CapEx YTD and ~16,000 new premises added, with transmission expansion projects totaling $32 – $35 billion, driving a 30%+ increase in the 2026 – 2030 capital plan.
- Sempra has deployed ~$9 billion of its $13 billion 2025 CapEx plan, prioritizing utility investments and improved returns.
Nov 5, 2025, 5:00 PM
Sempra reports Q3 2025 earnings and updates growth initiatives
SRE
Earnings
Guidance Update
New Projects/Investments
- Q3 2025 adjusted EPS of $1.11 vs. $0.89 in the prior year; affirmed full-year 2025 guidance of $4.30–$4.70 and 2026 guidance of $4.80–$5.30.
- Deployed nearly $9 billion of capital through Q3, on track for $13 billion year-end; Oncor’s 2025–2029 base capital plan ($36 billion) will grow by at least 30%, creating a $55–60 billion investment opportunity through 2030.
- Announced sale of 45% stake in Sempra Infrastructure Partners for $10 billion, unlocking $0.20 EPS accretion from 2027, deconsolidating debt, and enhancing regulated earnings mix.
- Advancing LNG projects: Port Arthur Phase I on track for COD in 2027; Phase II reached FID and full EPC notice to proceed; ECA I ~95% complete with first LNG in spring 2026; Cameron ~95% complete with initial turbine synchronization.
- California SB 254 de-risking event splits wildfire fund costs evenly; SDG&E’s share is 4.3% (~$13 million/year through 2045), strengthening utility financial safeguards.
Nov 5, 2025, 5:00 PM
Sempra reports Q3 2025 results
SRE
Earnings
Guidance Update
New Projects/Investments
- Adjusted EPS of $1.11 vs. $0.89 in Q3 2024; affirmed FY 2025 guidance of $4.30–$4.70 and FY 2026 guidance of $4.80–$5.30
- Deployed $9 billion of planned $13 billion in 2025 capital; agreed to sell 45% stake in Sempra Infrastructure for $10 billion (closing mid-2026), unlocking $0.20 EPS accretion annually over 2027–2031
- LNG projects on track: Port Arthur Train 1 COD in 2027; ECA Phase 1 ~95% complete with first LNG in spring 2026; Cameron LNG ~95% complete, COD in H1 2026
- Oncor rate review advancing (UTM interim rates approved, hearing begins Nov 17); 2026–2030 capital plan up >30% on strong growth (LC&I queue +10%, +16 k premises, 660 miles of T&D upgrades)
Nov 5, 2025, 5:00 PM
Sempra reports Q3 2025 results and guidance
SRE
Earnings
Guidance Update
M&A
- Adjusted EPS of $1.11 for Q3 2025, versus $0.89 a year ago; GAAP EPS was $0.12, and the company reaffirmed 2025 guidance of $4.30–$4.70 and 2026 guidance of $4.80–$5.30.
- Deployed ~$9 billion through Q3 toward a $13 billion 2025 capital investment goal, primarily in U.S. utilities, with a strategic focus on Texas.
- Agreed to sell a 45% stake in Sempra Infrastructure Partners for $10 billion, expected to add $0.20 EPS accretion annually from 2027–2031, bolster regulated earnings mix, and strengthen the balance sheet; EcoGas sale process remains on track.
- Oncor’s transmission plan to see a >30% increase to its 2026–2030 capital program (base $36 billion), driven by ERCOT’s $32–$35 billion 765 kV expansion, with Oncor’s share >50%.
- Regulatory updates include Oncor’s interim rate settlement applying final rates back to January 1, 2026, and California SB 254 enhancing wildfire fund stability and claims liquidity.
Nov 5, 2025, 5:00 PM
Sempra reports Q3 2025 results
SRE
Earnings
Guidance Update
M&A
- Q3 GAAP earnings of $77 million ($0.12 per share) versus $638 million ($1.00 per share) in Q3 2024; adjusted earnings of $728 million ($1.11 per share) versus $566 million ($0.89 per share) year-over-year.
- Year-to-date through September 30, GAAP earnings of $1.444 billion ($2.21 per share) compared with $2.152 billion ($3.38 per share) in 2024; adjusted earnings of $2.253 billion ($3.45 per share) versus $1.987 billion ($3.12 per share).
- Announced strategic sale of a 45% stake in Sempra Infrastructure Partners to KKR affiliates, expected to close in Q2–Q3 2026 to advance value-creation initiatives.
- Updated full-year 2025 GAAP EPS guidance to $3.05–$3.45, affirmed adjusted EPS guidance of $4.30–$4.70, and reiterated 2026 EPS guidance of $4.80–$5.30.
Nov 5, 2025, 12:55 PM
Sempra announces 45% Infrastructure stake sale and Port Arthur LNG Phase 2 FID
SRE
M&A
New Projects/Investments
- Sempra agreed to sell 45% of Sempra Infrastructure to KKR for approximately $10 billion, implying a $32 billion EV (13.8× EBITDA); Sempra will retain 25%, deconsolidate the subsidiary, and expects $0.20 annual EPS accretion from 2027, with closing in Q2–Q3 2026.
- Approved FID on Port Arthur LNG Phase 2, targeting trains 3 & 4 in service by 2030/2031, with Sempra’s proportionate interest at 12.5%, incremental capex of $12 billion plus $2 billion for shared facilities, and expected unlevered after-tax returns > 13%.
- Building on over $15 billion raised from Infrastructure equity sales over five years at ~20% CAGR, proceeds will fund Texas utility capex, targeting 95% regulated earnings (excluding parent) and eliminating common equity issuances under the 2025–2029 plan.
- Transaction deconsolidates ~$10 billion of debt, delivers ~90% of cash proceeds within two years, and is expected to improve FFO/debt metrics and lower credit downgrade thresholds.
Sep 23, 2025, 3:00 PM
Sempra sells Infrastructure Partners stake and outlines 2025 value creation strategy
SRE
M&A
Guidance Update
- Sempra will sell a 45% stake in Sempra Infrastructure Partners for $10 B, implying an equity value of $22.2 B and EV of $31.7 B at 13.8× EV/EBITDA, with the transaction expected to close in Q2–Q3 2026 and deliver $0.20 average EPS accretion annually.
- Proceeds (≈$9.9 B cash at closing plus debt instruments) will eliminate common equity needs in the 2025–2029 capital plan, fund $13 B of priority utility investments, and simplify the business by selling non-core Mexico assets.
- Post-transaction, the regulated business mix is targeted to increase from ~81% to 95%, strengthening the balance sheet and improving FFO-to-debt.
- Sempra affirmed its FY 2025 adjusted EPS guidance of $4.30–$4.70 and FY 2026 guidance of $4.80–$5.30, reinforcing a projected EPS CAGR of 7–9% through 2029.
Sep 23, 2025, 3:00 PM
Sempra sells 45% stake in infrastructure unit and greenlights Port Arthur LNG Phase 2
SRE
M&A
Debt Issuance
New Projects/Investments
- Sempra signed a definitive agreement to sell a 45% interest in Sempra Infrastructure to KKR for approximately $10 billion, implying an enterprise value of $32 billion and equity value of $22.2 billion; Sempra will retain a 25% stake and deconsolidate the unit, shifting to equity-method accounting.
- The transaction is projected to be EPS accretive, with an average annual accretion of $0.20 starting in 2027, and delivers nearly half the cash proceeds upfront, with the remainder accruing interest at 7.5% (payable 2027), 8.5% through 2030 and 10% thereafter.
- Sempra Infrastructure achieved FID on Port Arthur LNG Phase 2 (trains 3 & 4), targeting commercial operations in 2030 and 2031; project capex is $12 billion plus $2 billion for shared facilities, with Sempra’s proportionate interest at 12.5% and expected unlevered after-tax returns above 13%.
- The capital recycling advances Sempra’s strategy to derive 95% of earnings from regulated utilities (versus 81% in 2024), fortifies the balance sheet by deconsolidating ~$10 billion of debt, and removes the need for equity issuances under its 2025–2029 plan.
Sep 23, 2025, 3:00 PM
Sempra sells 45% stake in Sempra Infrastructure and approves Port Arthur LNG Phase 2
SRE
M&A
New Projects/Investments
Guidance Update
- Sempra agreed to sell a 45% interest in Sempra Infrastructure to KKR for approximately $10 billion, at an implied enterprise value of $32 billion (13.8× EBITDA), retaining a 25% equity stake post-closing.
- The structured deal delivers nearly half the cash proceeds up front, with remaining proceeds accruing interest at 7.5% (payable 2027), 8.5% (through 2030), and 10% thereafter, expects to deliver 90% of cash within two years, and is projected to be accretive by $0.20 EPS annually from 2027; closing is slated for Q2–Q3 2026.
- Through this and prior transactions, Sempra has recycled over $15 billion from Sempra Infrastructure divestitures over five years, achieving a 20% CAGR in franchise equity value and retaining a $5.5 billion residual equity value in the franchise.
- Sempra also took final investment decision on Port Arthur LNG Phase 2, reaffirms its 2025 and 2026 adjusted EPS guidance, and will update its five-year capital plan on the Q4 2025 earnings call.
Sep 23, 2025, 3:00 PM
Sempra sells 45% of Infrastructure arm to KKR and takes FID on Port Arthur LNG Phase 2
SRE
M&A
New Projects/Investments
Guidance Update
- Sempra signed a definitive agreement to sell 45% of Sempra Infrastructure to KKR for ~$10 billion, implying an enterprise value of $32 billion at 13.8× EBITDA; Sempra will retain 25% and deconsolidate the business, accounting for it under the equity method.
- The transaction is structured to deliver ~50% cash upfront, with the remainder accruing interest (7.5%–10%) through 2027–2033, and is expected to be EPS-accretive, adding $0.20 annually on average from 2027 on a full-year basis.
- Sempra Infrastructure took a positive final investment decision on Port Arthur LNG Phase 2 (Trains 3&4), committing $12 billion of incremental capex plus $2 billion for shared facilities; Sempra’s pro rata interest is 12.5%, with unlevered after-tax returns above 13%.
- The deal advances Sempra’s goal of shifting to 95% regulated utility earnings (from 81% in 2024), eliminates planned equity issuances under the 2025–2029 plan, and the company reaffirmed its 2025 and 2026 adjusted EPS guidance.
Sep 23, 2025, 3:00 PM
Quarterly earnings call transcripts for SEMPRA.
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