Sempra Energy NYSE: SRE affirmed its 2026 and 2027 earnings guidance as management highlighted higher earnings across its business segments, a planned asset-sale strategy and growing transmission investment opportunities in Texas during its second-quarter earnings call.
While the top- and bottom-line numbers for Sempra (SRE) give a sense of how the business performed in the quarter ended June 2026, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Sempra (SRE) Q2 2026 Earnings Call Transcript
SRE tops Q2 earnings estimates as utility and infrastructure profits surge, but revenues dip and miss forecasts despite stronger operating cash flow.
Sempra (SRE) came out with quarterly earnings of $1.16 per share, beating the Zacks Consensus Estimate of $1.01 per share. This compares to earnings of $0.89 per share a year ago.
SRE's Q2 results are likely to reflect rate-base growth, Oncor benefits and initial ECA LNG revenues, with earnings and sales projected to rise.
Sempra (SRE) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
SRE expands LNG, utility and renewable energy investments to meet rising power demand, though wildfire risks remain a concern.
Energy infrastructure company Sempra said on Wednesday that it has received approvals for new transmission projects in Texas which, along with earlier go-aheads, are expected to cost more than $7 billion.
Activist investor Voss Capital has urged Sempra to spin off its Oncor electricity unit, creating a high-growth Texas-focused utility unencumbered by the $60 billion energy giant's predominant California business, according to sources familiar with the matter and a letter seen by Reuters on Thursday.
I am rating Sempra a Strong Buy because Oncor's 127 GW qualifying load forecast creates a much larger long-term transmission and distribution opportunity for the company. The biggest growth driver is Oncor's large-load opportunity in Texas. I estimate that if only 20 GW of Oncor's 127 GW load converts, it could create $17 billion of incremental rate base. My price target is $163, representing a 76% potential upside. I arrive at the PT by using a 21x FWD earnings multiple and a 2030 EPS estimate of $7.74.
SRE matches Q1 earnings estimates as strong infrastructure and Texas utility results help offset lower revenues and rising debt.