Skip to content
Optionomics Free · No account needed

Earnings analysis · 10-Q

SRE earnings analysis

Filed May 7, 2026 · Our reading of the company's report

The latest report

Sempra reported Q1 2026 earnings of $1.037 billion, or $1.51 per diluted share, matching analyst expectations for EPS. Revenue fell to $3.655 billion, missing the $4.125 billion target amid significant fluctuations in…

Read full summary

Sempra reported Q1 2026 earnings of $1.037 billion, or $1.51 per diluted share, matching analyst expectations for EPS. Revenue fell to $3.655 billion, missing the $4.125 billion target amid significant fluctuations in segment earnings across key utilities. Capital expenditures continued at a robust pace, totaling $3.337 billion for the quarter as part of ongoing investment strategies.

Read the original on SEC.gov

Reported figures

Earnings per share
$1.51
Segment
Sempra California
Segment
Sempra Texas Utilities
Segment
Sempra Infrastructure

What stood out

  • EPS Matches Analyst Expectations

    Reported diluted EPS of $1.51 met estimates but showed a decline from prior periods.

  • Significant Revenue Decline

    Total revenue of $3.655 billion fell short of the $4.125 billion estimate, representing a 11.4% miss.

  • Strong Capital Expenditures

    Capital expenditures reached $3.337 billion, highlighting commitment to infrastructure.

  • Segment Earnings Variability

    Sempra California earnings decreased by $4 million (1%) compared to Q1 2025.

  • Growth in Infrastructure Earnings

    Sempra Infrastructure saw an earnings increase of $116 million year-over-year.

  • Operating Cash Flow Improvement

    Cash flow from operations increased by $327 million year-over-year to $1.809 billion.

What to watch

  • High Capital Expenditures

    Capital expenditures increased to $3.337 billion in Q1 2026, raising concerns over cash management.

  • Regulatory Risks

    Dependence on regulatory frameworks exposes Sempra to significant operational risks, especially in California.

  • Declining Revenues in Key Segments

    Natural gas revenue decreased by 14% to $2.025 billion, driven largely by Sempra California.

Management's outlook

Management expects EPS in the range of $4.87 to $5.37 for FY 2026, reflecting ongoing capital investments.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.