Summary
Sempra reported a solid first quarter for 2026, with earnings attributable to common shares of $1.04 billion, or $1.58 per diluted share, a significant increase from $919 million, or $1.39 per diluted share, in the first quarter of 2025. This growth was primarily driven by strong performance in the Sempra Infrastructure segment, which saw a $116 million increase in earnings. Sempra California's earnings remained relatively stable, while Sempra Texas Utilities experienced a notable increase in earnings due to higher equity earnings from Oncor Holdings. The company's balance sheet shows total assets of $113.5 billion as of March 31, 2026, with total liabilities, contingently redeemable noncontrolling interest, and equity reflecting a robust financial position. Cash flows from operations were strong at $1.81 billion, supporting significant investing activities, primarily in property, plant, and equipment across its segments. The company also managed its financing activities effectively, demonstrating access to capital markets. Key strategic initiatives include the planned sale of a portion of its equity interest in SI Partners and the sale of Ecogas, expected to close in the second or third quarter of 2026. These divestitures are part of Sempra's capital recycling program and are anticipated to strengthen the company's financial flexibility.
Key Highlights
- 1Sempra reported a year-over-year increase in diluted EPS from $1.39 to $1.58 for the first quarter.
- 2Sempra Infrastructure was the primary driver of earnings growth, with a $116 million increase in segment earnings.
- 3Total assets stood at $113.5 billion as of March 31, 2026, indicating substantial asset base.
- 4Cash flow from operating activities was robust at $1.81 billion for the quarter.
- 5Capital expenditures for property, plant, and equipment totaled $3.34 billion across all segments for the quarter.
- 6The company continues to progress on its strategic divestitures, including SI Partners and Ecogas, expected to close in Q2/Q3 2026.
- 7The company maintains a strong liquidity position with $970 million in unrestricted cash and cash equivalents and $8.03 billion in available unused credit for Sempra as of March 31, 2026.