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SRE · Sempra

412 filings

8-K

SRE 8-K Current Reports

Sempra - 412 current reports

Filing record · 2016–202610-K1110-Q338-K216

SRE filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 216 current reports (8-K) between 2016 and 2026.

  1. Impairment8-K · Sep ’16Sep ’16
  2. Leadership change8-K · Dec ’18Dec ’18
  3. FY2020 annual report10-K · Feb ’21Feb ’21
  4. Leadership change8-K · Jun ’25Jun ’25
Showing 1-50 of 412 filings
8-K
Leadership ChangesOther Events

Sempra 8-K Report, Executive Changes (Nov 12, 2026)

Sempra Energy (SRE) has announced the completion of a significant transaction involving its Sempra Infrastructure Partners, LP ("SI Partners") subsidiary. On November 12, 2026, Sempra sold a 45% equity interest in SI Partners to entities affiliated with Kohlberg Kravis Roberts & Co. L.P. and Canada Pension Plan Investment Board (collectively, the "KKR Partners"). This sale generated immediate cash proceeds of $4.56 billion, with the remaining purchase price structured as promissory notes and other instruments totaling approximately $5.34 billion in principal, bearing interest at rates ranging from 7.5% to 10.0% and maturing between December 31, 2027, and February 11, 2034. This transaction results in Sempra deconsolidating SI Partners, effective immediately, and will account for its retained 25% interest under the equity method. Sempra anticipates recognizing a substantial pre-tax gain on the sale, estimated between $2.80 billion and $3.30 billion. The company also expects to incur approximately $450 million to $550 million in transaction-related costs. While preliminary, these figures indicate a significant financial event for Sempra. Additionally, the company announced a CFO transition, with Justin C. Bird appointed as Executive Vice President and Chief Financial Officer, effective November 13, 2026, succeeding Karen L. Sedgwick who will become CEO of Southern California Gas Company.

Nov 12, 20268-K
Earnings & ResultsExhibits & Filings

Sempra 8-K Report, Financial Results (Nov 5, 2026)

Sempra reported strong third-quarter and year-to-date results for 2026, demonstrating disciplined execution and progress on its value creation initiatives. The company's GAAP earnings for the third quarter were $877 million ($1.34 per diluted share), a significant increase from $77 million ($0.12 per diluted share) in the prior year. On an adjusted basis, third-quarter earnings were $917 million ($1.40 per diluted share), up from $728 million ($1.11 per diluted share) in Q3 2025. The company is updating its full-year 2026 GAAP EPS guidance to a range of $7.41 to $8.41 and guiding towards the high end of its adjusted EPS guidance range of $4.80 to $5.30. Key strategic moves include the expected completion of the sale of an equity stake in Sempra Infrastructure Partners, which is anticipated to strengthen the company's financial position and support growth in its Texas and California utilities. Sempra also announced an expected 20% increase to Oncor's base capital plan for 2027-2031, reflecting strong demand and investment opportunities in Texas. Despite a proposed regulatory decision in California that could impact 2027 earnings, Sempra remains focused on enhancing energy resilience and meeting increasing customer demand across its service territories.

Nov 5, 20268-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (Aug 21, 2026)

Sempra's indirect subsidiary, Southern California Gas Company (SoCalGas), has successfully closed a public offering of $500 million in 5.500% First Mortgage Bonds, Series GGG, due in 2036. This issuance, registered under a Form S-3 registration statement, will provide SoCalGas with capital, with net proceeds of approximately 98.755% of the principal amount after underwriting discounts, totaling roughly $493.78 million. The company anticipates additional offering expenses of about $1.1 million.

Aug 21, 20268-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (Aug 18, 2026)

Sempra's indirect subsidiary, Southern California Gas Company (SoCalGas), has entered into an underwriting agreement to issue and sell $500 million in aggregate principal amount of 5.500% First Mortgage Bonds, Series GGG, due 2036. The bonds will be offered at a public offering price of 99.405% of their principal amount in a registered public offering. This issuance is being conducted under an effective shelf registration statement, indicating that SoCalGas has previously established a framework for raising capital through public offerings. The proceeds from this bond sale are intended to fund various capital expenditures and general corporate purposes, aligning with Sempra's ongoing investment strategies in its utility operations and infrastructure.

Aug 18, 20268-K
Earnings & ResultsExhibits & Filings

Sempra 8-K Report, Financial Results (Aug 6, 2026)

Sempra (NYSE: SRE) reported second-quarter 2026 GAAP earnings attributable to common shares of $796 million, or $1.21 per diluted share, up from $461 million, or $0.71, in the second quarter of 2025. Adjusted earnings were $762 million, or $1.16 per diluted share, versus $583 million, or $0.89, a year earlier. For the first half, GAAP EPS was $2.80 and adjusted EPS was $2.67. The quarter's GAAP results were lifted by a $82 million net unrealized gain on commodity derivatives and a $20 million net tax benefit tied to assets held for sale, partly offset by a $71 million FX and inflation impact in Mexico. Segment earnings were led by Sempra Texas Utilities ($346 million, up from $208 million) and Sempra Infrastructure ($230 million, up from $72 million), while Sempra California was $297 million, up from $259 million. The company raised its full-year 2026 GAAP EPS guidance to $5.02-$5.55, while affirming adjusted EPS guidance of $4.80-$5.30 and 2027 adjusted EPS guidance of $5.10-$5.70, plus a 7%-9% long-term EPS growth target. The GAAP range is higher mainly because of expected gains on the sale of Ecogas and related items. Management highlighted a record five-year 2026-2030 capital plan of about $65 billion, with 95% directed to the Texas and California utilities. Oncor's new base rates took effect June 1, and ERCOT's large-load pipeline in Oncor's territory is about 44 GW. The planned sale of a 45% equity interest in Sempra Infrastructure Partners to KKR is expected to close in the third quarter of 2026, and the Ecogas sale is expected to close in August. Investors should note that the GAAP-to-adjusted gap is driven largely by derivative mark-to-market swings and Mexico currency effects, and the filing's forward-looking statements flag risks including California wildfire liability, regulatory outcomes, transaction execution, and credit access. Total debt rose meaningfully, with long-term debt up to $31.0 billion from $29.0 billion at year-end 2025, and cash flow from operations for the first half was $3.1 billion against $6.2 billion of capital expenditures for PP&E and investments.

Aug 6, 20268-K
Leadership Changes

Sempra 8-K Report, Executive Changes (Jul 9, 2026)

Sempra announced a significant leadership transition within its finance and operational arms. Effective around the closing of its planned sale of a portion of its equity interest in Sempra Infrastructure Partners, LP (expected in Q3 2026), Justin C. Bird will assume the role of Executive Vice President and Chief Financial Officer (CFO). Mr. Bird brings extensive experience within the Sempra family, having held senior leadership positions for over two decades, including his recent role as Executive Vice President and CEO of Sempra Infrastructure. Concurrently, Karen L. Sedgwick, the current CFO, will transition to lead Southern California Gas Company as its Chief Executive Officer and President. This strategic realignment positions experienced leadership within key segments of Sempra’s business. Investors should note that Mr. Bird’s compensation is not expected to change due to this appointment, and further details can be found in Sempra's 2026 Proxy Statement. The report also reiterates forward-looking statement disclaimers and risk factors, including those related to regulatory environments, project execution, capital markets, and operational disruptions.

Jul 9, 20268-K
Regulation FD

Sempra 8-K Report, Regulation FD Disclosure (Jun 16, 2026)

Sempra Energy (SRE) announced through its subsidiaries, San Diego Gas & Electric Company (SDG&E) and Southern California Gas Company (SoCalGas), that they have submitted their 2028 General Rate Case (GRC) applications to the California Public Utilities Commission (CPUC). These applications seek approval for test year revenue requirements for 2028 and attrition adjustments for 2029 through 2031. The requested revenue increases are intended to cover essential operating costs, regulatory compliance, and rising expenses such as insurance and employee healthcare. SDG&E has requested $3,760 million for the 2028 test year and attrition year adjustments of $327 million, $226 million, and $240 million for 2029, 2030, and 2031, respectively. SoCalGas is seeking $5,096 million for the 2028 test year and attrition year adjustments of $315 million, $312 million, and $314 million for 2029, 2030, and 2031, respectively. The CPUC's final decision could differ from these requests, with an expected proposed decision by the end of 2027 for rates effective in January 2028. Sempra also noted its intention to utilize a "Corporate Updates" webpage on its investor relations site for disclosing important information, supplementing its other communication channels.

Jun 16, 20268-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (Jun 9, 2026)

Sempra (SRE) announced the successful closing of its public offering and sale of $1 billion in Floating Rate Notes due 2028 on June 9, 2026. The net proceeds from this offering, after deducting underwriting discounts but before other expenses, are approximately $998.5 million. This debt issuance was registered under an effective shelf registration statement on Form S-3, indicating a well-established process for capital raising. The newly issued notes bear interest at a floating rate tied to Compounded SOFR plus a spread of 0.670% per annum. They mature on January 7, 2028, with quarterly interest payments commencing October 7, 2026. Notably, the notes are not redeemable by the company prior to maturity, providing investors with a fixed maturity date. This offering represents a strategic move by Sempra to access capital for its operations and growth initiatives.

Jun 9, 20268-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (May 15, 2026)

Sempra Energy's indirect subsidiary, Southern California Gas Company (SoCalGas), has successfully closed a public offering and sale of $650 million in First Mortgage Bonds, Series FFF, due 2056. These bonds carry a coupon rate of 5.900% and mature on June 1, 2056. The offering was registered under SoCalGas's Form S-3 registration statement, providing a clear framework for the issuance. This debt issuance is a significant event for SoCalGas, aimed at securing long-term financing for its operations and potential future projects.

May 15, 20268-K
Shareholder Matters

Sempra 8-K Report, Shareholder Vote Results (May 14, 2026)

Sempra (SRE) held its 2026 Annual Shareholders Meeting on May 12, 2026, with the results detailed in this 8-K filing. The meeting saw the re-election of all eleven director nominees with overwhelming support, indicating strong shareholder confidence in the current board's leadership and governance. Shareholders also overwhelmingly ratified the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for 2026, reinforcing established audit practices. Furthermore, the advisory vote on executive compensation received substantial approval, suggesting shareholders are generally satisfied with the company's compensation practices. However, a shareholder proposal requesting an independent board chairman was not approved, with a significant majority voting against it. This outcome highlights a divergence in opinion on board structure, with shareholders favoring the current approach.

May 14, 20268-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (May 12, 2026)

Sempra's indirect subsidiary, Southern California Gas Company (SoCalGas), announced on May 11, 2026, the issuance and sale of $650 million in aggregate principal amount of 5.900% First Mortgage Bonds, Series FFF, due 2056. These bonds are being offered at a public offering price of 99.536% of their principal amount. The offering is conducted as a registered public offering under an effective shelf registration statement on Form S-3 filed with the SEC. This debt issuance is a significant event for SoCalGas and, by extension, Sempra. The capital raised will likely be used to fund ongoing operations, infrastructure investments, or refinance existing debt. Investors should note the fixed interest rate of 5.900% and the long-term maturity of 2056, indicating a strategic move to secure long-term funding at a specific cost. The market's reaction to this offering, as reflected in the pricing, will be important to monitor.

May 12, 20268-K
Earnings & ResultsExhibits & Filings

Sempra 8-K Report, Financial Results (May 7, 2026)

Sempra (NYSE: SRE) reported first-quarter 2026 GAAP earnings of $1.04 billion, or $1.58 per diluted share, up from $906 million, or $1.39 per share, in the first quarter of 2025. Adjusted earnings were $991 million, or $1.51 per diluted share, compared with $942 million, or $1.44 per share, a year earlier. The GAAP increase was helped by a $35 million tax benefit tied to classifying SI Partners and Ecogas as held for sale, plus higher equity earnings from Sempra Infrastructure and Sempra Texas Utilities. Segment earnings from Sempra Infrastructure rose to $262 million from $146 million, while Sempra California was roughly flat at $720 million. Management updated its full-year 2026 GAAP EPS guidance to $4.87 to $5.37, while affirming adjusted EPS guidance of $4.80 to $5.30 and 2027 adjusted EPS guidance of $5.10 to $5.70. The company also reaffirmed a 7% to 9% long-term EPS growth rate. Key developments include a PUCT order adopting Oncor's base rate settlement, with an annual revenue requirement of about $6.97 billion, a 9.75% allowed ROE, and a 56.5% debt / 43.5% equity capital structure. Oncor will begin recognizing the accounting effects in the second quarter. The pending sales of a 45% stake in SI Partners to KKR-affiliated partners and of Ecogas are expected to close in the second or third quarter of 2026, with FERC, Hart-Scott-Rodino, and Mexican and Korean antitrust approvals already received for SI Partners. Balance-sheet and cash-flow metrics show operating cash flow of $1.81 billion, up from $1.48 billion, and capital expenditures of about $2.5 billion for property, plant and equipment plus $0.9 billion for investments. Long-term debt rose to $30.8 billion from $29.0 billion at year-end 2025, and short-term debt fell to $3.7 billion. Cash increased to $794 million from $29 million. Investors should weigh the strong earnings and guidance affirmation against the rising debt load and the reliance on completing the asset sales, whose tax and gain effects can still change before closing.

May 7, 20268-K
Regulation FD

Sempra 8-K Report, Regulation FD Disclosure (Apr 17, 2026)

This 8-K filing from Sempra (SRE) announces the final order from the Public Utility Commission of Texas (PUCT) regarding Oncor Electric Delivery Company LLC's ("Oncor") comprehensive base rate review. The PUCT approved a settlement, resulting in an annual revenue requirement increase for Oncor of approximately $560 million (8.7%), bringing the total to $6.97 billion. This rate adjustment is expected to positively impact Oncor's future earnings, cash flow, and credit metrics. The order also includes an updated regulatory capital structure, a slight increase in the authorized return on equity, and a higher self-insurance reserve for storm costs. Importantly, Oncor is permitted to surcharge for the period between January 1, 2026, and the effective date of new rates, with recovery expected during 2026, providing a near-term cash flow benefit.

Apr 17, 20268-K
Regulation FD

Sempra 8-K Report, Regulation FD Disclosure (Mar 26, 2026)

Sempra Energy (SRE) subsidiary San Diego Gas & Electric Company (SDG&E) has filed an unopposed offer of settlement with the Federal Energy Regulatory Commission (FERC) regarding its TO6 proceeding. This settlement proposes an increase in SDG&E's authorized base return on equity from 10.10% to 10.28% and establishes a hypothetical capital structure with 54% equity. This is a positive development as it provides clarity on future revenue generation for SDG&E's transmission operations. The terms of the settlement are subject to FERC approval, which is anticipated in the second half of 2026. If approved, these changes would be retroactively effective from June 1, 2025. Crucially, Sempra expects the financial impact of this settlement to fall within its previously announced 2026 and 2027 earnings-per-common-share (EPS) guidance ranges, indicating no negative surprise to near-term earnings expectations.

Mar 26, 20268-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (Mar 20, 2026)

This 8-K filing from Sempra Energy (SRE) reports on the closing of a public offering by its indirect subsidiary, San Diego Gas & Electric Company (SDG&E). SDG&E successfully issued and sold $625 million in 5.200% First Mortgage Bonds due 2036 (Series DDDD Bonds) and $475 million in 5.950% First Mortgage Bonds due 2056 (Series EEEE Bonds). The net proceeds, after deducting underwriting discounts and estimated offering expenses of $2.6 million, will be used by SDG&E to fund its operations and capital expenditures. This offering was registered under SDG&E's existing Form S-3 registration statement. For investors, this offering represents a significant debt issuance by a key subsidiary, aimed at strengthening its financial position and supporting future growth initiatives. The bonds have fixed interest rates and are secured by SDG&E's first mortgage liens, providing a level of security for bondholders. The maturity dates extend to 2036 and 2056, indicating long-term financing for the company. Investors should note the terms and conditions associated with these new bond issuances, as detailed in the supplemental indentures filed with this report.

Mar 20, 20268-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (Mar 17, 2026)

Sempra Energy's subsidiary, San Diego Gas & Electric Company (SDG&E), has announced the issuance and sale of $1.1 billion in aggregate principal amount of new first mortgage bonds. This offering includes $625 million of 5.200% Series DDDD Bonds due in 2036 and $475 million of 5.950% Series EEEE Bonds due in 2056. The issuance was conducted through an underwriting agreement with a syndicate of reputable financial institutions, including BofA Securities, Goldman Sachs, RBC Capital Markets, and Truist Securities. This debt financing is being carried out under SDG&E's existing shelf registration statement on Form S-3, indicating a planned capital raise. Investors should note the specific interest rates and maturity dates for each bond series, as well as the slight discount to par value at which they are being offered. The proceeds from this offering are intended to fund SDG&E's ongoing capital expenditures and general corporate purposes, which is typical for utility companies seeking to invest in infrastructure and maintain operations.

Mar 17, 20268-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (Mar 13, 2026)

Sempra (SRE) announced on March 13, 2026, the successful closing of a public offering and sale of $800 million in aggregate principal amount of 5.250% Notes due 2036. The net proceeds to the company, after deducting underwriting discounts but before estimated offering expenses of approximately $2.0 million, were approximately $793.4 million. This debt issuance was registered under the company's effective shelf registration statement on Form S-3. The newly issued notes carry a fixed annual interest rate of 5.250% and mature on March 15, 2036. Interest payments will be made semi-annually on March 15 and September 15, commencing September 15, 2026. The company retains the option to redeem these notes prior to maturity, subject to terms outlined in the associated documentation.

Mar 13, 20268-K
Earnings & ResultsExhibits & Filings

Sempra 8-K Report, Financial Results (Feb 26, 2026)

Sempra reported full-year 2025 GAAP earnings of $1.80 billion, or $2.75 per diluted share, down from $2.82 billion, or $4.42, in 2024. Adjusted earnings were $3.07 billion, or $4.69 per diluted share, up from $4.65. The GAAP decline was driven mainly by a $432 million after-tax charge from regulatory disallowances tied to the Track 2 final decision at Sempra California, and a $512 million full-year tax charge from classifying SI Partners and Ecogas as held for sale. Fourth-quarter GAAP earnings were $352 million, or $0.54 per diluted share, versus $665 million, or $1.04, a year earlier. Adjusted fourth-quarter earnings were $841 million, or $1.28 per share, versus $1.50. Management is positioning the company around a larger utility-focused plan. Sempra raised its five-year 2026 to 2030 capital plan to approximately $65 billion, up from $56 billion, with over 95% directed to regulated utilities in Texas and California. It also identified up to $9 billion of additional potential capex through 2030, mostly for Oncor's grid expansion. The company affirmed 2026 adjusted EPS guidance of $4.80 to $5.30, issued 2027 guidance of $5.10 to $5.70, and set a 2030 outlook of $6.70 to $7.50. The quarterly dividend was raised to $0.6575 per share, or $2.63 annualized. The portfolio is being reshaped through two asset sales. KKR affiliates will acquire a 45% equity stake in Sempra Infrastructure Partners for $10 billion, and SI Partners agreed to sell Ecogas Mexico for about $500 million. Both transactions are expected to close in the second or third quarter of 2026, subject to price adjustments, approvals and closing conditions. Investors should monitor execution risk on these deals, the regulatory outcome of the Track 2 decision, and the company's growing debt load, with short-term debt at $4.2 billion and operating cash flow of $4.6 billion against $10.6 billion of PP&E capex in 2025.

Feb 26, 20268-K
Regulation FD

Sempra 8-K Report, Regulation FD Disclosure (Jan 29, 2026)

Sempra Energy (SRE) announced via an 8-K filing on January 29, 2026, that its subsidiary, Oncor Electric Delivery Company LLC (Oncor), has reached a comprehensive settlement for its base rate review with the Public Utility Commission of Texas (PUCT) and other relevant parties. The proposed settlement, filed on the same day, aims to increase Oncor's annual revenue requirement by approximately 8.8%, or $560 million, bringing the total to $6.975 billion. This adjustment is a key development for investors as it signals a potential improvement in Oncor's financial performance and ability to fund operations and growth. The settlement also proposes adjustments to Oncor's regulatory capital structure, increasing the authorized return on equity (ROE) to 9.75% from 9.70% and the authorized cost of debt to 4.94% from 4.39%. Additionally, it includes an enhanced self-insurance reserve for storm costs and other self-insured losses. If approved by the PUCT, new rates are expected to be implemented after a final order in the first half of 2026, with potential back-billing to January 1, 2026. Sempra expects positive impacts on earnings, cash flow, and credit metrics.

Jan 29, 20268-K
Regulation FDExhibits & Filings

Sempra 8-K Report, Regulation FD Disclosure (Jan 21, 2026)

Sempra (NYSE: SRE) furnished an 8-K under Item 7.01 (Regulation FD) on January 21, 2026, attaching a media statement from its subsidiary Southern California Gas Company (SoCalGas) responding to cross-claims Southern California Edison filed on January 16, 2026 in the Eaton Fire litigation. The filing is informational: it discloses no new financial results, guidance, transaction terms, or quantified liability estimates, and the exhibit is furnished rather than filed. The substance is litigation positioning. SoCalGas says it will vigorously defend against Edison's effort to shift responsibility, defend how it operated its system during the emergency, and pursue recovery from Edison for damage to its own system through all available causes of action. It also states it holds insurance, including wildfire coverage, and intends to seek coverage both for its system damage and for defense costs tied to Edison's claims and to individual Palisades Fire lawsuits. For investors, the key takeaway is that wildfire-related liability exposure at SoCalGas remains open and multi-front, and the statement does not quantify potential damages or insurance recoveries. Investors should weigh this against the forward-looking-statement risk factors in the filing, which cite California wildfire liability (including potential liability regardless of fault and the risk of not recovering costs from insurance, the AB 1054 wildfire fund, and the SB 254 continuation account), CPUC and other regulatory decisions, and cost-recovery denials. Because the disclosure is a company press statement rather than a financial report, the most material near-term questions concern the size of potential claims, the adequacy of insurance, and how any unrecovered costs would be treated by regulators. None of these are answered in the filing.

Jan 21, 20268-K
Regulation FDOther EventsExhibits & Filings

Sempra 8-K Report, Regulation FD Disclosure (Dec 19, 2025)

Sempra (SRE) disclosed on December 19, 2025 that the CPUC approved a Final Decision (FD) in the 2026 Cost of Capital proceeding for SDG&E and SoCalGas, raising the authorized return on equity by 5 basis points versus the original proposed decision. All other terms of that proposed decision are unchanged. This is a modest positive for the California utilities' allowed returns. The more significant item is the Track 2 proposed decision in SDG&E's 2024 General Rate Case. The CPUC did not vote on it on December 18, 2025, leaving it pending. Sempra estimates it will produce a $471 million after-tax charge in Q4 2025, of which $34 million relates to the first three quarters of 2025 and $437 million relates to 2019-2024. SDG&E is pursuing regulatory avenues to improve the outcome, and the final amount depends on the timing and terms of the CPUC's final decision in 2026. As a result, Sempra lowered its GAAP full-year 2025 EPS guidance to $2.38-$2.78 from its prior range, reflecting the charge. It is guiding to the high end of its adjusted 2025 EPS range of $4.30-$4.70, and affirmed 2026 adjusted EPS guidance of $4.80-$5.30. Investors should weigh the one-time GAAP hit and the regulatory uncertainty around the Track 2 outcome against the affirmed forward earnings outlook.

Dec 19, 20258-K
Other Events

Sempra 8-K Report, Corporate Update (Nov 17, 2025)

Sempra Energy (SRE) has filed an 8-K report detailing proposed decisions from the California Public Utilities Commission (CPUC) concerning its subsidiaries, San Diego Gas & Electric Company (SDG&E) and Southern California Gas Company (SoCalGas). The report highlights two key areas: SDG&E's 2024 General Rate Case (GRC) Track 2 request and the 2026 Cost of Capital proceeding for both SDG&E and SoCalGas. The proposed decisions, while not final, indicate a significant reduction in the recovery of wildfire mitigation costs for SDG&E and a slightly lower authorized return on equity for both utilities compared to current rates. For SDG&E's GRC Track 2, the CPUC's proposed decision approves approximately $1.036 billion of the $1.472 billion requested for wildfire mitigation costs incurred from 2019-2022, with notable denials in operational and maintenance expenses. Furthermore, the proposed decision authorizes a lower total revenue requirement for ongoing capital-related costs from 2019-2027 than what SDG&E requested. In the Cost of Capital proceeding, the proposed decision maintains current capital structures but suggests a 35 basis point reduction in the authorized return on equity for both SDG&E and SoCalGas, effective 2026 through 2028. These proposed decisions are subject to public comment and a final vote by the CPUC. The outcomes could impact Sempra's subsidiaries' future revenue recovery and profitability. Investors should monitor the comment period and the final CPUC vote, scheduled for December 18, 2025, as these decisions will influence the financial performance of SDG&E and SoCalGas.

Nov 17, 20258-K
Earnings & ResultsExhibits & Filings

Sempra 8-K Report, Financial Results (Nov 5, 2025)

Sempra (SRE) reported third-quarter 2025 GAAP earnings of $77 million, or $0.12 per diluted share, down sharply from $638 million, or $1.00, a year earlier. The decline is driven largely by a $514 million after-tax income tax charge tied to classifying Sempra Infrastructure Partners (SI Partners) as held for sale, plus a $78 million charge from a foreign tax credit valuation allowance and a $32 million after-tax Mexico currency and inflation effect. Adjusted earnings rose to $728 million, or $1.11 per share, from $566 million, or $0.89, and nine-month adjusted EPS reached $3.45 versus $3.12. Segment results show Sempra California and Sempra Texas Utilities contributing steadily, while Sempra Infrastructure posted a $580 million third-quarter loss, largely due to the tax charge flowing through its results. Strategically, the quarter was dominated by the agreement to sell a 45% equity interest in SI Partners to affiliates of KKR, expected to close in Q2–Q3 2026 subject to approvals, and an ongoing sales process for Ecogas Mexico. Sempra also reached a final investment decision on Port Arthur LNG Phase 2, which is fully subscribed under 20-year offtake agreements. At Oncor, management expects a more than 30% increase in its 2026–2030 base capital plan over the prior $36 billion 2025–2029 plan, supported by strong load growth, including a large commercial and industrial interconnection queue up about 60% year over year. Management updated full-year 2025 GAAP EPS guidance to $3.05–$3.45 and affirmed adjusted EPS guidance of $4.30–$4.70, along with 2026 adjusted EPS guidance of $4.80–$5.30 and a 7%–9% long-term EPS growth target. For investors, the key takeaway is that the GAAP headline is distorted by non-cash, held-for-sale tax items, while underlying earnings and the capital-plan growth at Oncor remain the primary drivers of the investment case. The pending SI Partners sale and its eventual tax and accretion effects, along with Oncor's pending base rate case, are the principal items to monitor.

Nov 5, 20258-K
Regulation FDOther EventsExhibits & Filings

Sempra 8-K Report, Regulation FD Disclosure (Sep 23, 2025)

Sempra (SRE) has agreed to sell a 45% stake in Sempra Infrastructure Partners, plus all general partner interests, to affiliates of KKR and co-investor Canada Pension Plan Investment Board for an aggregate base purchase price of $9.99 billion. Following closing, the KKR Partners would hold 65% of the Class A Units. Cash at closing is $4.65 billion, with the remainder deferred through instruments due December 31, 2027 ($4.72 billion with interest) and promissory notes due about seven years after closing ($2.24 billion with interest). Sempra expects closing in Q2 or Q3 2026, subject to HSR, FERC, Mexican antitrust approvals and other conditions. The deal carries a 0.625% monthly ticking fee if closing slips past March 31, 2026, and a $414 million termination fee payable to Sempra if KKR fails to close when conditions are met. Sempra also expects a roughly $500 million income tax charge in Q3 2025 and will classify the business as held for sale, which will stop depreciation. Investors should note that Sempra is deferring a large share of the proceeds and must pay a $340 million development credit over two years, plus an estimated 20% of gross proceeds in cash taxes. Alongside the sale, Sempra Infrastructure Partners took final investment decision on the approximately 13 Mtpa second phase of the Port Arthur LNG project, with total estimated capex of about $14 billion. Blackstone-led investors acquired 49.9% of the project-level JVCo for $3.4 billion funded immediately plus $3.6 billion on a schedule. The JVCo Member, a Sempra Infrastructure Partners subsidiary, holds 50.1%, and Sempra Infrastructure Partners has committed up to $7.8 billion of capital contributions to the JVCo Member. Those commitments, along with lump-sum payment obligations if the project fails to meet deadlines, underperforms, or loses offtake, represent significant contingent exposure that management has not fully quantified in this filing. For investors, the transaction provides a substantial source of value and deleveraging capacity, but a large portion of value is deferred, depends on counterparty credit, and is subject to post-closing adjustments tied to wind facility performance and ECA LNG Phase 1 capex. The forward-looking statements section highlights counterparty risk, closing conditions, and tax and accounting uncertainty as key risks.

Sep 23, 20258-K
Other Events

Sempra 8-K Report, Corporate Update (Sep 19, 2025)

Sempra Energy (SRE) has filed an 8-K report detailing the enactment of California Senate Bill 254 (SB 254), also known as the 2025 Wildfire Legislation. This new law establishes a "Wildfire Fund Continuation Account" (Continuation Account) designed to provide an additional $18 billion in liquidity to cover catastrophic wildfire claims for large electric investor-owned utilities (IOUs) in California, including Sempra's subsidiary San Diego Gas & Electric (SDG&E), should the existing Wildfire Fund be depleted. The legislation preserves key protections from the 2019 Wildfire Legislation, such as cost recovery standards, liability caps, and access to liquidity. SDG&E intends to participate in the Continuation Account, which will be capitalized through a combination of ratepayer-backed bonds ($9 billion) and electric IOU shareholder contributions ($5.1 billion in fixed and contingent contributions through 2045). SDG&E's estimated shareholder contribution is $387 million. The Continuation Account will only apply to wildfires igniting after the legislation's effective date and has specific eligibility criteria for claims exceeding $1 billion or required insurance coverage. This development offers enhanced financial protection for Sempra's electric utility operations in California against potentially devastating wildfire liabilities.

Sep 19, 20258-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (Aug 29, 2025)

Sempra (SRE) has successfully closed a public offering and sale of $800 million in aggregate principal amount of its 6.375% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056. The net proceeds from this issuance, approximately $792 million after underwriting discounts, are intended to fund a portion of the redemption of its outstanding 4.875% Series C Preferred Stock, pending board approval. This strategic move signals a potential shift in Sempra's capital structure, likely aimed at optimizing its cost of capital or deleveraging specific equity tranches. The new notes carry a fixed-rate coupon of 6.375% until April 1, 2031, after which the rate will reset based on the Five-year U.S. Treasury Rate plus a spread of 2.632%, with a floor of 6.375%. The notes also feature optional interest payment deferral capabilities for Sempra and redemption options for the company. Investors should note the junior subordinated nature of these notes, which implies a higher risk profile compared to senior debt.

Aug 29, 20258-K
Earnings & ResultsExhibits & Filings

Sempra 8-K Report, Financial Results (Aug 7, 2025)

Sempra (NYSE: SRE) reported Q2 2025 GAAP earnings of $461 million, or $0.71 per diluted share, down from $713 million, or $1.12 per share, in Q2 2024. Adjusted earnings were $583 million, or $0.89 per share, flat with the prior year's $0.89. For the first half of 2025, GAAP EPS was $2.09 versus $2.38, and adjusted EPS was $2.34 versus $2.24, a 4.5% increase. The GAAP decline was driven mainly by a $97 million after-tax swing from Mexican foreign currency and inflation effects, a $26 million Mexican deferred tax charge tied to holding Ecogas for sale, and a $25 million COVID-related regulatory disallowance at Sempra California. Sempra Infrastructure's Q2 earnings fell sharply to $72 million from $291 million, which was the largest drag on segment results. Management updated full-year 2025 GAAP EPS guidance to $4.05 to $4.45 and affirmed adjusted EPS guidance of $4.30 to $4.70 and 2026 EPS guidance of $4.80 to $5.30. Management also affirmed a long-term EPS growth target of 7% to 9% through 2029. Sempra is advancing its capital recycling program, including a planned sale of an equity interest in Sempra Infrastructure Partners, where it signed a non-binding letter of intent with KKR, and the sale of Ecogas México. Both transactions are expected to close in 2Q or 3Q 2026. Balance sheet indicators point to rising leverage: long-term debt rose to $34.9 billion from $31.6 billion at year-end 2024, and cash fell to $155 million from $1.565 billion, reflecting heavy capital spending of $4.6 billion in the first half. Growth drivers include Oncor's new Texas tracker mechanism and pending base rate review, with a final order expected in Q1 2026, and Port Arthur LNG Phase 2, which received DOE non-FTA export authorization and has a financial investment decision targeted for 2025. Investors should weigh the earnings volatility from Mexican currency effects and the execution risk on the asset sales and LNG project against the company's sizable capital plan and dividend-supported utility base.

Aug 7, 20258-K
Regulation FD

Sempra 8-K Report, Regulation FD Disclosure (Jun 23, 2025)

Sempra (SRE) has filed an 8-K report detailing the enactment of Texas House Bill 5247 (HB 5247), which establishes a new "unified tracker mechanism" (UTM) for qualifying electric utilities. This UTM provides an alternative method for interim rate adjustments related to transmission and distribution (T&D) capital expenditures, streamlining cost recovery for eligible utilities. Oncor Electric Delivery Company LLC (Oncor), in which Sempra holds an 80.25% interest, is expected to qualify for and utilize this new mechanism. The UTM allows qualifying utilities to defer eligible T&D capital investment costs as a regulatory asset and mandates a review period by the Public Utility Commission of Texas (PUCT). Significantly, if the PUCT does not issue a final order within 165 days of filing, the utility can implement temporary rates, with any difference reconciled later. This is expected to improve Oncor's earnings, cash flows, and credit metrics, potentially enhancing earned annual returns on equity by 50 to 100 basis points.

Jun 23, 20258-K
Leadership Changes

Sempra 8-K Report, Executive Changes (Jun 23, 2025)

This 8-K filing from Sempra (SRE) primarily details significant leadership changes within its California utility operations and its corporate finance team, effective July 5, 2025. Caroline A. Winn, previously CEO of SDG&E, has been promoted to executive vice president overseeing both SoCalGas and SDG&E, and will also take on non-executive chairman roles for both utility boards. This move signifies a consolidation of leadership oversight for Sempra's key California energy infrastructure assets, aiming for enhanced strategic direction and operational synergy. Concurrently, Peter R. Wall is stepping down as Senior Vice President, Controller, and Chief Accounting Officer of Sempra, as well as a director of SoCalGas. Dyan Z. Wold, who has a long tenure within Sempra's finance and accounting functions, most recently at Sempra Infrastructure Partners, has been appointed as Sempra's new Vice President, Controller, and Chief Accounting Officer. Ms. Wold's compensation will be adjusted to $365,000 annually, with eligibility for other executive benefits. These changes are intended to support Sempra's ongoing strategic initiatives and financial stewardship.

Jun 23, 20258-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (May 16, 2025)

Sempra's indirect subsidiary, Southern California Gas Company (SoCalGas), has successfully closed a public offering of $1.1 billion in aggregate principal amount of first mortgage bonds. This issuance includes $600 million of 5.450% Series DDD Bonds due 2035 and $500 million of 6.000% Series EEE Bonds due 2055. The net proceeds from this offering, after deducting underwriting discounts but before other estimated expenses of $2.1 million, will be used by SoCalGas to fund its operations and general corporate purposes. The bonds were registered under SoCalGas's existing Form S-3 registration statement, indicating a routine financing activity for the company. This debt issuance is significant as it provides SoCalGas with long-term capital to support its infrastructure investments and operational needs. The differing interest rates and maturity dates for the two series of bonds offer flexibility in managing its debt profile and interest expense. Investors in these bonds are lending to a regulated utility subsidiary of a larger, established energy infrastructure company, with the bonds being secured by SoCalGas's mortgage property. The details regarding redemption options and specific terms are available in the filed supplemental indentures.

May 16, 20258-K
Shareholder Matters

Sempra 8-K Report, Shareholder Vote Results (May 15, 2025)

Sempra's 8-K filing from May 14, 2025, reports the outcomes of its 2025 Annual Shareholders Meeting held on May 13, 2025. The meeting saw strong shareholder support for the company's leadership and financial stewardship. All eleven director nominees were overwhelmingly elected, indicating confidence in the current board's direction and governance. Additionally, shareholders ratified the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for 2025, reinforcing the company's commitment to robust financial oversight and transparency. The advisory vote on executive compensation also passed with a significant majority, suggesting shareholder alignment with the company's compensation strategies. These results collectively point to a stable and supportive shareholder base for Sempra's ongoing operations and strategic initiatives.

May 15, 20258-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (May 13, 2025)

Sempra Energy's subsidiary, Southern California Gas Company, has announced the pricing of a significant debt offering totaling $1.1 billion. This offering consists of two tranches: $600 million in 5.450% First Mortgage Bonds, Series DDD, due 2035, and $500 million in 6.000% First Mortgage Bonds, Series EEE, due 2055. The bonds were issued at a slight discount to their principal amounts, indicating market conditions and the underwriters' pricing strategy. This debt issuance is being conducted under Sempra's existing shelf registration statement, suggesting a strategic move to raise capital for ongoing operations, infrastructure investments, or refinancing purposes. Investors should note that the specific use of proceeds is not detailed in this filing but is typically part of the broader prospectus. The successful placement of these bonds could impact Sempra's leverage ratios and overall capital structure.

May 13, 20258-K
Earnings & ResultsExhibits & Filings

Sempra 8-K Report, Financial Results (May 8, 2025)

Sempra (NYSE: SRE) reported first-quarter 2025 GAAP earnings of $906 million, or $1.39 per diluted share, up from $801 million, or $1.26, in the first quarter of 2024. Adjusted earnings were $942 million, or $1.44 per diluted share, versus $854 million, or $1.34, a year earlier. Segment results were led by Sempra California, which contributed $724 million, up from $582 million. Sempra Texas Utilities fell to $146 million from $183 million, and Sempra Infrastructure rose slightly to $146 million from $131 million. Consolidated revenue increased 4% to $3.8 billion, while interest expense rose sharply to $433 million from $305 million, and income tax expense dropped to $57 million from $172 million. Capital expenditures for property, plant and equipment reached $2.3 billion, compared with $1.9 billion a year earlier. Management lowered its full-year 2025 GAAP EPS guidance to $4.25–$4.65, reflecting first-quarter results, and affirmed its adjusted EPS guidance of $4.30–$4.70 and its 2026 EPS guidance of $4.80–$5.30. The company also reiterated a long-term EPS compound annual growth rate target of 7% to 9% for 2025 through 2029. Sempra announced it is targeting the sale of Ecogas México and a minority stake in Sempra Infrastructure Partners. Management expects these transactions to close over the next 12–18 months, to be accretive to EPS, and to enhance credit, but they remain subject to pricing, regulatory approvals, and definitive agreements. For investors, the key takeaways are solid utility-driven earnings growth, continued heavy capital spending funded partly by debt, and the pending asset sales as a lever for deleveraging and earnings accretion. Oncor's growing interconnection queue and the Permian Basin Reliability Plan, estimated at roughly $35 billion combined with the regional plan, support long-term rate base growth. Execution risks include regulatory outcomes in California and Texas, the timing and pricing of divestitures, and project delivery at Energía Costa Azul and Port Arthur LNG.

May 8, 20258-K
Other Events

Sempra 8-K Report, Corporate Update (Mar 31, 2025)

Sempra (SRE) announced on March 28, 2025, a strategic decision by its Board of Directors to initiate a divestiture process for two key assets: Ecogas México, S. de R.L. de C.V. ("Ecogas"), a regulated natural gas distribution utility in Mexico, and a portion of Sempra's 70% interest in Sempra Infrastructure Partners ("SI"), amounting to 15-30% of SI's total outstanding interests. This move signals a potential restructuring of Sempra's infrastructure segment, which comprises non-U.S. utility energy infrastructure assets. The process is expected to unfold over the next 12-18 months, subject to various conditions including regulatory approvals, definitive agreements, and satisfactory pricing.

Mar 31, 20258-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (Mar 28, 2025)

Sempra Energy (SRE) announced through its indirect subsidiary, San Diego Gas & Electric Company (SDG&E), the successful closing of a public offering and sale of $850 million in aggregate principal amount of 5.400% First Mortgage Bonds. These bonds mature in April 2035 and were issued under an indenture dated March 28, 2025. The net proceeds to SDG&E, after deducting underwriting discounts but before other offering expenses, were approximately 99.070% of the principal amount, totaling around $842.1 million. This debt issuance is a standard capital markets transaction to fund operations and growth initiatives. This event signals SDG&E's ongoing access to capital markets and its ability to secure debt financing at a stated interest rate of 5.400%. The funds raised are expected to support the company's capital expenditure programs and overall financial strategy. Investors should note that this is a debt issuance, increasing the company's leverage, but also providing necessary capital for infrastructure development and utility services. The terms of the bonds, including redemption provisions, are detailed in the supplemental indenture filed as an exhibit.

Mar 28, 20258-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (Mar 25, 2025)

Sempra Energy's indirect subsidiary, San Diego Gas & Electric Company (SDG&E), has entered into an underwriting agreement to issue and sell $850 million in 5.400% First Mortgage Bonds, Series CCCC, due in 2035. These bonds will be offered publicly at a price of 99.720% of their principal amount, representing a slight discount to par value. This debt issuance is being conducted under an effective shelf registration statement filed with the SEC. The offering is a standard part of capital management for utility companies, aimed at funding operations and potentially new projects. Investors should note that this is a debt offering by a subsidiary, and its proceeds will be used by SDG&E. The filing does not constitute an offer to sell or solicitation to buy, but rather provides notice of the agreement to issue and sell these securities.

Mar 25, 20258-K
Earnings & ResultsExhibits & Filings

Sempra 8-K Report, Financial Results (Feb 25, 2025)

Sempra (NYSE: SRE) reported full-year 2024 GAAP earnings of $2.82 billion, or $4.42 per diluted share, down from $3.03 billion, or $4.79, in 2023. Adjusted full-year 2024 earnings rose to $2.97 billion, or $4.65 per share, from $4.61 in 2023. Fourth-quarter GAAP earnings were $665 million, or $1.04 per share, versus $1.16 a year earlier, while adjusted Q4 earnings were $960 million, or $1.50 per share, up from $1.13. The GAAP decline was driven largely by a $330 million tax charge from a valuation allowance on foreign tax credits and a $104 million regulatory disallowance tied to a FERC order on the California ISO adder refund, both excluded from adjusted results. Management set a record five-year 2025-2029 capital plan of roughly $56 billion, up 16% from the prior plan, with over 90% directed to regulated utilities in Texas and California and over half earmarked for Texas. The company expects utility rate base to grow about 10% annually. Full-year 2025 EPS guidance was revised down to $4.30-$4.70, attributed to recent and planned regulatory matters and a higher-cost environment, while 2026 guidance was issued at $4.80-$5.30 and the long-term EPS growth target was raised to 7%-9%. Other catalysts include a targeted 2025 final investment decision on Port Arthur LNG Phase 2, supported by a non-binding offtake HOA, a proposed Saudi Aramco equity investment, and a fixed-price EPC contract with Bechtel. The quarterly common dividend increases to $0.645 per share, or $2.58 annualized, from $2.48. Investors should weigh the strong capital growth outlook against the near-term EPS guidance reset, persistent regulatory risk, and the balance-sheet expansion required to fund the plan, as long-term debt rose to about $31.6 billion from $27.8 billion.

Feb 25, 20258-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (Feb 20, 2025)

Sempra (SRE) has filed an 8-K to disclose an amendment to the Severance Pay Agreement for its Chief Executive Officer, Jeffrey W. Martin. The key change is the adjustment of his retirement age from 65 to 67. This amendment does not alter Mr. Martin's at-will employment status with Sempra and he does not have a formal employment agreement.

Feb 20, 20258-K
Leadership Changes

Sempra 8-K Report, Executive Changes (Feb 10, 2025)

Sempra (SRE) announced via an 8-K filing on February 10, 2025, two new appointments to its Board of Directors, effective March 1, 2025. Anya Weaving has been appointed and meets the criteria for an independent director, including being an audit committee financial expert, and will serve on the Audit Committee and Compensation and Talent Development Committee. Kevin C. Sagara has also been appointed to the Board, specifically to the Safety, Sustainability and Technology Committee. However, Mr. Sagara will not be considered an independent director due to his recent executive role at Sempra, having retired in December 2023. Both new directors will be compensated under Sempra's standard program for non-employee directors, as previously detailed in the company's 2024 Proxy Statement.

Feb 10, 20258-K
Other Events

Sempra 8-K Report, Corporate Update (Dec 23, 2024)

Sempra Energy (SRE) has filed an 8-K report detailing the final decision from the California Public Utilities Commission (CPUC) regarding the 2024 General Rate Case (GRC) for its subsidiaries, San Diego Gas & Electric Company (SDG&E) and Southern California Gas Company (SoCalGas). The decision authorizes significant increases in revenue requirements for both utilities for 2024 and subsequent attrition years through 2027. This includes substantial percentage increases over 2023 authorized revenues, partially offset by tax benefits being flowed through to customers. The filing also outlines various mechanisms for SDG&E and SoCalGas to seek recovery of additional costs related to safety, maintenance, and reliability projects, such as wildfire mitigation, pipeline safety, and infrastructure upgrades. These potential future cost recovery requests are not included in the authorized revenue requirements stated in the GRC decision and will be subject to further CPUC approval. Additionally, the report addresses a Federal Energy Regulatory Commission (FERC) ruling that impacts SDG&E's transmission operations, leading to a non-GAAP charge, and confirms the CPUC's decision to allow the Aliso Canyon natural gas storage facility to continue operating, deeming it necessary for regional reliability.

Dec 23, 20248-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (Nov 21, 2024)

Sempra (SRE) announced the successful closing of a public offering of $1 billion in aggregate principal amount of junior subordinated notes. This offering was split into two tranches: $400 million of 6.625% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055 (Non-Call 5) and $600 million of 6.550% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055 (Non-Call 10). The net proceeds from this offering, estimated at approximately $990 million after deducting underwriting discounts but before other expenses, will be utilized by the company. The notes feature reset rate provisions after their respective initial call protection periods, offering investors exposure to future interest rate environments. This issuance is a strategic move to bolster the company's capital structure.

Nov 21, 20248-K
Earnings & ResultsExhibits & Filings

Sempra 8-K Report, Financial Results (Nov 6, 2024)

Sempra (NYSE: SRE) reported third-quarter 2024 GAAP earnings of $638 million, or $1.00 per diluted share, versus $721 million, or $1.14, in the same period of 2023. Adjusted earnings were $566 million, or $0.89 per diluted share, compared with $685 million, or $1.08, a year earlier. The year-over-year decline was driven largely by a $67 million after-tax Mexico foreign currency and inflation impact (a gain excluded from adjusted results) and weaker results at Sempra California and Sempra Infrastructure. For the first nine months, GAAP EPS was $3.38 and adjusted EPS was $3.12, both below the prior-year levels of $3.63 and $3.48. Results do not yet reflect the pending California general rate case decision. Management updated full-year 2024 GAAP EPS guidance to $4.86–$5.16 to reflect actual results through the third quarter, and affirmed adjusted EPS guidance of $4.60–$4.90 and 2025 adjusted EPS guidance of $4.90–$5.25. It also affirmed a long-term EPS growth rate of roughly 6–8% and established a $3 billion at-the-market equity program to fund future financing needs. The most notable forward-looking development is at Oncor, where management now expects a 40–50% increase to its previously announced $24 billion five-year capital plan, with an update due on the February 2025 earnings call. Sempra California's proposed rate case decision, which would apply retroactively to January 1, is expected by year-end. Investors should weigh the strong growth outlook at Oncor and the LNG build-out at Sempra Infrastructure against near-term earnings pressure, regulatory uncertainty in California, and rising capital needs that will likely require continued equity and debt issuance. The filing is a furnished (not filed) 8-K under Item 2.02, so its contents are not incorporated into Sempra's other SEC filings.

Nov 6, 20248-K
Leadership Changes

Sempra 8-K Report, Executive Changes (Sep 13, 2024)

This 8-K filing from Sempra (SRE) announces the upcoming retirement of Trevor I. Mihalik, Executive Vice President and Group President, effective January 1, 2025. Mr. Mihalik will also step down from his roles as non-executive Chairman of the Board and a director of Southern California Gas Company (SoCalGas), a key subsidiary. This leadership transition will impact the executive team and the governance of SoCalGas, a significant operational segment for Sempra.

Sep 13, 20248-K
Leadership Changes

Sempra 8-K Report, Executive Changes (Sep 9, 2024)

Sempra Energy (SRE) filed an 8-K report on September 9, 2024, disclosing the resignation of Bethany J. Mayer as a director, effective September 5, 2024. This event marks a change in the company's board composition. While the filing does not provide specific reasons for Ms. Mayer's departure, it is a standard disclosure requirement for significant board-level changes. Investors should monitor future filings for any information regarding the replacement of Ms. Mayer on the board or any potential strategic implications stemming from this change.

Sep 9, 20248-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (Sep 9, 2024)

Sempra (SRE) has successfully closed a public offering and sale of $1.25 billion in aggregate principal amount of its 6.400% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2054. The net proceeds from this offering are approximately $1,238 million, after deducting underwriting discounts and before accounting for estimated offering expenses of $2.6 million. This issuance provides the company with significant capital, likely to support its ongoing investments in energy infrastructure and growth initiatives. The notes carry a fixed interest rate of 6.400% per annum until October 1, 2034. Following this period, the interest rate will reset every five years based on the Five-year U.S. Treasury Rate plus a spread of 2.632%. Notably, Sempra has the option to defer interest payments for up to 20 consecutive semi-annual periods, offering financial flexibility. The company also retains the option to redeem the notes under specific conditions, including a 90-day window prior to October 1, 2034, and on any interest payment date after that date, as well as upon the occurrence of certain specified events.

Sep 9, 20248-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (Aug 14, 2024)

Sempra Energy (SRE) reported through its indirect subsidiary, Southern California Gas Company (SoCalGas), the successful closing of a public offering and sale of $600 million aggregate principal amount of 5.050% First Mortgage Bonds. These bonds, Series CCC, are due in 2034 and were issued at a price of 98.864% of their principal amount, resulting in net proceeds of approximately $593.2 million before other offering expenses. The issuance was registered under SoCalGas's Form S-3 registration statement. This debt issuance represents a significant financing event for SoCalGas, which is expected to be used for general corporate purposes. Investors should note the fixed 5.050% interest rate and the maturity date of September 1, 2034. The ability for SoCalGas to redeem these bonds prior to maturity at its option is also a key term to consider. The proceeds will likely support SoCalGas's ongoing operations and infrastructure investments.

Aug 14, 20248-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (Aug 9, 2024)

Sempra Energy's indirect subsidiary, Southern California Gas Company (SoCalGas), has announced the issuance and sale of $600 million in aggregate principal amount of 5.050% First Mortgage Bonds, Series CCC, due 2034. These bonds are being offered at a public offering price of 99.514% of their principal amount in a registered public offering. This debt issuance is being conducted under an effective shelf registration statement on Form S-3 previously filed with the SEC. This move indicates SoCalGas's strategy to raise capital through debt financing to support its operations or future investments. Investors should note the specific interest rate and maturity date of these bonds. The filing details the underwriting agreement with Credit Agricole Securities (USA) Inc., MUFG Securities Americas Inc., RBC Capital Markets, LLC, and Truist Securities, Inc. as representatives of the underwriters. This debt issuance is a standard capital market activity and does not inherently signal a change in the company's fundamental financial health, but it does represent an increase in its leverage.

Aug 9, 20248-K
Earnings & ResultsExhibits & Filings

Sempra 8-K Report, Financial Results (Aug 6, 2024)

Sempra (NYSE: SRE) reported second-quarter 2024 GAAP earnings of $713 million, or $1.12 per diluted share, up from $603 million, or $0.95, a year earlier. Adjusted earnings were $567 million, or $0.89 per share, down from $594 million, or $0.94, in Q2 2023. For the first six months, GAAP earnings were $1.514 billion ($2.38 per share) versus $1.572 billion ($2.49) a year earlier, and adjusted earnings were $1.421 billion ($2.24 per share) versus $1.516 billion ($2.40). The GAAP increase in the quarter was driven mainly by a $152 million after-tax favorable impact from foreign currency and inflation on Mexico monetary positions, which is excluded from adjusted results. The underlying adjusted decline reflects weaker results at Sempra Infrastructure and Sempra California, partly offset by stronger Sempra Texas Utilities equity earnings. The company updated its full-year 2024 GAAP EPS guidance to $4.74 to $5.04, while affirming adjusted EPS guidance of $4.60 to $4.90 and 2025 adjusted EPS guidance of $4.90 to $5.25. It also reaffirmed its long-term EPS growth target of roughly 6% to 8%. Management highlighted a settlement in principle at Oncor on a nearly $3 billion System Resiliency Plan, which would add incremental capital beginning in Q4 2024 pending PUCT approval. Oncor's load growth pipeline also rose, with 814 interconnection requests in queue, up 13% year over year. Investors should weigh several items. The Energía Costa Azul LNG Phase 1 project is about 85% complete but faces labor and productivity challenges, with first LNG now expected in 2025 and commercial operations targeted for spring 2026. Port Arthur LNG Phase 2 advanced through a non-binding heads of agreement with an Aramco subsidiary and a fixed-price EPC contract with Bechtel. The California utilities' rate case decision is expected before year-end 2024, with rates retroactive to January 1, 2024. Quarterly capital expenditures were $2.09 billion, down from $2.55 billion, and short-term debt and current maturities of long-term debt rose meaningfully, which bears watching given the company's large capital program.

Aug 6, 20248-K
Leadership Changes

Sempra 8-K Report, Executive Changes (Jun 20, 2024)

Sempra (SRE) announced a significant addition to its Board of Directors, appointing Jennifer M. Kirk, effective June 20, 2024. Ms. Kirk brings valuable expertise, being designated as an independent director and an audit committee financial expert according to NYSE and SEC standards, respectively. This appointment enhances the Board's oversight capabilities, particularly in financial matters and governance.

Jun 20, 20248-K
Other EventsExhibits & Filings

Sempra 8-K Report, Corporate Update (May 31, 2024)

Sempra (SRE) announced on May 31, 2024, the successful closing of a public offering and sale of $500 million in aggregate principal amount of its 6.875% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2054. This issuance is an additional tranche that will form a single series with the previously issued $600 million of similar notes from March 2024. The company received approximately $490.2 million in net proceeds after underwriting discounts, which will be used for general corporate purposes. The notes carry a fixed interest rate of 6.875% until October 1, 2029, after which the rate will reset every five years based on the Five-year U.S. Treasury Rate plus a spread of 2.789%. A key feature of these junior subordinated notes is the company's option to defer interest payments for up to 20 consecutive semi-annual periods, subject to certain conditions. Sempra also retains the option to redeem the notes at par value under specific conditions, including after October 1, 2029, or upon certain specified events.

May 31, 2024
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