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Sempra
S&P 500
$54.1B
Market Cap
32.1
P/E
2.15
PEG
3.1%
ROCE
5.2%
ROE
0.79
D/E
22.5%
OPM
-13.9%
% from 52W High
40
α RS
🔍 SRE is showing a notable setup because it matches 2 of 37 tracked screener presets and Sector RRG has Utilities in the Improving quadrant with the trail still rolling over. Net: Partial signal stack, not a recommendation. ? Conviction RRG
Sources
Conviction 2/37 · Utilities in Improving quadrant
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🌏 Global Investor Returns
Currency-adjusted total returns for SRE including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Sempra engages in the regulated utilities business in the United States and Mexico.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding SRE
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 618.1K $60.1M 0.08% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Net Income
$796M
+72.7% YoY
GAAP EPS
$1.21
+70.4% YoY
Adjusted EPS
$1.16
+30.3% YoY
What Went Right
  • Q2 adjusted EPS of $1.16 vs $0.89 a year ago, with GAAP EPS of $1.21 vs $0.71; all three growth segments contributed positively.
  • Sempra Texas equity earnings jumped $138M on new base rates, UTM, higher invested capital and customer growth, including a ~$50M Q1 catch-up.
  • Oncor’s $47.5B base capital plan plus $10B of incremental opportunities are firming up, and 44 GW of Batch Zero load represents potential upside beyond the current plan.
What to Watch
  • ECA LNG Phase 1 substantial completion slipped to Q4 2026 after damage was discovered in the mixed refrigerant compressor equipment.
  • Texas political/regulatory scrutiny on 765 kV and Batch Zero is elevated; the PUCT meeting on August 20 is the next key event for the data center audit and process timing.
  • Moody’s Baa2 negative outlook remains; closing the SI Partners deal and meeting project milestones are needed to support a credit outlook improvement.
Management Guidance
  • Full-year 2026 adjusted EPS affirmed at $4.80-$5.30.
  • Full-year 2027 adjusted EPS affirmed at $5.10-$5.70, with long-term EPS growth of 7%-9%.
  • Oncor’s five-year plan update expected on the Q4 call; ECA LNG Phase 1 substantial completion expected in Q4 2026.
Investor Lens
The thesis is stronger after the quarter: adjusted EPS growth was double-digit, Oncor’s capital opportunity set is expanding, and the pending SI Partners transaction will simplify the story and deconsolidate ~$9B of debt. Batch Zero adds clear upside optionality, although the timing and quantum of related capital will not be quantified until later. Texas regulatory and political issues remain the key near-term swing factor, while California wildfire legislation remains unresolved. Overall, the 7%-9% long-term EPS growth framework stays intact.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Strong Q2: adjusted EPS $1.16, up 30% YoY, guidance affirmed.
Revenue
Consolidated revenue was not disclosed on the call. Earnings growth was led by Sempra Texas (+$138M), Sempra California (+$24M), and Sempra Infrastructure (+$26M).
Profitability
GAAP net income rose 73% to $796M, or $1.21 per share, from $461M or $0.71 per share a year ago. Adjusted net income was $762M, or $1.16 per share, versus $583M or $0.89 per share, with H1 adjusted EPS of $2.67 versus $2.34.
Margins
Operating margin was not discussed on the call.
Balance Sheet
Sempra expects to close the 45% SI Partners equity sale later in Q3, deconsolidating roughly $9B of debt. H1 capital expenditures were over $6B, and the Ecogas sale in Mexico remains on track for August. Management targets a 50-150bp cushion above credit thresholds, with Moody’s Baa2 negative outlook still in place.
Key Risks
ECA LNG Phase 1 has been delayed to Q4 2026 due to compressor equipment damage. Texas 765 kV permitting and Batch Zero timing face political uncertainty, including a data center verification audit. California wildfire legislation has no bill text yet, and the outcome remains uncertain.
Outlook
Full-year 2026 adjusted EPS guidance is affirmed at $4.80-$5.30, and 2027 at $5.10-$5.70, with long-term EPS growth of 7%-9%. Oncor’s updated five-year plan is expected on the Q4 call, and ECA LNG Phase 1 is expected to reach substantial completion in Q4 2026.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-06
Q2 2026 saw strong double-digit adjusted EPS growth, with all segments contributing positively and guidance reaffirmed. Major capital investments are focused on Texas, where electricity demand is surging, and key transactions are set to strengthen the balance sheet.
Q1 2026 Q1 2026 2026-05-07
Q1 2026 saw strong earnings growth, regulatory wins in Texas and California, and progress on LNG and wind projects. Affirmed EPS guidance and capital plan, with Texas as a key growth driver and proactive management of supply chain and legislative risks.
Q4 2025 Q4 2025 2026-02-26
Record adjusted EPS and robust cash flows in 2025 set the stage for a $65B capital plan focused on utility growth, especially in Texas, with strong long-term EPS guidance and no need for new equity issuances. Regulatory certainty and major transactions underpin the outlook.
Q3 2025 Q3 2025 2025-11-05
Third quarter adjusted EPS rose to $1.11, with strong year-to-date execution and full-year guidance affirmed. Major capital investments and a $10 billion asset sale are strengthening the balance sheet, while Texas and LNG growth drive a robust long-term outlook.
Q2 2025 Q2 2025 2025-08-07
Q2 2025 adjusted EPS was $0.89, matching last year, with full-year guidance affirmed. Major capital deployment continues, Oncor's Texas growth accelerates, and LNG projects advance. Regulatory and legislative changes in Texas and California support improved returns and risk profile.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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