We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Sempra's Q3 2026 adjusted EPS rose 26.1% to $1.40, beating estimates by 16.7%.
Sempra Texas Utilities earnings climbed to $460 million, driven by higher Oncor equity earnings.
Sempra raised 2026 GAAP EPS guidance to $7.41-$8.41 and maintained long-term EPS growth targets of 7-9%.
Sempra (SRE - Free Report) reported third-quarter 2026 adjusted earnings per share (EPS) of $1.40, which beat the Zacks Consensus Estimate of $1.20 by 16.7%. The bottom line increased 26.1% from the year-ago quarter’s figure of $1.11. Higher equity earnings from Oncor and improved infrastructure earnings supported the results.
Including one-time items, the company generated GAAP earnings of $1.34 per share compared with 12 cents in the third quarter of 2025. Oncor's system peak electricity demand reached a record 33.3 gigawatts (GW), reflecting growing electricity requirements across Texas.
SRE’s Total Revenues
Revenues of $3.19 billion missed the Zacks Consensus Estimate of $3.35 billion by 4.8%. However, the top line increased 1.3% from $3.15 billion in the year-ago quarter.
Sempra California: Adjusted earnings increased marginally to $372 million from $370 million. Higher California Public Utilities Commission base operating margin and electric transmission margin supported performance.
Sempra Texas Utilities: Earnings increased to $460 million from $306 million in the year-ago quarter. The improvement was primarily driven by higher equity earnings from Oncor Holdings, supported by new base rates implemented in June 2026, increased revenues from regulatory mechanisms and higher customer consumption. Higher interest expenses, depreciation and operation and maintenance expenses partially offset the gains.
Sempra Infrastructure: Adjusted earnings increased to $237 million from $184 million. Lower depreciation expenses, reduced operating costs and higher net interest income supported performance.
Parent and Other: The segment reported an adjusted loss of $152 million, wider than the prior-year period's adjusted loss of $132 million. The wider loss primarily reflected lower tax benefits and unfavorable investment performance, partially offset by lower preferred dividends.
SRE's Operational Highlights
Oncor's record electricity demand increased 6% from the prior-year peak of 31.4 GW. The company also received regulatory approval for both segments of Import Path 1 under the Permian Basin Reliability Plan, subject to rehearing motions and appeals.
In California, San Diego Gas & Electric recorded peak electricity demand of 5.2 GW. Meanwhile, Sempra continued modernization projects at its California utilities, including compressor station upgrades and improvements to customer information systems.
SRE’s Financial Update
As of Sept. 30, 2026, Sempra's cash and cash equivalents totaled $34 million compared with $29 million as of Dec. 31, 2025.
As of the same date, long-term debt and finance leases amounted to $31.51 billion compared with $28.98 billion at the end of 2025.
Cash flow from operating activities in the first nine months of 2026 totaled $4.68 billion compared with $3.38 billion in the year-ago period.
SRE’s Guidance
The company expects 2026 adjusted earnings to be in the range of $4.80-$5.30 per share. The Zacks Consensus Estimate for 2026 earnings is pegged at $5.14 per share, higher than the midpoint of the company’s guided range.
Sempra raised its full-year 2026 GAAP EPS guidance to $7.41-$8.41 and reaffirmed its 2027 EPS guidance of $5.10-$5.70. The company also maintained its long-term EPS growth rate projection of 7-9%.
Energy Transfer (ET - Free Report) reported third-quarter 2026 earnings of 33 cents per share, missing the Zacks Consensus Estimate of 41 cents by 19.5%. However, the bottom line increased 17.9% from 28 cents in the year-ago quarter.
ET’s revenues totaled $37.1 billion, surpassing the consensus estimate of $35.6 billion by 4.2% and increasing 85.9% year over year.
TotalEnergies SE (TTE - Free Report) reported third-quarter 2026 operating earnings of $4.03 (€3.50) per share, which lagged the Zacks Consensus Estimate of $4.11 by 1.95%. The bottom line improved 127.7% from the year-ago figure of $1.77 (€1.50).
TTE’s total revenues were $66.82 billion, up 37.2% year over year, surpassing the Zacks Consensus Estimate of $53.72 billion by 24.39%. Strong refining margins and higher gas prices supported results.
ONEOK, Inc. (OKE - Free Report) reported third-quarter 2026 earnings of $2.13 per share, which beat the Zacks Consensus Estimate of $1.46 by 45.89%. The bottom line increased 43% from the year-ago quarter's figure of $1.49.
OKE's operating revenues for the third quarter totaled $12.46 billion, which beat the Zacks Consensus Estimate of $11.77 billion by 5.81%. The top line improved 44.3% from $8.63 billion in the prior-year quarter.
View the Zacks #1 Rank List
Image: Bigstock
Sempra's Q3 Earnings Outpace Estimates, Revenues Increase Y/Y
Key Takeaways
Sempra (SRE - Free Report) reported third-quarter 2026 adjusted earnings per share (EPS) of $1.40, which beat the Zacks Consensus Estimate of $1.20 by 16.7%. The bottom line increased 26.1% from the year-ago quarter’s figure of $1.11. Higher equity earnings from Oncor and improved infrastructure earnings supported the results.
Including one-time items, the company generated GAAP earnings of $1.34 per share compared with 12 cents in the third quarter of 2025. Oncor's system peak electricity demand reached a record 33.3 gigawatts (GW), reflecting growing electricity requirements across Texas.
SRE’s Total Revenues
Revenues of $3.19 billion missed the Zacks Consensus Estimate of $3.35 billion by 4.8%. However, the top line increased 1.3% from $3.15 billion in the year-ago quarter.
Sempra Price, Consensus and EPS Surprise
Sempra price-consensus-eps-surprise-chart | Sempra Quote
SRE’s Segmental Update
Sempra California: Adjusted earnings increased marginally to $372 million from $370 million. Higher California Public Utilities Commission base operating margin and electric transmission margin supported performance.
Sempra Texas Utilities: Earnings increased to $460 million from $306 million in the year-ago quarter. The improvement was primarily driven by higher equity earnings from Oncor Holdings, supported by new base rates implemented in June 2026, increased revenues from regulatory mechanisms and higher customer consumption. Higher interest expenses, depreciation and operation and maintenance expenses partially offset the gains.
Sempra Infrastructure: Adjusted earnings increased to $237 million from $184 million. Lower depreciation expenses, reduced operating costs and higher net interest income supported performance.
Parent and Other: The segment reported an adjusted loss of $152 million, wider than the prior-year period's adjusted loss of $132 million. The wider loss primarily reflected lower tax benefits and unfavorable investment performance, partially offset by lower preferred dividends.
SRE's Operational Highlights
Oncor's record electricity demand increased 6% from the prior-year peak of 31.4 GW. The company also received regulatory approval for both segments of Import Path 1 under the Permian Basin Reliability Plan, subject to rehearing motions and appeals.
In California, San Diego Gas & Electric recorded peak electricity demand of 5.2 GW. Meanwhile, Sempra continued modernization projects at its California utilities, including compressor station upgrades and improvements to customer information systems.
SRE’s Financial Update
As of Sept. 30, 2026, Sempra's cash and cash equivalents totaled $34 million compared with $29 million as of Dec. 31, 2025.
As of the same date, long-term debt and finance leases amounted to $31.51 billion compared with $28.98 billion at the end of 2025.
Cash flow from operating activities in the first nine months of 2026 totaled $4.68 billion compared with $3.38 billion in the year-ago period.
SRE’s Guidance
The company expects 2026 adjusted earnings to be in the range of $4.80-$5.30 per share. The Zacks Consensus Estimate for 2026 earnings is pegged at $5.14 per share, higher than the midpoint of the company’s guided range.
Sempra raised its full-year 2026 GAAP EPS guidance to $7.41-$8.41 and reaffirmed its 2027 EPS guidance of $5.10-$5.70. The company also maintained its long-term EPS growth rate projection of 7-9%.
SRE’s Zacks Rank
Sempra Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
Energy Transfer (ET - Free Report) reported third-quarter 2026 earnings of 33 cents per share, missing the Zacks Consensus Estimate of 41 cents by 19.5%. However, the bottom line increased 17.9% from 28 cents in the year-ago quarter.
ET’s revenues totaled $37.1 billion, surpassing the consensus estimate of $35.6 billion by 4.2% and increasing 85.9% year over year.
TotalEnergies SE (TTE - Free Report) reported third-quarter 2026 operating earnings of $4.03 (€3.50) per share, which lagged the Zacks Consensus Estimate of $4.11 by 1.95%. The bottom line improved 127.7% from the year-ago figure of $1.77 (€1.50).
TTE’s total revenues were $66.82 billion, up 37.2% year over year, surpassing the Zacks Consensus Estimate of $53.72 billion by 24.39%. Strong refining margins and higher gas prices supported results.
ONEOK, Inc. (OKE - Free Report) reported third-quarter 2026 earnings of $2.13 per share, which beat the Zacks Consensus Estimate of $1.46 by 45.89%. The bottom line increased 43% from the year-ago quarter's figure of $1.49.
OKE's operating revenues for the third quarter totaled $12.46 billion, which beat the Zacks Consensus Estimate of $11.77 billion by 5.81%. The top line improved 44.3% from $8.63 billion in the prior-year quarter.