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Sempra (SRE) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Sempra (SRE) Q3 2026 earnings results →

Q3 2026 Revenue up 1% year over year to $3.2B · 28¢ of every $1 of revenue kept as net profit · operating margin 35.3%

Sempra made $3.2B in Q3 2026 (+1% Y/Y): Electric $1.6B, Gas $1.4B, Other revenues $161M. Operating margin 35.3%, net earnings $883M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.

Revenue$3.2B
Year over year+1%
Operating margin35.3%
Net earnings$883M
Operating cash flow$1.6B

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Sempra Q3 2026 revenue breakdown: Sankey diagram of revenue (Electric, Gas, Other revenues), costs, profit and cash flow
Sempra Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $3.2B in Q3 2026, up 1% year over year. Electric was the largest line at 51% of revenue. Electric added $0.40B year over year (up 33%), 1000% of the total change. Gas declined 8%.

Operating profit was $1.1B, a 35.3% margin (up 15.3 points year over year). Of the extra revenue versus Q3 2025, 1240% reached operating profit, above the 20% margin then. Total costs fell 18% while revenue rose 1%. Net earnings were $0.88B, up 829% year over year. The effective tax rate was 1.2%.

Operating cash flow was $1.6B (up 41% year over year), 140% of net income including minority interests. Non-cash charges added back $0.63B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.20B. Capital expenditures of $2.6B exceeded it, leaving free cash flow of −$1.1B.

Quarterly history

Sempra revenue by quarterSempra revenue by quarter$3.8BQ1 2025$3.0BQ2 2025$3.2BQ3 2025$3.7BQ4 2025$3.7BQ1 2026$3.0BQ2 2026$3.2BQ3 2026
Sempra net earnings by quarterSempra net earnings by quarter$917MQ1 2025$473MQ2 2025$95.0MQ3 2025$352MQ4 2025$1.0BQ1 2026$797MQ2 2026$883MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 5, 2026$3.2B+1%35.3%$883M$1.6B
Q2 202610-QAug 6, 2026$3.0B-0.1%35.2%$797M$1.3B
Q1 202610-QMay 7, 2026$3.7B-4%33.2%$1.0B$1.8B
Q4 202510-KFeb 26, 2026$3.7B-0.2%12.6%$352M$1.2B
Q3 202510-QNov 5, 2025$3.2B+14%20.1%$95.0M$1.1B
Q2 202510-QAug 7, 2025$3.0B-0.4%23.0%$473M$784M
Q1 202510-QMay 8, 2025$3.8B+4%25.7%$917M$1.5B

Charts

Sempra: revenue growth, year over year and quarter over quarterSempra: revenue growth, year over year and quarter over quarterY/YQ/Q+4%Q1 20250%-21%Q2 2025+14%+5%Q3 20250%+19%Q4 2025-4%-3%Q1 20260%-18%Q2 2026+1%+6%Q3 2026
Latest (Q3 2026): Y/Y +1%, Q/Q +6%.
Sempra: where the cash came from (+) and went (−), TTM to Q3 2026Sempra: where the cash came from (+) and went (−), TTM to Q3 2026Capital spending−$10.7BNet borrowing (+) / repaid (−)$6.7BOperating cash flow$5.9BOther investing−$2.1BDividends−$1.7BCash drawn (+) / kept (−)$921MOther financing$686MPartners$287MShares issued$43.0MBuybacks−$21.0MNot reconciled$3.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Sempra: profit against cash, quarter by quarterSempra: profit against cash, quarter by quarterNet incomeOperating cash flow$989M$1.4BQ4 2024$919M$1.5BQ1 2025$519M$784MQ2 2025$150M$1.1BQ3 2025$484M$1.2BQ4 2025$1.1B$1.8BQ1 2026$942M$1.3BQ2 2026$1.1B$1.6BQ3 2026
Latest (Q3 2026): Net income $1.1B, Operating cash flow $1.6B.
Sempra: diluted shares by fiscal year (split-adjusted)Sempra: diluted shares by fiscal year (split-adjusted)585MFY2020626MFY2021633MFY2022633MFY2023638MFY2024654MFY2025
+11.9% since FY2020: more shares outstanding (issuance, stock pay); earlier years scaled for the 2-for-1 split before FY2021.
Sempra: long-term debt falling due (FY2025)Sempra: long-term debt falling due (FY2025)$1.8B2026$1.4B2027$1.6B2028$500M2029$1.4B2030$23.1BLater
Cash $29.0M, short-term investments —, long-term debt — at 2025-12-31.
Sempra in its industry: growth against margin (5 companies, SIC 4932)Sempra in its industry: growth against margin (5 companies, SIC 4932)revenue growth, year over year →↑ operating marginmedian +4%median 0%UGICLNEOPALMNTKSRE (+1%, 35%)
Gas & Other Services Combined; dot size is quarterly revenue; dashed lines are the industry's medians.

In supply chains and themes

Power grid & electrification money flowPower grid & electrification · buyer

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About Sempra

We are a holding company whose principal businesses are regulated utilities in California and Texas. Our businesses invest in and operate electric and gas utilities and other energy infrastructure that provide energy services to customers. Sempra was formed in 1998 through a business combination of Enova Corporation and Pacific Enterprises, the holding companies of our regulated public utilities in California: SDG&E, which began operations in 1881, and SoCalGas, which began operations in 1867. We have since expanded our regulated public utility presence into Texas through our 80.25% interest in Oncor and 50% interest in Sharyland Utilities. Sempra Infrastructure’s assets include investments in the U.S. and Mexico with a focus on LNG, energy networks and low carbon solutions.

In its own words, from its 10-K, filed Feb 26, 2026.

Sempra against its Gas & Other Services Combined peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +1% against the peers' median +4%. Operating margin: 35.3% against the peers' median -0.1%.

CompanyQuarterRevenueY/YOp. margin
SRE SempraQ3 2026$3.2B+1%35.3%
UGI UGIQ3 FY26$1.3B-4%-3.3%
CLNE Clean Energy FuelsQ3 2026$112M+6%0.9%
OPAL Opal FuelsQ2 2026$83.4M+4%-3.6%
MNTK Montauk RenewablesQ2 2026$54.0M+20%-0.1%

Source: Sempra 10-Q on SEC EDGAR · CIK 1032208 · Gas & Other Services Combined

Guidance and outlook

Sempra: what its forward-looking statements are about (10-Q filed 2026-11-05)Sempra: what its forward-looking statements are about (10-Q filed 2026-11-05)Other17Capital spending11The economy4Demand4Supply chain1Deals1Legal & regulation1
39 statements; tone +0.03 (−1 all cautious, +1 all confident); 11 hedged.
Sempra: outlook statements against the filing beforeSempra: outlook statements against the filing beforeNew6Updated2Dropped2Confident6Cautious5

13F: who owns SRE and who is buying

Largest holders of SRE (13F)Largest holders of SRE (13F)Vanguard Group$6.8BBlackRock$5.6BWellington Management Group LLP$4.1BVanguard Capital Management LLC$4.0BState Street$3.5BVanguard Portfolio Management LLC$3.5BMorgan Stanley$2.3BFMR LLC$1.8BGeode Capital Management, LLC$1.5BCapital International Investors$1.3B
Funds' net buying of SRE by quarter (13F)Funds' net buying of SRE by quarter (13F)−$345M2024-09−$443M2024-12−$382M2025-03$1.4B2025-06$1.6B2025-09−$1.1B2025-12−$1.3B2026-03$145M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on SRE

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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