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Sempra (SRE) guidance and outlook
Sempra (SRE) raised its guidance on Nov 5, 2026: EPS $7.41–$8.41 for FY2026; EPS $4.80–$5.30 for FY2026; EPS $5.10–$5.70 for FY2027; Capital expenditures +61% for FY2026. Sempra's 10-Q filed Nov 5, 2026 makes 39 forward-looking statements, 6 of them new and 2 no longer said since the filing before.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| EPS | FY2026 | $7.41–$8.41 | raised |
| EPS | FY2026 | $4.80–$5.30 | reaffirmed |
| EPS | FY2027 | $5.10–$5.70 | reaffirmed |
| Capital expenditures | FY2026 | +61% | reaffirmed |
From the earnings release filed Nov 5, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 5, 2026
- new · In the three months ended September 30, 2026 compared to the same period in 2025, Sempra’s earnings attributable to NCI increased by $176 million to $231 million primarily due to an increase in SI Partners subsidiaries’ net income driven by unrealized gains in 2026 compared to unrealized losses in 2025 from interest rate swaps related to the PA LNG Phase 1 project, a gain on the sale of Ecogas in August 2026,…
- Upon completion of the planned sale, which we expect to occur in November 2026, we will deconsolidate SI Partners and account for our remaining 25% interest under the equity method, which we expect will reduce volatility in our results of operations associated with foreign currency exchange rate fluctuations and Mexican inflation.
- We expect to complete the sale in November 2026, subject to closing conditions.
- We expect to meet our cash requirements primarily through:
- ▪ selling assets or equity interests in our subsidiaries or development projects, including the planned sale of a portion of our equity interest in SI Partners
- We believe that these cash flow sources, combined with available funds, will be adequate to fund our operations in both the short-term and long-term, including to:
- We expect that the requests for cost recovery of these projects and programs, which remain subject to CPUC approval, may result in additional amounts of authorized revenue requirement.
- new · For instance, Oncor’s capital expenditures plan from 2026 through 2030 and announced incremental capital expenditure opportunities within this period, that we describe below, include significant amounts attributable to STEP 765-kV transmission line projects, including the PBRP applications described above.
- We expect Sempra Infrastructure will require additional funding for the development and expansion of its portfolio of projects, which may be financed through a combination of funding from the parent and NCI owners, bank financing, issuances of debt, project financing, partnering in JVs and asset sales.
- Sempra Infrastructure is in various stages of development or construction of natural gas liquefaction projects, pipeline and terminal projects, and renewable power generation and sequestration projects, which we describe below.
- With respect to projects in development, these risks and uncertainties include a variety of factors as applicable depending on the project and many of which are outside our control, including any failure to:
- The descriptions below also discuss certain financing arrangements for several of Sempra Infrastructure’s projects in development and under construction; we discuss these and other financing arrangements related to these projects in more detail in Note 7 of the Notes to Condensed Consolidated Financial Statements in this report and the Notes to Consolidated Financial Statements in the Annual Report.
Sempra's latest quarter
Sempra, Q3 2026: revenue $3.2B (+1% year over year), operating margin 35.3%, net earnings $883M, operating cash flow $1.6B. The chart follows the revenue to costs, profit and cash.
Questions
Did Sempra raise or lower its guidance?
Sempra (SRE) raised its guidance on Nov 5, 2026: EPS $7.41–$8.41 for FY2026; EPS $4.80–$5.30 for FY2026; EPS $5.10–$5.70 for FY2027; Capital expenditures +61% for FY2026.
What does Sempra expect?
In the three months ended September 30, 2026 compared to the same period in 2025, Sempra’s earnings attributable to NCI increased by $176 million to $231 million primarily due to an increase in SI Partners subsidiaries’ net income driven by unrealized gains in 2026 compared to unrealized losses in 2025 from interest rate swaps related to the PA LNG Phase 1 project, a gain on the sale of Ecogas in August 2026,… For instance, Oncor’s capital expenditures plan from 2026 through 2030 and announced incremental capital expenditure opportunities within this period, that we describe below, include sig
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.