Filing Flows › Sempra (SRE) › Q2 2026 › vs Q1 2026
Sempra (SRE) Q2 2026 vs Q1 2026 (quarter over quarter)
Sempra's revenue fell $658M (-18%) from $3.7B in Q1 2026 to $3.0B in Q2 2026. The biggest changes: Gas −$607M (-29%); Other revenues −$29.0M (-13%); Electric −$22.0M (-2%). Operating margin 35.2% against 33.2% (+1.9 pts).
Sempra, Q2 2026: revenue $3.0B (-0.1% year over year), operating margin 35.2%, net earnings $797M, operating cash flow $1.3B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 35.2% | 33.2% | +1.9 pts |
| Net margin | 26.6% | 28.4% | -1.8 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Gas | $1.5B | $2.1B | −$607M | -29% |
| Electric | $1.3B | $1.3B | −$22.0M | -2% |
| Other revenues | $198M | $227M | −$29.0M | -13% |
| Revenue | $3.0B | $3.7B | −$658M | -18% |
| Operating profit | $1.1B | $1.2B | −$161M | -13% |
| Costs & expenses | $1.9B | $2.4B | −$497M | -20% |
| Pre-tax earnings | $1.1B | $1.2B | −$161M | -13% |
| Net earnings | $797M | $1.0B | −$240M | -23% |
| Minority interests | $145M | $113M | $32.0M | +28% |
| Income tax | $112M | $65.0M | $47.0M | +72% |
| Depreciation & amortization | $612M | $621M | −$9.0M | -1% |
| Share-based compensation | $19.0M | $25.0M | −$6.0M | -24% |
| Working capital & other | $120M | −$126M | $246M | — |
| Operating cash flow | $1.3B | $1.8B | −$501M | -28% |
| Capital expenditures | $2.2B | $2.5B | −$235M | -10% |
| Negative free cash flow (OCF − capex) | $918M | $652M | $266M | +41% |
Questions
How much did Sempra's revenue grow quarter over quarter in Q2 2026?
Sempra's revenue fell $658M (-18%) from $3.7B in Q1 2026 to $3.0B in Q2 2026.
What drove Sempra's revenue change in Q2 2026?
Gas −$607M (-29%); Other revenues −$29.0M (-13%); Electric −$22.0M (-2%).