Sempra Energy Beats Q4 Earnings Estimates, Raises Long-Term Outlook

Utility provider boosts five-year capital plan by 16% to accelerate grid modernization and infrastructure investment

Feb. 26, 2026 at 7:23pm

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Sempra Energy, a San Diego-based energy infrastructure company, reported stronger-than-expected fourth-quarter earnings and issued an upbeat long-term outlook. The company beat analysts' consensus estimates by $0.16, reporting $1.28 in earnings per share for the quarter. However, revenue of $3.75 billion missed the $3.82 billion forecast. Sempra also raised its five-year capital plan by 16% to $65 billion, with around 95% of the spending targeted towards its regulated utility businesses.

Why it matters

Sempra's earnings beat and raised long-term guidance signal higher earnings power and support potential upside to the company's valuation. The increased capital spending plan also suggests the utility is accelerating investments in grid modernization and infrastructure, which can drive future regulated returns and earnings growth. However, the wide range in Sempra's multi-year guidance leaves some near-term uncertainty about the pace of earnings growth.

The details

Sempra reported $1.28 in earnings per share for the fourth quarter, topping the $1.12 consensus estimate. The company's revenue of $3.75 billion fell short of the $3.82 billion expected by analysts. Sempra also raised its five-year capital plan by 16% to $65 billion, with approximately 95% of the spending targeted towards its regulated utility businesses. Management issued a 2030 EPS outlook of $6.70-$7.50, reinforcing the company's high-growth, regulated utility strategy. Sempra expects to close the sale of a 45% stake in Sempra Infrastructure Partners for $10 billion in the second or third quarter of 2026, which will help strengthen its balance sheet.

  • Sempra reported its Q4 2025 earnings results on Thursday, February 26, 2026.
  • Sempra expects to close the sale of a 45% stake in Sempra Infrastructure Partners for $10 billion in Q2-Q3 2026.

The players

Sempra Energy

A San Diego-based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas.

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