SAN DIEGO GAS & ELECTRIC CO 8K

Sempra reported higher first-quarter 2026 earnings, detailed major regulatory and capital plan developments in its Texas and California utility businesses, updated 2026 GAAP EPS guidance while affirming adjusted EPS and long-term growth targets, and provided a closing timetable update for planned Sempra Infrastructure Partners and Ecogas transactions.

On May 7, 2026, Sempra reported its first-quarter 2026 financial results, disclosing GAAP earnings of $1.037 billion, or $1.58 per diluted share, up from $906 million, or $1.39 per diluted share, in the prior-year quarter, and adjusted earnings of $991 million, or $1.51 per diluted share, versus $942 million, or $1.44 per diluted share, in 2025. The company highlighted approximately $3 billion of capital expenditures in the quarter as part of a record $65 billion 2026–2030 capital plan focused 95% on utilities in Texas and California, and noted a significant regulatory development in Texas where the Public Utility Commission of Texas approved Oncor’s base rate settlement, setting a $6.97 billion annual revenue requirement, a 56.5% debt/43.5% equity capital structure, a 9.75% authorized ROE, and a 4.94% cost of debt, with a surcharge mechanism retroactive to January 1, 2026. Sempra also described regulatory progress in California, including SoCalGas’s use of underground gas storage during Winter Storm Fern to mitigate customer energy costs and SDG&E’s uncontested settlement filing in its FERC TO6 transmission rate case, with a 10.28% ROE and a decision expected in the second half of 2026. Additionally, the company updated its full-year 2026 GAAP EPS guidance to a range of $4.87 to $5.37 reflecting first-quarter results, reaffirmed 2026 adjusted EPS guidance of $4.80 to $5.30 and 2027 EPS guidance of $5.10 to $5.70, reiterated a projected 7%–9% long-term EPS growth rate, and provided an update that previously announced transactions involving Sempra Infrastructure Partners and Ecogas México are expected to close in the second or third quarter of 2026 following receipt of several key regulatory and antitrust approvals.

Filing Facts

CIK

86521

Ticker

-

Form

8K

Source Type

sec

Accession

0001032208-26-000027

Alert Tier

7