SRE · Full Picture

SEMPRA — the full picture

Trailing window · 2026-05-11 to 2026-08-09

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

1. Segment Revenue Performance · Revenue growth & mixPriority 74
   +62.9% net_income (realized); 2 sources (news, press_release); quote_verified
   Oncor reported net income of $428 million for the three months ended June 30, 2026, compared to net income of $259 million for the three months ended June 30, 2025 (increase of $169 million).
2. Segment Earnings Performance · UnclassifiedPriority 68
   +151.2% net_income (realized); quote_verified
   Sempra California earnings attributable to common shares for the three months ended June 30, 2026: $297 million and for the six months ended June 30, 2026: $1,017 million.
3. Data Center / Load Growth · Demand, orders & backlogPriority 67
   2 sources (news, press_release); 1 forward row(s); quote_verified
   The referenced 44 GW of large-load requests would represent over 140% growth relative to Oncor’s current system peak load of 31 GW if fully realized.
4. Grid Modernization and Reliability · Supply chain & operationsPriority 62
   3 forward row(s); quote_verified
   ERCOT endorsed a series of high-voltage transmission projects expected to require more than $7 billion of incremental investment, supporting approximately 16 GW of new electric demand with anticipated in-service dates between 2026 and 2034.
5. Acquisition / Partnership / Divestiture · M&A and divestituresPriority 61
   2 sources (news, press_release); 3 forward row(s); quote_verified
   The transaction to sell a 45% equity interest in Sempra Infrastructure Partners to affiliates of KKR remains on track and is expected to close in the third quarter of 2026, subject to required approvals and customary closing conditions.
6. Regulated Capital Investment Plan · Capital expenditurePriority 61
   quote_verified
   Oncor expects to construct the majority of the endorsed ERCOT high-voltage transmission projects, which are subject to regulatory approval.
7. Guidance and Outlook · Guidance & outlookPriority 54
   +1.1% net_income; 2 sources (news, press_release); 4 forward row(s); quote_verified
   Sempra 2026 Adjusted EPS Guidance Range excludes a gain on sale of Ecogas ranging from approximately $165 million ($57 million after tax and NCI) to $205 million ($77 million after tax and NCI), which SI Partners expects to complete in August 2026.
8. Operating Cash Flow Trends · Cash flow generationPriority 52
   quote_verified
   Net cash provided by operating activities for the six months ended June 30, 2026: $3,117 million.
9. Capital Expenditure Program · Capital expenditurePriority 51
   -1.9% cash (realized); 2 sources (news, press_release); 5 forward row(s); quote_verified
   Sempra's record five-year 2026-2030 capital plan is approximately $65 billion, with 95% allocated to investments at its Texas and California utilities.
10. Capital Return Program · Buybacks & dividendsPriority 47
    2 sources (news, press_release); 2 forward row(s); quote_verified
    Sempra declared a quarterly dividend of $0.6575 per share.
11. Texas Data Center Load Freeze · UnclassifiedPriority 43
    1 forward row(s); quote_verified
    Oncor reported service requests increased to 298 GW and is assessing implications of a statewide freeze on new data center interconnection approvals in Texas affecting its nearly 300 GW load pipeline.
12. Rate Case Outcomes · Pricing & realizationPriority 42
    1 forward row(s); quote_verified
    Oncor’s new base rates became effective June 1, 2026.

Threads by pillar

Revenue & Demand Priority 80 · 4 threads

• Segment Revenue PerformancePriority 74 · News, Release
• Data Center / Load GrowthPriority 67 · News, Release
• Rate Case OutcomesPriority 42 · Release
• Geographic Market CommentaryPriority 35 · Release

Costs & Margins Priority 62 · 1 thread

• Grid Modernization and ReliabilityPriority 62 · Release

Capital & Balance Sheet Priority 71 · 5 threads

• Regulated Capital Investment PlanPriority 61 · Release
• Capital Expenditure ProgramPriority 51 · News, Release
• Operating Cash Flow TrendsPriority 52 · Release
• Capital Return ProgramPriority 47 · News, Release
• Income Tax Rate ChangesPriority 29 · Release

Strategy & Portfolio Priority 61 · 1 thread

• Acquisition / Partnership / DivestiturePriority 61 · News, Release

Legal, Regulatory & Policy Priority 37 · 1 thread

• Regulatory Approval MilestonesPriority 37 · Release

Guidance & Outlook Priority 54 · 1 thread

• Guidance and OutlookPriority 54 · News, Release

Macro & Market Conditions Priority 31 · 1 thread

• FX / Currency HeadwindsPriority 31 · Release

Unclassified Priority 76 · 5 threads

• Segment Earnings PerformancePriority 68 · Release
• Texas Data Center Load FreezePriority 43 · News
• Liquidity and Debt PositionPriority 40 · Release
• California Utility AffordabilityPriority 34 · News
• ECA LNG Project DelayPriority 33 · News

Expected impact by metric