Sempra now says it is guiding to the high end of its 2026 adjusted EPS range of $4.80 to $5.30. That is management's own forecast, and it matters more than the quarter that preceded it. It also raised its full-year 2026 GAAP EPS range to $7.41 to $8.41.

Third-quarter EPS came in at $1.40, $0.16 better than expected. Revenue of $3.19B fell short of the $3.35B analysts expected.

The lift is confined to this year. Sempra affirmed its 2027 EPS range of $5.10 to $5.70 and its long-term EPS growth target of 7% to 9%. The guidance beyond 2026 has not moved.

The growth case rests on its utilities. Oncor, its Texas utility, projects that its base capital plan for 2027-2031 will be about 20% larger than the 2026-2030 plan. Chairman and CEO Jeffrey W. Martin said year-to-date results reflect disciplined execution. He said the company looks forward to completing the sale of a stake in Sempra Infrastructure Partners to support growth in its Texas and California utilities.

The sale of a 45% stake in Sempra Infrastructure Partners to KKR affiliates is expected to close within two weeks.

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