European Investor
05 Nov 2025, 19:47
sempra q3 2025: adjusted eps up, oncor capex rising 30%+, si partners 45% sale advancing
Sempra reported Q3 2025 GAAP earnings of 77 million (0.12 per share) versus 638 million (1.00 per share) a year ago, largely reflecting tax items tied to classifying Sempra Infrastructure Partners and Ecogas as held for sale, while adjusted earnings rose to 728 million (1.11 per share) from 566 million (0.89 per share). Year-to-date GAAP earnings were 1.444 billion (2.21 per share) and adjusted earnings 2.253 billion (3.45 per share). The company advanced a deal to sell a 45% stake in Sempra Infrastructure Partners to KKR (expected close in Q2–Q3 2026) and said Oncor now expects more than a 30% increase in its 2026–2030 base capital plan from the prior 2025–2029 36 billion plan, citing heavy transmission and data-center demand in ERCOT.
Sempra Infrastructure reached FID on Port Arthur LNG Phase 2, now one of six major projects under way. Guidance was updated/affirmed: 2025 GAAP EPS 3.05–3.45 (adjusted 4.30–4.70) and 2026 EPS 4.80–5.30, with an outlook to the high end or above the 7–9% long-term EPS CAGR for 2025–2029.
Sempra reported Q3 2025 GAAP earnings of 77 million (0.12 per share) versus 638 million (1.00 per share) a year ago, largely reflecting tax items tied to classifying Sempra Infrastructure Partners and Ecogas as held for sale, while adjusted earnings rose to 728 million (1.11 per share) from 566 million (0.89 per share). Year-to-date GAAP earnings were 1.444 billion (2.21 per share) and adjusted earnings 2.253 billion (3.45 per share). The company advanced a deal to sell a 45% stake in Sempra Infrastructure Partners to KKR (expected close in Q2–Q3 2026) and said Oncor now expects more than a 30% increase in its 2026–2030 base capital plan from the prior 2025–2029 36 billion plan, citing heavy transmission and data-center demand in ERCOT.
Sempra Infrastructure reached FID on Port Arthur LNG Phase 2, now one of six major projects under way. Guidance was updated/affirmed: 2025 GAAP EPS 3.05–3.45 (adjusted 4.30–4.70) and 2026 EPS 4.80–5.30, with an outlook to the high end or above the 7–9% long-term EPS CAGR for 2025–2029.
