Description

Sempra Energy’s Hidden $10 Billion Texas Opportunity: Data Centers Or Hype?

Sempra Energy reported first quarter 2026 GAAP earnings of $1.037 billion, or $1.58 per diluted share, marking an increase from $906 million, or $1.39 per share, in the same period last year. Adjusted earnings reached $991 million, or $1.51 per share, compared to $942 million, or $1.44 per share, in the prior year. The financial results reflect progress toward the company’s 2026 initiatives, notably a $13 billion investment plan in transmission and distribution (T&D) energy infrastructure, with $3 billion deployed in the first quarter, supporting the targeted capital deployment for the year. Sempra’s regulated utility subsidiaries recorded key regulatory advances. Oncor, the Texas-based utility, secured approval from the Public Utility Commission of Texas (PUCT) for a base rate settlement, which increased the authorized equity layer to 43.5%, return on equity (ROE) to 9.75%, and cost of debt to 4.94%.