Equity Profile

SRE

Sempra

UtilitiesMulti-Utilities$56.5B

May2Fri

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Sempra (SRE) is a utility company that operates in the multi-utilities sector, providing energy services to millions of customers. With a market cap of $57 billion, it plays a crucial role in the energy infrastructure, focusing on sustainable energy solutions and reliable service delivery.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health. Investors will look for growth compared to previous quarters.

$1.50

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is critical in the utility sector.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

SRE Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+4.49%

Avg Stock Reaction

-1.71%

Last Quarter Recap

In Q1-2026, Sempra reported an EPS of $1.51, slightly beating expectations. However, the stock reacted negatively, dropping 2.24% the following day.

Management Promises & Guidance

Continue focusing on sustainable energy initiatives.
Enhance customer service and reliability.
Invest in infrastructure improvements.

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about Sempra's upcoming earnings, particularly regarding EPS growth. However, there is uncertainty around revenue figures due to lack of guidance.

Bull Case

If Sempra can report strong EPS growth and positive customer growth, it could signal robust demand and operational efficiency, driving the stock higher.

Bear Case

On the other hand, if the company fails to meet EPS expectations or shows stagnation in customer growth, it could lead to a negative market reaction.

Key Metrics to Watch

Earnings Per Share (EPS)

$1.50

EPS is a key indicator of the company's profitability and financial health. Investors will look for growth compared to previous quarters.

Revenue Growth

N/A

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is critical in the utility sector.

Customer Growth

N/A

An increase in customer count indicates strong demand for Sempra's services and can signal future revenue growth.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

EPS is a critical measure of profitability and will heavily influence investor sentiment and stock performance.

How many new customers did Sempra acquire this quarter?

Customer growth is essential for future revenue and indicates the company's market position and demand for its services.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Sempra's ability to drive customer growth through new initiatives, which could lead to better-than-expected EPS.

Supporting Evidence

The company has a history of beating EPS estimates, with a 63% success rate.

Recent investments in infrastructure suggest potential for increased customer acquisition.

Options pricing indicates lower volatility expectations than historical averages, suggesting a potential upside surprise.

Key Risk

If customer growth exceeds expectations, it could significantly alter the earnings outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical as it will set the tone for investor confidence in Sempra's growth strategy and market position.

Bull Confirmed If

An EPS of $1.55 or higher would confirm strong operational performance and growth.

Bear Confirmed If

An EPS below $1.45 would raise concerns about profitability and growth prospects.

Pre-Earnings Positioning

Options Market

Implied Move

±3.2%

Historical Avg

±4.2%

Pricing cheap

The options market is pricing in a modest move of about 3.2%, suggesting that investors expect some volatility around the earnings report.

Options are pricing ±3.2% while SRE has averaged ±4.2% over the last 8 prints — setup is pricing cheap.

Detail

ATM IV

0.3%

30d HV

19.3%

Calls (9K)P/C Ratio: 0.11Puts (6K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Sempra beats expectations, history suggests a small positive reaction, confirming the company's growth narrative.

In-Line / Cautious

If results are in line with expectations, the stock may remain stable but could be influenced by management commentary.

Miss

A miss on EPS could lead to a significant drop, as history suggests an average decline of around 4.59% following such outcomes.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on customer acquisition strategies and results.
2Any updates on infrastructure investments and their expected impact.
3Management's outlook on energy market trends.
4Insights into operational efficiencies and cost management.
5Comments on regulatory changes and their implications for the business.

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health. Investors will look for growth compared to previous quarters.

$1.50

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is critical in the utility sector.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

SRE Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

+4.49%

Avg Stock Reaction

-1.71%

Last Quarter Recap

In Q1-2026, Sempra reported an EPS of $1.51, slightly beating expectations. However, the stock reacted negatively, dropping 2.24% the following day.

Management Promises & Guidance

Continue focusing on sustainable energy initiatives.
Enhance customer service and reliability.
Invest in infrastructure improvements.

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about Sempra's upcoming earnings, particularly regarding EPS growth. However, there is uncertainty around revenue figures due to lack of guidance.

Bull Case

If Sempra can report strong EPS growth and positive customer growth, it could signal robust demand and operational efficiency, driving the stock higher.

Bear Case

On the other hand, if the company fails to meet EPS expectations or shows stagnation in customer growth, it could lead to a negative market reaction.

Key Metrics to Watch

Earnings Per Share (EPS)

$1.50

EPS is a key indicator of the company's profitability and financial health. Investors will look for growth compared to previous quarters.

Revenue Growth

N/A

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is critical in the utility sector.

Customer Growth

N/A

An increase in customer count indicates strong demand for Sempra's services and can signal future revenue growth.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

EPS is a critical measure of profitability and will heavily influence investor sentiment and stock performance.

How many new customers did Sempra acquire this quarter?

Customer growth is essential for future revenue and indicates the company's market position and demand for its services.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Sempra's ability to drive customer growth through new initiatives, which could lead to better-than-expected EPS.

Supporting Evidence

The company has a history of beating EPS estimates, with a 63% success rate.

Recent investments in infrastructure suggest potential for increased customer acquisition.

Options pricing indicates lower volatility expectations than historical averages, suggesting a potential upside surprise.

Key Risk

If customer growth exceeds expectations, it could significantly alter the earnings outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is critical as it will set the tone for investor confidence in Sempra's growth strategy and market position.

Bull Confirmed If

An EPS of $1.55 or higher would confirm strong operational performance and growth.

Bear Confirmed If

An EPS below $1.45 would raise concerns about profitability and growth prospects.

Pre-Earnings Positioning

Options Market

Implied Move

±3.2%

Historical Avg

±4.2%

Pricing cheap

The options market is pricing in a modest move of about 3.2%, suggesting that investors expect some volatility around the earnings report.

Options are pricing ±3.2% while SRE has averaged ±4.2% over the last 8 prints — setup is pricing cheap.

Detail

ATM IV

0.3%

30d HV

19.3%

Calls (9K)P/C Ratio: 0.11Puts (6K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Sempra beats expectations, history suggests a small positive reaction, confirming the company's growth narrative.

In-Line / Cautious

If results are in line with expectations, the stock may remain stable but could be influenced by management commentary.

Miss

A miss on EPS could lead to a significant drop, as history suggests an average decline of around 4.59% following such outcomes.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on customer acquisition strategies and results.
2Any updates on infrastructure investments and their expected impact.
3Management's outlook on energy market trends.
4Insights into operational efficiencies and cost management.
5Comments on regulatory changes and their implications for the business.