Equity Profile

SRE

Sempra

UtilitiesMulti-Utilities$58.3B

May2Fri

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Sempra (SRE) operates in the utilities sector, focusing on energy infrastructure and services. The company plays a crucial role in delivering electricity and natural gas, making it significant in the ongoing transition to cleaner energy sources.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its operations and capture market share, which is vital in the competitive utilities 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 declined by 2.24% the following day, reflecting market concerns despite the positive surprise.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about Sempra's upcoming earnings, given its recent performance. However, there are concerns about revenue growth and customer acquisition.

Bull Case

If Sempra can demonstrate strong EPS growth and solid revenue figures, it could signal robust operational performance and investor confidence.

Bear Case

Conversely, if the company fails to meet expectations for EPS or revenue growth, it could lead to further stock declines, especially given recent market reactions.

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 any significant deviation from expectations could impact investor sentiment.

How is customer growth trending?

Customer growth is essential for revenue expansion, and insights into this metric will help gauge the company's market position.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may underestimate Sempra's ability to leverage its infrastructure investments for higher customer growth, which could lead to better-than-expected EPS.

Supporting Evidence

Sempra has a history of beating EPS estimates, suggesting potential for positive surprises.

Recent trends in energy demand may not be fully reflected in current analyst expectations.

Key Risk

If customer growth exceeds 5% this quarter, it could significantly alter the earnings outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on Sempra's ability to manage costs and grow its customer base amid market challenges.

Bull Confirmed If

An EPS of $1.60 or higher would confirm the bull case, suggesting strong operational performance.

Bear Confirmed If

An EPS below $1.40 would confirm the bear case, indicating potential issues in profitability.

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 announcement.

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 the stock could rise by around 0.01% on the first day, confirming positive market sentiment.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await further guidance.

Miss

A miss could lead to a decline of approximately 4.59% on the first day, reflecting negative investor sentiment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on infrastructure investments and their impact on future earnings.
2Insights into customer acquisition strategies and growth targets.
3Management's outlook on energy demand trends.
4Discussion on cost management and efficiency improvements.
5Any commentary on regulatory changes affecting the utilities sector.

See the full picture

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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, which investors closely monitor.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its operations and capture market share, which is vital in the competitive utilities 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 declined by 2.24% the following day, reflecting market concerns despite the positive surprise.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about Sempra's upcoming earnings, given its recent performance. However, there are concerns about revenue growth and customer acquisition.

Bull Case

If Sempra can demonstrate strong EPS growth and solid revenue figures, it could signal robust operational performance and investor confidence.

Bear Case

Conversely, if the company fails to meet expectations for EPS or revenue growth, it could lead to further stock declines, especially given recent market reactions.

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 any significant deviation from expectations could impact investor sentiment.

How is customer growth trending?

Customer growth is essential for revenue expansion, and insights into this metric will help gauge the company's market position.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may underestimate Sempra's ability to leverage its infrastructure investments for higher customer growth, which could lead to better-than-expected EPS.

Supporting Evidence

Sempra has a history of beating EPS estimates, suggesting potential for positive surprises.

Recent trends in energy demand may not be fully reflected in current analyst expectations.

Key Risk

If customer growth exceeds 5% this quarter, it could significantly alter the earnings outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on Sempra's ability to manage costs and grow its customer base amid market challenges.

Bull Confirmed If

An EPS of $1.60 or higher would confirm the bull case, suggesting strong operational performance.

Bear Confirmed If

An EPS below $1.40 would confirm the bear case, indicating potential issues in profitability.

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 announcement.

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 the stock could rise by around 0.01% on the first day, confirming positive market sentiment.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await further guidance.

Miss

A miss could lead to a decline of approximately 4.59% on the first day, reflecting negative investor sentiment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on infrastructure investments and their impact on future earnings.
2Insights into customer acquisition strategies and growth targets.
3Management's outlook on energy demand trends.
4Discussion on cost management and efficiency improvements.
5Any commentary on regulatory changes affecting the utilities sector.