• In early May 2026, Sempra reported first-quarter results showing revenue of US$3,655 million versus US$3,802 million a year earlier, while net income rose to US$1.04 billion from US$0.92 billion, and it updated 2026 GAAP EPS guidance to US$4.87–US$5.37 and reaffirmed 2027 EPS guidance of US$5.10–US$5.70.
• The company also highlighted a record US$65.00 billion capital plan through 2030, concentrating about 95% on regulated utilities in Texas and California as it continues simplifying its business around core utility operations.
• Next, we’ll examine how Sempra’s reaffirmed multi-year EPS guidance and US$65 billion utility capital plan influence its investment narrative.

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Sempra Investment Narrative Recap

To own Sempra, you need to be comfortable with a regulated-utility story that leans heavily on long-term capital spending in California and Texas. The latest quarter, with lower revenue but higher net income and updated 2026 guidance, supports that thesis but does not materially change the near term focus on executing the US$65.00 billion capital plan, or the key risk around future regulatory and policy shifts in those same states.

The most relevant update here is Sempra’s reaffirmed 2027 EPS guidance of US$5.10–US$5.70 alongside that record US$65.00 billion capital plan, about 95% earmarked for regulated utilities. For investors watching nearer term earnings as a catalyst, this pairing reinforces that management is still aligning its guidance with a utility centric model while gradually de-emphasizing infrastructure diversification.

Yet investors should be aware that potential changes to California and Texas regulation could...

Sempra's narrative projects $14.3 billion revenue and $3.9 billion earnings by 2029. This requires 1.3% yearly revenue growth and about a $2.1 billion earnings increase from $1.8 billion today.

Uncover how Sempra's forecasts yield a $104.29 fair value, a 12% upside to its current price.

Exploring Other Perspectives

Two fair value estimates from the Simply Wall St Community range widely, from about US$22.40 up to roughly US$104.30 per share, showing how far apart opinions can be. Against that backdrop, Sempra’s reaffirmed multi year EPS guidance and heavy US$65.00 billion utility capital commitment raise important questions about how regulatory risk might shape future returns, so it is worth exploring several viewpoints before deciding where you stand.

Explore 2 other fair value estimates on Sempra - why the stock might be worth as much as 12% more than the current price!

Form Your Own Verdict

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your Sempra research is our analysis highlighting 1 key reward and 3 important warning signs that could impact your investment decision.
• Our free Sempra research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Sempra's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.