Sempra Lifts 2026–2030 Investment Plan to $65 Billion as Earnings Top Forecasts
Management attributes weaker GAAP results to one-off regulatory and tax items, signaling confidence in a cleaner, growth-focused portfolio.
Overview
- Annual net income fell to $1.80 billion in 2025 from $2.82 billion in 2024, while revenue rose to $13.7 billion from $13.2 billion.
- Fourth-quarter 2025 net income declined to $352 million from $665 million a year earlier, with revenue essentially flat at $3.75 billion versus $3.76 billion.
- The company said one-time regulatory and tax expenses weighed on results, with higher earnings reported on an adjusted basis.
- Sempra increased its planned capital spending by $9 billion to a total of $65 billion for 2026 through 2030.
- Quarterly results beat Wall Street estimates and the stock gained about 2.2% in early trading as the CEO highlighted business simplification, better capital efficiency and a stronger balance sheet.