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 provides energy services, including electricity and natural gas, primarily in the United States and Mexico. As a major player in the utilities sector, Sempra is crucial for energy infrastructure and sustainability efforts, especially as the world shifts toward cleaner energy sources.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and is closely watched by investors.

$1.50

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is vital for long-term success.

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 experienced a decline of 2.24% the following day, indicating mixed investor sentiment.

Management Promises & Guidance

Focus on enhancing operational efficiency.
Commitment to sustainable energy initiatives.
Plans to expand customer service capabilities.

Expectations

Wall Street Expectations

Investors are cautiously optimistic about Sempra's upcoming earnings, particularly given its recent EPS beats. However, concerns about revenue growth and customer retention remain prevalent.

Bull Case

If Sempra continues its trend of beating EPS estimates and shows strong revenue growth, it could signal robust operational performance and investor confidence.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could lead to a decline in stock price, especially given the recent mixed reactions to earnings.

Key Metrics to Watch

Earnings Per Share (EPS)

$1.50

EPS is a key indicator of the company's profitability and is closely watched by investors.

Revenue Growth

N/A

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is vital for long-term success.

Customer Count

N/A

An increase in customer count indicates growing demand for services, which can lead to higher revenues.

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 a significant deviation from expectations could impact investor sentiment.

How many new customers has Sempra added this quarter?

Customer growth is essential for revenue expansion, and insights here could indicate the company's market position and future performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Sempra's potential for customer growth, especially in emerging markets where energy demand is rising.

Supporting Evidence

Recent operational improvements may not be fully reflected in analyst expectations.

Sempra's commitment to sustainable energy could attract new customers, enhancing growth prospects.

Options pricing suggests limited volatility, which may not account for potential upside surprises.

Key Risk

If customer growth exceeds expectations, it could significantly alter the market's perception of Sempra's future.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on Sempra's ability to sustain earnings growth and attract new customers in a competitive market.

Bull Confirmed If

An EPS of $1.55 or higher would confirm strong profitability and investor confidence.

Bear Confirmed If

An EPS below $1.45 would raise concerns about profitability and could lead to a negative market reaction.

Pre-Earnings Positioning

Options Market

Implied Move

±3.2%

Historical Avg

±4.2%

Pricing cheap

The options market is pricing in a relatively modest move of 3.2%, suggesting that investors expect limited 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 a modest positive reaction, potentially confirming the company's operational strength.

In-Line / Cautious

If results are in line with expectations, the stock may see limited movement, reflecting cautious investor sentiment.

Miss

A miss could lead to a decline in stock price, with history suggesting an average drop of around 4.59% following earnings misses.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on customer acquisition strategies and results.
2Updates on sustainability initiatives and their impact on growth.
3Any changes in operational efficiency metrics.
4Insights into regulatory changes affecting the utilities sector.
5Management's outlook on future revenue growth.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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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 is closely watched by investors.

$1.50

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is vital for long-term success.

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 experienced a decline of 2.24% the following day, indicating mixed investor sentiment.

Management Promises & Guidance

Focus on enhancing operational efficiency.
Commitment to sustainable energy initiatives.
Plans to expand customer service capabilities.

Expectations

Wall Street Expectations

Investors are cautiously optimistic about Sempra's upcoming earnings, particularly given its recent EPS beats. However, concerns about revenue growth and customer retention remain prevalent.

Bull Case

If Sempra continues its trend of beating EPS estimates and shows strong revenue growth, it could signal robust operational performance and investor confidence.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could lead to a decline in stock price, especially given the recent mixed reactions to earnings.

Key Metrics to Watch

Earnings Per Share (EPS)

$1.50

EPS is a key indicator of the company's profitability and is closely watched by investors.

Revenue Growth

N/A

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is vital for long-term success.

Customer Count

N/A

An increase in customer count indicates growing demand for services, which can lead to higher revenues.

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 a significant deviation from expectations could impact investor sentiment.

How many new customers has Sempra added this quarter?

Customer growth is essential for revenue expansion, and insights here could indicate the company's market position and future performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Sempra's potential for customer growth, especially in emerging markets where energy demand is rising.

Supporting Evidence

Recent operational improvements may not be fully reflected in analyst expectations.

Sempra's commitment to sustainable energy could attract new customers, enhancing growth prospects.

Options pricing suggests limited volatility, which may not account for potential upside surprises.

Key Risk

If customer growth exceeds expectations, it could significantly alter the market's perception of Sempra's future.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on Sempra's ability to sustain earnings growth and attract new customers in a competitive market.

Bull Confirmed If

An EPS of $1.55 or higher would confirm strong profitability and investor confidence.

Bear Confirmed If

An EPS below $1.45 would raise concerns about profitability and could lead to a negative market reaction.

Pre-Earnings Positioning

Options Market

Implied Move

±3.2%

Historical Avg

±4.2%

Pricing cheap

The options market is pricing in a relatively modest move of 3.2%, suggesting that investors expect limited 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 a modest positive reaction, potentially confirming the company's operational strength.

In-Line / Cautious

If results are in line with expectations, the stock may see limited movement, reflecting cautious investor sentiment.

Miss

A miss could lead to a decline in stock price, with history suggesting an average drop of around 4.59% following earnings misses.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on customer acquisition strategies and results.
2Updates on sustainability initiatives and their impact on growth.
3Any changes in operational efficiency metrics.
4Insights into regulatory changes affecting the utilities sector.
5Management's outlook on future revenue growth.