Equity Profile

SRE

Sempra

UtilitiesMulti-Utilities$58.3B

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 significant player in the multi-utilities sector, it plays a crucial role in energy distribution and infrastructure, which is vital for economic stability and growth.

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 customer base and increase sales, which is essential for long-term sustainability.

N/A

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 estimates by 0.33%. However, the stock declined by 2.24% the following day, indicating mixed investor sentiment.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about Sempra's upcoming earnings, given its recent performance and the stability of the utilities sector.

Bull Case

If Sempra can continue its trend of beating EPS estimates, it may signal strong operational efficiency and growth potential, leading to a positive stock reaction.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could lead to a significant decline in stock price, especially given the historical volatility.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

The EPS figure is critical as it directly impacts investor sentiment and stock performance, especially given the company's recent track record of beating estimates.

What guidance will management provide for the upcoming quarters?

Any forward-looking statements regarding revenue growth or operational challenges will be closely scrutinized, as they can significantly influence market expectations.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Sempra's ability to leverage recent operational efficiencies, which could lead to better-than-expected earnings.

Supporting Evidence

Sempra has consistently beaten EPS estimates in recent quarters, indicating strong management performance.

Options pricing suggests a lower expected move compared to historical averages, which may not reflect the company's potential upside.

Key Risk

If EPS exceeds $1.55, it could challenge the current bearish sentiment and shift investor expectations.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is pivotal as it could either reinforce Sempra's growth narrative or raise concerns about its financial health.

Bull Confirmed If

An EPS of $1.55 or higher would confirm the bull case, indicating strong operational performance.

Bear Confirmed If

An EPS below $1.45 would support the bear case, suggesting potential issues with 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 3.2%, suggesting that traders 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)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options pricing cheap in Utilities

n=30

Fade rate: 7 of 30 (23%)

This setup has occurred 30 times across Utilities in the last 2 years. 23 of 30 (77%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 1.5%, with a raw directional average of -0.6% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Sempra beats expectations, history suggests a potential stock increase of around 0.01%, confirming a positive outlook.

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%, reflecting investor disappointment and concerns about future performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on infrastructure investments and their expected impact on future revenue.
2Management's commentary on regulatory changes and their implications for operations.
3Insights into customer growth and retention strategies.
4Discussion on cost management initiatives and their effectiveness.
5Any updates on partnerships or collaborations that could enhance service offerings.

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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 customer base and increase sales, which is essential for long-term sustainability.

N/A

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 estimates by 0.33%. However, the stock declined by 2.24% the following day, indicating mixed investor sentiment.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about Sempra's upcoming earnings, given its recent performance and the stability of the utilities sector.

Bull Case

If Sempra can continue its trend of beating EPS estimates, it may signal strong operational efficiency and growth potential, leading to a positive stock reaction.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could lead to a significant decline in stock price, especially given the historical volatility.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q2-2026?

The EPS figure is critical as it directly impacts investor sentiment and stock performance, especially given the company's recent track record of beating estimates.

What guidance will management provide for the upcoming quarters?

Any forward-looking statements regarding revenue growth or operational challenges will be closely scrutinized, as they can significantly influence market expectations.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Sempra's ability to leverage recent operational efficiencies, which could lead to better-than-expected earnings.

Supporting Evidence

Sempra has consistently beaten EPS estimates in recent quarters, indicating strong management performance.

Options pricing suggests a lower expected move compared to historical averages, which may not reflect the company's potential upside.

Key Risk

If EPS exceeds $1.55, it could challenge the current bearish sentiment and shift investor expectations.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance is pivotal as it could either reinforce Sempra's growth narrative or raise concerns about its financial health.

Bull Confirmed If

An EPS of $1.55 or higher would confirm the bull case, indicating strong operational performance.

Bear Confirmed If

An EPS below $1.45 would support the bear case, suggesting potential issues with 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 3.2%, suggesting that traders 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)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options pricing cheap in Utilities

n=30

Fade rate: 7 of 30 (23%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Sempra beats expectations, history suggests a potential stock increase of around 0.01%, confirming a positive outlook.

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%, reflecting investor disappointment and concerns about future performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on infrastructure investments and their expected impact on future revenue.
2Management's commentary on regulatory changes and their implications for operations.
3Insights into customer growth and retention strategies.
4Discussion on cost management initiatives and their effectiveness.
5Any updates on partnerships or collaborations that could enhance service offerings.