Sempra

Company facts

Industry

Gas & Other Services Combined

Headquarters

San Diego, California

Most recent report

8-K, filed Aug 18, 2026

Incorporated

California

Filings on record

1,000+ filings

On EDGAR

CIK 1032208

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 4 of 10 sections worth reading, with 1 positive, 13 notable, and 7 negative flags.

• Financial Statements (Item 1) Financial statements and notes with real numbers; critical pending divestiture, wildfire risk, litigation.
  Notable

  • KP Pinnacle note amended: interest rate to increase to 8.5% then 10.0% after SI Partners sale closes.
  • SDG&E and SoCalGas filed 2028 GRC applications requesting revenue requirements of $3.8B and $5.1B for test year 2028.
  • SDG&E acquired 119-MW battery storage for ~$205M in July 2026.
  • $3.3B CRNCI and $7.3B NCI related to disposal group held for sale.
  • Pending sale of 45% of SI Partners for ~$9.99B expected Q3 2026; Sempra will retain 25% and deconsolidate.
  • SDG&E issued $1.1B in first mortgage bonds in March 2026 at 5.20% and 5.95%.
  • Sempra issued $1.8B in senior notes in Q2 2026 at 5.25% and floating rate.
  • SoCalGas preferred stock retirement proposal: holders to get $31/share (~$27M total), subject to shareholder vote.
  • ATM program: ~$2.6B of common stock remaining available at June 30, 2026.
  • SoCalGas' natural gas transportation commitments increased by ~$580M in H1 2026.
  Negative

  • Potential Wildfire Fund exhaustion: another IOU's claim could materially reduce or exhaust the fund.
  • SoCalGas named in Palisades and Eaton fire lawsuits in Los Angeles; dismissed Sempra from Palisades.
  • Port Arthur LNG I construction incident: three workers died; lawsuits pending against Sempra and Bechtel.
• Management's Discussion (Item 2) Rich MD&A with segment earnings, capex guide, Wildfire Fund, LNG delays.
  Positive

  • Sempra Texas Utilities earnings jumped to $346M in Q2 2026, up 66% from $208M, on higher Oncor equity earnings.
  Negative

  • SDG&E's Wildfire Fund ($248M asset) at risk of reduction by ~$1.38B and ~$645M claims from other utilities.
  • SoCalGas faces pending LA Fires litigation; costs and recovery uncertain.
  • ECA LNG Phase 1 compressor damage delays substantial completion to Q4 2026; first LNG cargo loaded July 7.
• Market Risk (Item 3) Commodity sensitivity doubled, new variable-rate debt, sale timing change.
  Notable

  • Commodity price sensitivity doubled to $21M at June 30, 2026 from $11M at Dec 31, 2025.
  • SI Partners sale expected Q3 2026; deconsolidation should reduce FX volatility.
  Negative

  • Sempra Texas Utilities lacks recovery mechanisms for inflation costs, risking financial effects.
• Other Information (Item 5) CEO adopted a new 10b5-1 plan, material terms disclosed.
  Notable

  • CEO adopted a 10b5-1 plan covering 20,985 owned shares plus up to ~120,086 from RSUs, starting Jan 2027.

What changed: Jun 2026 vs. Mar 2026

About 13% of SRE's Jun 2026 10-Q is new information. 160 paragraphs were added, 328 changed, and 85 removed. Below are the most important lines SECSift identified.

• Item 2 252
• Item 1 136
• Item 5 6
• Item 3 5
• Item 6 3
• Item 4 1