Recent Updates — SRE
Southern California Gas Company, an indirect subsidiary of Sempra, closed its public offering of $500 million aggregate principal amount of 5.500% First Mortgage Bonds, Series GGG, due September 1, 2036. Proceeds were received at 98.755% of the aggregate principal amount, net of underwriting discounts but before approximately $1.1 million in other offering expenses. Interest accrues from August 21, 2026, and is payable semiannually on March 1 and September 1, beginning March 1, 2027. The bonds are redeemable at the Company's option prior to maturity. Sempra operates as a diversified energy company providing electric and gas utility services.
Sempra reported second-quarter 2026 GAAP earnings of $796 million, or $1.21 per diluted share, compared to $461 million, or $0.71 per diluted share in the prior year period. Adjusted earnings were $762 million, or $1.16 per diluted share, versus $583 million, or $0.89 per diluted share previously. For the first half of 2026, GAAP earnings totaled $1.83 billion ($2.80 EPS), with adjusted earnings at $1.75 billion ($2.67 EPS). The company updated its full-year 2026 GAAP EPS guidance to a range of $5.02 to $5.55, while affirming the 2026 adjusted EPS range of $4.80 to $5.30 and the 2027 range of $5.10 to $5.70. Sempra also affirmed its long-term projected EPS growth rate of 7% to 9%. The company operates in the energy sector, providing electricity and natural gas services through regulated utilities in California and Texas.
Sempra subsidiaries SDG&E and SoCalGas filed 2028 General Rate Case applications with the California Public Utilities Commission requesting revenue requirements of $3,760 million for SDG&E and $5,096 million for SoCalGas for the 2028 test year. The requests include adjustments for 2029 through 2031 attrition years. Sempra is an energy infrastructure and utility company.
Sempra closed a public offering and sale of $1 billion in aggregate principal amount of Floating Rate Notes due 2028 on June 9, 2026. The notes bear interest at a floating rate of Compounded SOFR plus 0.670% per annum, maturing on January 7, 2028, with net proceeds of approximately $998.5 million. Sempra is an energy infrastructure company that provides electricity and natural gas services.