0001032208-26-000030
SEC filingSempra delivered a strong quarter with net income rising 13.1% to $1.0B, driven by asset optimization and tax benefits, partially offset by higher interest costs.
Net income for the first quarter of 2026 was $1.0 billion, a 13.1% increase compared to $917 million in the same period last year. The growth was primarily driven by Sempra Infrastructure, which benefited from asset optimization and tax benefits. Operating cash flow improved to $1.8 billion, up from $1.5 billion in the prior year, supported by improved working capital and higher distributions from investments.
Sempra California earnings were relatively stable, with CPUC base margin growth offset by lower income tax benefits and higher interest costs. SoCalGas and SDG&E operate under regulatory frameworks that permit recovery of actual costs, including those associated with declared disasters and related litigation, through insurance, third parties, and customer rates.
Net cash provided by operating activities increased to $1.8 billion, reflecting strong operational performance and improved working capital. Sempra Infrastructure expects to fund capital expenditures and investments in part with available funds, including existing credit facilities and cash flows from operations.