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Sempra
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Displaying results 46 - 60 of 1201
SoCalGas Declares Preferred Dividends
LOS ANGELES, March 24, 2026 /PRNewswire/ -- The board of directors of Southern California Gas Company (SoCalGas) has declared regular quarterly dividends for the preferred series stock of the company as follows: SoCalGas: Preferred Stock $0.375 per share Preferred Stock, Series A $0.375 per share The dividends are payable on July 15, 2026, to shareholders of record on June 10, 2026. About SoCalGas SoCalGas is the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California. Our mission is: Safe, Reliable, and Affordable energy delivery today. Ready for tomorrow. SoCalGas is a recognized leader in the energy industry and has been named Corporate Member of the Year by the Los Angeles Chamber of Commerce for its volunteer leadership in the communities it serves. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading North American energy infrastructure company. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas. SOURCE Southern California Gas Company
Sempra Chairman and CEO Jeffrey W. Martin speaks with Jim Cramer on CNBC’s Mad Money
During an interview on CNBC from the floor of the New York Stock Exchange, Sempra Chairman and CEO Jeff Martin discussed the company’s strategic shift to a more focused, simplified business model centered on regulated utilities in California and Texas. Focusing on Sempra’s mission to build America’s leading utility growth business As part of this more focused strategy, Martin shared how Sempra’s planned sale of equity stake in Sempra Infrastructure Partners aims to strengthen Sempra’s balance sheet, support disciplined capital allocation and facilitate further investment at its U.S. utilities. He highlighted strong demand-driven opportunities in Texas, where accelerated economic growth and electricity demand are helping to drive significant transmission investments. “The American utility industry is in a supercycle of growth. That’s why, last month, we were pleased to come back and raise our five-year capital plan to $65 billion, and we’ve earmarked potentially another $9 billion on top of that. 1 ” — Jeffrey W. Martin, Chairman and CEO
Sempra California
Sempra California delivers safe, reliable, affordable energy to 25M customers, advancing grid resiliency, lower emissions, and cleaner energy solutions.
Sempra Reports 2025 Financial and Business Results
Posts Strong 2025 Financial Results Announces 2026 Value Creation Initiatives Raises Five-Year Capital Plan to $65B Issues Robust 2030 EPS Outlook SAN DIEGO, Feb. 26, 2026 /PRNewswire/ -- Sempra (NYSE: SRE) today reported full-year 2025 earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), of $1.80 billion or $2.75 per diluted share, compared to full-year 2024 GAAP earnings of $2.82 billion or $4.42 per diluted share. On an adjusted basis, the company's full-year 2025 earnings were $3.07 billion or $4.69 per diluted share, compared to $2.97 billion or $4.65 per diluted share in 2024. "In addition to posting strong financial results, we took important steps in 2025 to simplify our business, improve capital efficiency and strengthen our balance sheet," said Jeffrey W. Martin, chairman and CEO of Sempra. "Taken together, these considerations support an improved outlook for future earnings growth through the end of the decade." The company also reported fourth-quarter 2025 GAAP earnings of $352 million or $0.54 per diluted share, compared to fourth-quarter 2024 GAAP earnings of $665 million or $1.04 per diluted share. On an adjusted basis, the company's fourth-quarter 2025 earnings were $841 million or $1.28 per diluted share, compared to $960 million or $1.50 per diluted share in fourth-quarter 2024. The reported financial results reflect certain significant items as described on an after-tax basis in the following table of GAAP earnings, reconciled to adjusted earnings, for the fourth quarter and full-year 2025 and 2024. (Dollars and shares in millions, except EPS) Three months ended December 31, Years ended December 31, 2025 2024 2025 2024 GAAP Earnings $ 352 $ 665 $ 1,796 $ 2,817 Impact from regulatory disallowances 432 104 457 104 Impact of Track 2 FD for the first nine months of 2025 28 — — — Retroactive impact of 2024 GRC FD for the first nine months of 2024 — (22) — — Impact from foreign currency and inflation on monetary positions in Mexico 59 (84) 180 (262) Net unrealized losses on derivatives 7 13 43 26 Net unrealized gains on interest rate swaps related to Port Arthur LNG Phase 1 project (9) (30) — (30) Tax items related to assets held for sale (28) — 512 — Impact from foreign tax credit valuation allowance related to TCJA — 330 78 330 Earnings from investment in RBS Sempra Commodities LLP — (16) — (16) Adjusted Earnings (1) $ 841 $ 960 $ 3,066 $ 2,969 Diluted Weighted-Average Common Shares Outstanding 655 641 654 638 GAAP EPS $ 0.54 $ 1.04 $ 2.75 $ 4.42 Adjusted EPS (1) $ 1.28 $ 1.50 $ 4.69 $ 4.65 (1) See Table A for information regarding non-GAAP financial measures. 2025 Accomplishments In 2025, Sempra announced an enterprise-wide campaign centered on five strategic initiatives intended to create long-term value for shareholders by simplifying its business model, concentrating investments in its utilities, modernizing operations and enhancing safety and service quality for customers. Sempra successfully invested approximately $13 billion to modernize energy infrastructure, allocated primarily to its Texas and California utilities. Sempra Texas is also benefiting from improving financial returns, driven by greater capital efficiency at Oncor Electric Delivery Company LLC (Oncor), following implementation of the new Unified Tracker Mechanism in 2025. To unlock value in its liquified natural gas (LNG) franchise, Sempra entered into a strategic transaction to sell a 45% equity stake in Sempra Infrastructure Partners (SI Partners) to KKR affiliates for $10 billion. As part of Sempra's broader capital-recycling program, SI Partners entered into a definitive agreement in Q4 2025 to sell Ecogas México, S. de R.L. de C.V. (Ecogas), the fifth largest distribution network in Mexico, for approximately $500 million U.S. dollar-equivalent, resulting in a strong valuation. Both transactions are expected to close Q2 to Q3 of 2026 and are subject to price adjustments, approvals and closing conditions. Sempra also advanced community safety and operational excellence in 2025, including supporting regulatory improvements such as California Senate Bill 254, which strengthened the long-term stability of the state's wildfire fund and improved liquidity for claims. Also, San Diego Gas & Electric earned the ReliabilityOne ® Award for Outstanding Reliability Performance in the Western Region for the 20th consecutive year, highlighting the company's commitment to operational excellence, system modernization and grid hardening. 2026 to 2030 Plan Building on the strong foundation set in 2025, Sempra is now advancing a set of complementary initiatives in 2026 to support earnings growth and drive enhanced benefits for customers and communities across its service territories. Sempra’s 2026 Value Creation Initiatives 1. Investing nearly $13B to modernize and expand energy infrastructure and deliver improved financial returns 2. Efficiently sourcing capital for utility growth, including closing the SI Partners transaction and deconsolidating its debt 3. Simplifying Sempra’s business model through capital recycling, including closing the Ecogas transaction 4. Executing Fit for 2026 to continue modernizing operations, improving cost structure, and advancing our mission of building America’s leading utility growth business 5. Improving community safety and operational excellence with new innovations targeting improved service quality and affordability Sempra is also excited to announce a company-record, five-year 2026-2030 capital plan of approximately $65 billion, up from the 2025-2029 plan of $56 billion, with over 95% of projected capital expenditures focused on regulated utility investments in Texas and California. Consistent with the commitments made in 2025, the company expects to continue prioritizing the allocation of capital over the next five years to a growing portfolio of investment opportunities in Texas. In addition to the referenced $65 billion capital plan, Sempra also identified an additional $9 billion of potential incremental capital expenditures through 2030 with the majority intended to support Oncor's continued expansion of its electrical grid. The company’s 2026 – 2030 Plan is expected to provide the following key benefits: • Executing $65B capital plan focused on growing utility investment • Targeting 11% rate base compound annual growth rate (CAGR) and roughly 95% regulated earnings mix • Improving balance sheet strength with near-term path to better credit metrics • Eliminating need to issue common equity to fund base capital plan • Targeting 2 – 4% annual dividend increases across the plan period • Pursuing $9B of incremental capital opportunities beyond base capital plan "The strength of Sempra's execution in 2025, backed by a portfolio of new investment opportunities principally led by Oncor, has improved our expectation of long-term value creation," said Martin. "That is why we believe Sempra continues to be a great place to work and grow as we invest for the future." Earnings Guidance and 2030 Outlook Today, Sempra is affirming its full-year 2026 adjusted earnings-per-common share (EPS) guidance range of $4.80 to $5.30, which is not reconcilable to full-year 2026 GAAP EPS guidance range for the reasons described in Table A. Sempra is also announcing a full-year 2027 EPS guidance range of $5.10 to $5.70. In addition, Sempra is issuing full-year 2030 Outlook in an EPS range of $6.70 to $7.50. Common Dividend Sempra's board of directors declared a $0.6575 per share quarterly dividend on the company's common stock, which is payable April 15, 2026, to common stock shareholders of record at the close of business on March 19, 2026. The declared quarterly dividend represents an increase of the company's common stock dividend to $2.63 per share, on an annualized basis, from $2.58 per share in 2025. Non-GAAP Financial Measures Non-GAAP financial measures include Sempra's adjusted earnings, adjusted EPS and adjusted EPS guidance range. See Table A for additional information regarding these non-GAAP financial measures. Internet Broadcast Sempra will broadcast a live discussion of its earnings results over the internet today at 12 p.m. ET with the company's senior management. Access is available by visiting the Investors section of the company's website at sempra.com/investors. The webcast will be available on replay a few hours after its conclusion at sempra.com/investors. About Sempra Sempra's mission is to build America's leading utility growth business. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving energy resilience in California and Texas, the two largest economies in the U.S. The company is recognized as a leader in responsible business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in The Wall Street Journal's Management Top 250 and Fortune's World's Most Admired Companies. More information about Sempra is available at sempra.com and on social media @sempra. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "pro forma," "strategic," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: California wildfires, including potential liability for damages regardless of fault and any inability to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054 and the wildfire fund continuation account established by California Senate Bill 254, rates from customers or a combination thereof; decisions, disallowances or denials of cost recovery, audits, investigations, inquiries, ordered studies, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) Comisión Nacional de Energía, California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, U.S. Internal Revenue Service, Public Utility Commission of Texas and other regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures, and other significant transactions such as the planned sale of a portion of our equity interest in Sempra Infrastructure Partners, including risks related to, as applicable, (i) being able to reach a positive final investment decision, (ii) negotiating pricing and other terms in definitive contracts, (iii) completing construction projects or other transactions on schedule and budget, (iv) realizing anticipated benefits from any of these efforts if completed, (v) obtaining regulatory and other approvals and (vi) third parties honoring their contracts and commitments, including with respect to closing or post-closing payments; changes to our capital expenditure plans and their potential impact on rate base or other growth; changes, due to evolving economic, political and other factors, to (i) trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries, and (ii) laws and regulations, including those related to tax and the energy industry in the U.S. and Mexico; litigation, arbitration, property disputes and other proceedings; cybersecurity threats, including by nation-state actors, of ransomware or other attacks on our systems, the energy grid or our other infrastructure, or the systems of third parties with which we conduct business; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, which can be affected by, among other things, (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, and (iii) fluctuating interest rates and inflation; the impact of efforts to increase affordability of U.S. utility customer rates on our ability to obtain cost recovery from applicable regulators, our capital expenditure and other growth plans and our ability to advance statewide policies; the impact on affordability of customer rates, cost of capital and operating margin due to (i) volatility in inflation, interest rates, commodity prices, tariff rates, and foreign currency exchange rates and (ii) with respect to SDG&E's and SoCalGas' businesses, the cost of meeting the demand for lower carbon and reliable energy in California; the impact of climate policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power, natural gas and natural gas storage and transportation capacity, including disruptions caused by failures in the transmission grid or pipeline and storage systems or limitations on the injection and withdrawal of natural gas from storage facilities; Oncor Electric Delivery Company LLC's (Oncor) ability to reduce or eliminate its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov , and on Sempra's website, www.sempra.com . Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or SoCalGas, nor are they regulated by the CPUC. None of the website references in this press release are active hyperlinks, and the information contained on, or that can be accessed through, any such website is not, and shall not be deemed to be, part of this document. SEMPRA Table A CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in millions, except per share amounts; shares in thousands) Three months ended December 31, Years ended December 31, 2025 2024 2025 (1) 2024 (1) REVENUES Utilities: Natural gas $ 2,124 $ 2,343 $ 7,319 $ 7,141 Electric 1,202 1,027 4,552 4,296 Energy-related businesses 423 388 1,831 1,748 Total revenues 3,749 3,758 13,702 13,185 EXPENSES AND OTHER INCOME Utilities: Cost of natural gas (396) (342) (1,282) (1,132) Cost of electric fuel and purchased power (120) (18) (385) (245) Energy-related businesses cost of sales (46) (83) (367) (380) Operation and maintenance (1,350) (1,465) (5,281) (5,336) Regulatory disallowances (651) — (651) — Depreciation and amortization (608) (626) (2,563) (2,437) Franchise fees and other taxes (189) (178) (744) (693) Other (expense) income, net (30) (58) 169 136 Interest income 38 14 103 61 Interest expense (337) (105) (1,532) (1,049) Income before income taxes and equity earnings 60 897 1,169 2,110 Income tax benefit (expense) 10 (282) (701) (219) Equity earnings 414 374 1,604 1,609 Net income 484 989 2,072 3,500 Earnings attributable to noncontrolling interests (135) (313) (238) (638) Losses attributable to contingently redeemable noncontrolling interest 3 — 3 — Preferred deemed dividends — — (11) — Preferred dividends — (11) (29) (44) Preferred dividends of subsidiary — — (1) (1) Earnings attributable to common shares $ 352 $ 665 $ 1,796 $ 2,817 Basic earnings per common share (EPS): Earnings $ 0.54 $ 1.05 $ 2.75 $ 4.44 Weighted-average common shares outstanding 653,170 635,144 652,697 633,795 Diluted EPS: Earnings $ 0.54 $ 1.04 $ 2.75 $ 4.42 Weighted-average common shares outstanding 655,040 641,395 653,826 637,943 (1) Derived from audited financial statements. SEMPRA Table A (Continued) Sempra Adjusted Earnings, Adjusted EPS and Adjusted EPS Guidance Range are non-GAAP financial measures (GAAP represents generally accepted accounting principles in the United States of America). These non-GAAP financial measures exclude significant items that are generally not related to our ongoing business activities and/or are infrequent in nature. These non-GAAP financial measures also exclude the impact from foreign currency and inflation on our monetary positions in Mexico and net unrealized gains and losses on commodity and interest rate derivatives, which we expect to occur in future periods, and which can vary significantly from one period to the next. Exclusion of these items is useful to management and investors because it provides a meaningful comparison of the performance of Sempra's business operations to prior and future periods. Non-GAAP financial measures are supplementary information that should be considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP. RECONCILIATION OF SEMPRA ADJUSTED EARNINGS AND ADJUSTED EPS TO SEMPRA GAAP EARNINGS AND GAAP EPS Sempra Adjusted Earnings and Adjusted EPS exclude items (after the effects of income taxes and, if applicable, noncontrolling interests (NCI)) in 2025 and 2024 as follows: Three months ended December 31, 2025: $(432) million charge from regulatory disallowances related to 2019 through 2024 associated with the final decision (FD) in our 2024 General Rate Case (2024 GRC) Track 2 request (Track 2 FD) at Sempra California $(28) million charge from regulatory disallowances related to the first nine months of 2025 associated with the Track 2 FD at Sempra California $(59) million impact from foreign currency and inflation on our monetary positions in Mexico $(7) million net unrealized losses on commodity derivatives $9 million net unrealized gains on interest rate swaps related to the initial phase of the Port Arthur LNG liquefaction project (PA LNG Phase 1 project) $28 million net income tax benefit as a result of management's decision to classify Sempra Infrastructure Partners, LP (SI Partners) and Ecogas México, S. de R.L. de C.V. (Ecogas) as held for sale, which such amounts could change in future periods until the dates of sale: $16 million income tax benefit to adjust a Mexican deferred tax liability on our outside basis difference in Ecogas $12 million income tax benefit to adjust deferred income tax liabilities primarily related to the outside basis differences in our investment in SI Partners Three months ended December 31, 2024: $(104) million impact from regulatory disallowances at Sempra California consisting of: $(89) million charge from the Federal Energy Regulatory Commission (FERC) order finding that the Electric Transmission Owner Formula Rate, effective June 1, 2019 through May 31, 2025 (TO5), adder refund provision had been triggered, requiring Sempra California to refund customers the California Independent System Operator (California ISO) adder retroactively from June 1, 2019 $(15) million impairment from disallowed capital costs in the 2024 GRC FD $22 million retroactive impact from the 2024 GRC FD for the first nine months of 2024 at Sempra California $84 million impact from foreign currency and inflation on our monetary positions in Mexico $(13) million net unrealized losses on commodity derivatives $30 million net unrealized gains on interest rate swaps related to the PA LNG Phase 1 project $(330) million income tax expense from changes to a valuation allowance against foreign tax credits that were carried forward from the implementation of the Tax Cuts and Jobs Act of 2017 (TCJA) $16 million equity earnings from investment in RBS Sempra Commodities LLP from the substantial dissolution of the partnership Year ended December 31, 2025: $(457) million impact from regulatory disallowances at Sempra California consisting of: $(432) million charge from regulatory disallowances related to 2019 through 2024 associated with the Track 2 FD $(25) million charge related to the recovery of coronavirus disease 2019 costs $(180) million impact from foreign currency and inflation on our monetary positions in Mexico $(43) million net unrealized losses on commodity derivatives $(512) million net income tax expense as a result of management's decision to classify SI Partners and Ecogas as held for sale, which such amounts could change in future periods until the dates of sale: $(693) million income tax expense to adjust deferred income tax liabilities primarily related to the outside basis differences in our investment in SI Partners $(10) million income tax expense due to the recognition of a Mexican deferred tax liability on our outside basis difference in Ecogas $191 million net income tax benefit from changes to a valuation allowance against certain tax credit carryforwards offset by changes in state income tax apportionment $(78) million income tax expense from changes to a valuation allowance against foreign tax credits that were carried forward from the implementation of the TCJA Year ended December 31, 2024: $(104) million impact from regulatory disallowances at Sempra California consisting of: $(89) million charge from the FERC order finding that the TO5 adder refund provision had been triggered, requiring Sempra California to refund customers the California ISO adder retroactively from June 1, 2019 $(15) million impairment from disallowed capital costs in the 2024 GRC FD $262 million impact from foreign currency and inflation on our monetary positions in Mexico $(26) million net unrealized losses on commodity derivatives $30 million net unrealized gains on interest rate swaps related to the PA LNG Phase 1 project $(330) million income tax expense from changes to a valuation allowance against foreign tax credits that were carried forward from the implementation of the TCJA $16 million equity earnings from investment in RBS Sempra Commodities LLP from the substantial dissolution of the partnership The table below reconciles for historical periods Sempra Adjusted Earnings and Adjusted EPS to Sempra GAAP Earnings and GAAP EPS, which we consider to be the most directly comparable financial measures calculated in accordance with GAAP. SEMPRA Table A (Continued) SEMPRA 2026 ADJUSTED EPS GUIDANCE RANGE We are unable to reconcile Sempra 2026 Adjusted EPS Guidance Range (a non-GAAP financial measure) of $4.80 to $5.30 to Sempra 2026 GAAP EPS Guidance Range, which we consider to be the most directly comparable financial measure calculated in accordance with GAAP, because we cannot reasonably estimate the forward-looking amount or range of amounts of reasonably estimable GAAP amounts for, or the probable significance of, each of the following future events: impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives net unrealized gains and losses on commodity and interest rate derivatives any potential gain from the agreement to sell Ecogas to Gas Natural del Noroeste S.A. de C.V. that was entered into in December 2025, as the purchase price is subject to closing adjustments, post-closing adjustments, and tax items related to our outside basis difference in Ecogas, all of which are subject to adjustments based on changes in carrying value, foreign exchange rates and inflation until the date of sale any potential gain from the agreement to sell an equity interest in SI Partners to the KKR Partners that was entered into in September 2025, as the purchase price is subject to closing adjustments, post-closing adjustments, and tax items related to our outside basis difference in SI Partners, all of which are subject to adjustments based on changes in carrying value, foreign exchange rates and inflation until the date of sale SEMPRA Table B CONSOLIDATED BALANCE SHEETS (Dollars in millions) December 31, 2025 (1) 2024 (1) ASSETS Current assets: Cash and cash equivalents $ 29 $ 1,565 Restricted cash 2 21 Accounts receivable – trade, net 1,767 1,983 Accounts receivable – other, net 157 397 Due from unconsolidated affiliates — 13 Income taxes receivable 71 90 Inventories 561 559 Regulatory assets 761 60 Greenhouse gas allowances 203 217 Assets held for sale 31,024 — Other current assets 262 380 Total current assets 34,837 5,285 Other assets: Restricted cash — 3 Regulatory assets 3,868 3,937 Greenhouse gas allowances 1,221 845 Nuclear decommissioning trusts 899 875 Dedicated assets in support of certain benefit plans 605 585 Deferred income taxes 10 172 Right-of-use assets – operating leases 1,262 1,177 Investment in Oncor Holdings 17,472 15,400 Other investments 147 2,534 Goodwill — 1,602 Other intangible assets — 292 Wildfire fund 246 262 Other long-term assets 1,300 1,749 Total other assets 27,030 29,433 Property, plant and equipment, net 49,011 61,437 Total assets $ 110,878 $ 96,155 (1) Derived from audited financial statements. SEMPRA Table B (Continued) CONSOLIDATED BALANCE SHEETS (Dollars in millions) December 31, 2025 (1) 2024 (1) LIABILITIES, CONTINGENTLY REDEEMABLE NONCONTROLLING INTEREST, AND EQUITY Current liabilities: Short-term debt $ 4,166 $ 2,016 Accounts payable – trade 1,461 2,238 Accounts payable – other 203 208 Due to unconsolidated affiliates 8 — Dividends and interest payable 770 773 Accrued compensation and benefits 521 558 Regulatory liabilities 3 141 Current portion of long-term debt and finance leases 1,876 2,274 Greenhouse gas obligations 203 217 Liabilities held for sale 11,704 — Other current liabilities 979 1,251 Total current liabilities 21,894 9,676 Long-term debt and finance leases 28,979 31,558 Deferred credits and other liabilities: Due to unconsolidated affiliates — 352 Regulatory liabilities 4,250 3,817 Greenhouse gas obligations 957 506 Pension and other postretirement benefit plan obligations, net of plan assets 124 168 Deferred income taxes 6,127 5,845 Asset retirement obligations 3,743 3,737 Deferred credits and other 2,805 2,708 Total deferred credits and other liabilities 18,006 17,133 Contingently redeemable noncontrolling interest 3,206 — Equity: Sempra shareholders' equity 31,594 31,222 Preferred stock of subsidiary 20 20 Other noncontrolling interests 7,179 6,546 Total equity 38,793 37,788 Total liabilities, contingently redeemable noncontrolling interest, and equity $ 110,878 $ 96,155 (1) Derived from audited financial statements. SEMPRA Table C CONSOLIDATED STATEMENTS OF CASH FLOWS (Dollars in millions) Years ended December 31, 2025 (1) 2024 (1) CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 2,072 $ 3,500 Adjustments to reconcile net income to net cash provided by operating activities 2,348 926 Net change in working capital components (1,255) (462) Distributions from investments 1,120 1,093 Changes in other noncurrent assets and liabilities, net 280 (150) Net cash provided by operating activities 4,565 4,907 CASH FLOWS FROM INVESTING ACTIVITIES Expenditures for property, plant and equipment (10,612) (8,215) Expenditures for investments (2,015) (988) Distributions from investments — 9 Purchases of nuclear decommissioning and other trust assets (1,031) (889) Proceeds from sales of nuclear decommissioning and other trust assets 1,098 942 Other 23 23 Net cash used in investing activities (12,537) (9,118) CASH FLOWS FROM FINANCING ACTIVITIES Common dividends paid (1,603) (1,499) Preferred dividends paid (40) (44) Redemption of preferred stock (900) — Issuances of common stock, net 32 1,219 Repurchases of common stock (58) (43) Issuances of debt (maturities greater than 90 days) 11,282 8,674 Payments on debt (maturities greater than 90 days) and finance leases (5,220) (3,339) Increase (decrease) in short-term debt, net 1,262 (557) Advances from unconsolidated affiliates 150 85 Contributions from contingently redeemable noncontrolling interest, net of transaction costs 5,294 — Proceeds from investor equity subscription 106 — Contributions from noncontrolling interests 327 1,235 Distributions to noncontrolling interests (609) (297) Termination of interest rate swaps — 46 Other (93) (56) Net cash provided by financing activities 9,930 5,424 Effect of exchange rate changes on cash, cash equivalents and restricted cash 5 (13) Increase in cash, cash equivalents and restricted cash 1,963 1,200 Cash, cash equivalents and restricted cash, January 1 1,589 389 Cash, cash equivalents and restricted cash, December 31 $ 3,552 $ 1,589 (1) Derived from audited financial statements. SEMPRA Table D SEGMENT EARNINGS (LOSSES) AND CAPITAL EXPENDITURES (Dollars in millions) Three months ended December 31, Years ended December 31, 2025 2024 2025 (1) 2024 (1) EARNINGS (LOSSES) ATTRIBUTABLE TO COMMON SHARES Sempra California $ 75 $ 701 $ 1,428 $ 1,846 Sempra Texas Utilities 201 135 861 781 Sempra Infrastructure 202 259 (160) 911 Segment earnings attributable to common shares 478 1,095 2,129 3,538 Parent and other (126) (430) (333) (721) Sempra earnings attributable to common shares $ 352 $ 665 $ 1,796 $ 2,817 CAPITAL EXPENDITURES FOR PROPERTY, PLANT AND EQUIPMENT Sempra California $ 1,209 $ 1,424 $ 4,543 $ 4,753 Sempra Infrastructure 2,200 1,026 6,063 3,459 Segment totals 3,409 2,450 10,606 8,212 Parent and other 2 — 6 3 Total Sempra $ 3,411 $ 2,450 $ 10,612 $ 8,215 CAPITAL EXPENDITURES FOR INVESTMENTS Sempra Texas Utilities $ 523 $ 398 $ 2,013 $ 976 Sempra Infrastructure — 2 2 12 Total Sempra $ 523 $ 400 $ 2,015 $ 988 (1) Derived from audited financial statements. SEMPRA Table D (Continued) RECONCILIATION OF SEMPRA'S CAPITAL PLAN TO PROJECTED FUTURE CAPITAL EXPENDITURES (Dollars in billions) Sempra California Sempra Texas Utilities Sempra Infrastructure Total Sempra Capital Plan for 2026 – 2030 (1) Projected future capital expenditures for PP&E and investments – GAAP $ 23.5 $ 11.1 $ 4.1 $ 38.7 Capital expenditures to unconsolidated entities (2) — (11.1) (2.6) (13.7) Capital expenditures at unconsolidated entities (3) — 38.2 2.7 40.9 Capital expenditures attributable to NCI owners (4) — — (1.0) (1.0) Capital Plan $ 23.5 $ 38.2 $ 3.2 $ 64.9 Percentage of projected future capital expenditures for PP&E and investments – GAAP 61 % 29 % 10 % 100 % Percentage of Capital Plan 36 % 59 % 5 % 100 % Capital Plan for 2025 – 2029 (1) Projected future capital expenditures for PP&E and investments – GAAP $ 22.4 $ 8.1 $ 10.9 $ 41.4 Capital expenditures to unconsolidated entities (2) — (8.1) — (8.1) Capital expenditures at unconsolidated entities (3) — 29.1 0.1 29.2 Capital expenditures attributable to NCI owners (4) — — (7.0) (7.0) Capital Plan $ 22.4 $ 29.1 $ 4.0 $ 55.5 Percentage of projected future capital expenditures for PP&E and investments – GAAP 54 % 20 % 26 % 100 % Percentage of Capital Plan 40 % 53 % 7 % 100 % Projected future capital expenditures for PP&E and investments growth rate – GAAP (2025 – 2029 to 2026 – 2030) (7) % Capital Plan growth rate (2025 – 2029 to 2026 – 2030) 17 % Total Sempra Capital Plan for 2026 (1) Projected future capital expenditures for PP&E and investments – GAAP $ 8.6 Capital expenditures to unconsolidated entities (2) (2.8) Capital expenditures at unconsolidated entities (3) 7.9 Capital expenditures attributable to NCI owners (4) (1.0) Capital Plan $ 12.7 (1) ‌ All projects in progress and future projects are subject to a number of risks and uncertainties. Sempra's Capital Plan and expectations regarding potential increases to its capital requirements are based on a number of assumptions, the failure of which to be accurate could materially impact Sempra's actual Capital Plan. Sempra's Capital Plan assumes Sempra's 70% consolidated ownership of SI Partners for the first three months of 2026 and 25% thereafter, which represents Sempra's remaining interest under the equity method upon completion of the sale of a 45% equity interest in SI Partners. Sempra's Capital Plan is considered by management to be an operating measure. (2) Represents Sempra's projected future capital contributions to unconsolidated equity method investees. (3) Represents Sempra's proportionate ownership interest in projected capital expenditures at unconsolidated equity method investees. (4) Represents NCI's proportionate ownership interest in projected capital expenditures at Sempra and at unconsolidated equity method investees. SEMPRA Table E OTHER OPERATING STATISTICS Three months ended December 31, Years ended or at December 31, 2025 2024 2025 2024 UTILITIES Sempra California Gas sales (Bcf) (1) 86 95 333 349 Transportation (Bcf) (1) 119 141 505 560 Total deliveries (Bcf) (1) 205 236 838 909 Total gas customer meters (thousands) 7,131 7,132 Electric sales (millions of kWhs) (1) 740 754 2,885 3,207 Community Choice Aggregation and Direct Access (millions of kWhs) 3,616 3,461 13,903 13,484 Total deliveries (millions of kWhs) (1) 4,356 4,215 16,788 16,691 Total electric customer meters (thousands) 1,548 1,532 Oncor Electric Delivery Company LLC (Oncor) (2) Total deliveries (millions of kWhs) 40,782 38,827 172,775 162,691 Total electric customer meters (thousands) 4,111 4,046 Ecogas Natural gas sales (Bcf) 1 1 4 4 Natural gas customer meters (thousands) 169 163 ENERGY-RELATED BUSINESSES Sempra Infrastructure Termoeléctrica de Mexicali (millions of kWhs) 985 964 3,464 3,675 Wind and solar (millions of kWhs) (1) 565 594 2,796 2,888 (1) ‌ Includes intercompany sales. (2) Includes 100% of the electric deliveries and customer meters of Oncor, in which we hold an 80.25% interest through our investment in Oncor Electric Delivery Holdings Company LLC. SOURCE Sempra
Form 10-K - 2026
Sempra to Report Fourth-Quarter and Full-Year 2025 Earnings on February 26
SAN DIEGO, Feb. 9, 2026 /PRNewswire/ -- Sempra (NYSE: SRE) plans to release its fourth-quarter and full-year 2025 earnings results by 8 a.m. ET on Thursday, February 26. The announcement will also include an update on Sempra's five-year financial plan. Senior leaders from across the company will host a conference call with a slide presentation at 12 p.m. ET on Thursday, February 26. Materials will be published prior to market open the same day. Investors, analysts and others may register to listen to the live webcast and view related materials by visiting Sempra's Investors site. About Sempra Sempra's mission is to build America's leading utility growth business. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving energy resilience in California and Texas, the two largest economies in the U.S. The company is recognized as a leader in responsible business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in The Wall Street Journal's Management Top 250 and Fortune's World's Most Admired Companies. More information about Sempra is available at sempra.com and on social media @sempra. SOURCE Sempra
SoCalGas Customers Can Access Safety Information, Energy Assistance, and Reliability Resources at World Ag Expo
LOS ANGELES, Feb. 9, 2026 /PRNewswire/ -- Customers across the San Joaquin Valley will have access to information about safety, energy affordability, and reliability programs and options during the World Ag Expo, where Southern California Gas Co. (SoCalGas) staff will be available to answer questions and provide customer resources. At the SoCalGas booth, visitors will get information on bill assistance programs, energy efficiency rebates, and pipeline safety tips, including the importance of calling 811 before digging. These resources are designed to help customers stay safe, save money, and make informed energy choices. "The World Ag Expo gives us a chance to meet people face-to-face and talk about the things that matter most to them — safety, affordability, and keeping their energy service reliable," said Andy Carrasco, vice president of community and regional stakeholder engagement at SoCalGas. "We're here to listen, answer questions, and share resources that can make a real difference for families and businesses across the San Joaquin Valley." In addition to customer programs, SoCalGas will also showcase onsite microgrid and combined heat and power (CHP) solutions from BSD Builders, Inc. SoCalGas is currently collaborating with the San Diego-based developer that specializes in prime power systems on 10 active development projects designed to facilitate continuous power for critical facilities. These systems can provide on-site power generation with heat recovery and will be fuel-flexible, capable of operating on natural gas, renewable natural gas, or hydrogen, offering businesses a reliable option that complements California's vision for a resilient energy future. "Microgrids are no longer just a backup option—they're a cost-effective, dependable solution for businesses that need continuous power," said Jeff Blair, CEO of BSD Builders, Inc. "Our collaboration with SoCalGas can help ensure customers have access to energy solutions that align with State reliability goals and support growth in critical sectors like healthcare, agriculture, and food processing." SoCalGas has exhibited at every World Ag Expo since its inception in 1968, making the company one of the event's longest-standing participants. "We are grateful for SoCalGas' long-standing presence at World Ag Expo and their continued involvement over the years," said Jerry Sinift, chief executive officer at International Agri-Center. "Their participation reflects a strong commitment to agriculture and to the communities we serve. Having them at the show each year provides attendees with valuable access to resources, expertise, and support." The SoCalGas booth will be located at the corner of "H" and Median Street. For more information about customer programs and safety resources, visit socalgas.com. About SoCalGas SoCalGas is the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California. Our mission is: Safe, Reliable, and Affordable energy delivery today. Ready for tomorrow. SoCalGas is a recognized leader in the energy industry and has been named Corporate Member of the Year by the Los Angeles Chamber of Commerce for its volunteer leadership in the communities it serves. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading North American energy infrastructure company. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "pro forma," "strategic," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, denials of cost recovery, audits, investigations, inquiries, ordered studies, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks related to, as applicable, (i) negotiating pricing and other terms in definitive contracts, (ii) completing construction projects or other transactions on schedule and budget, (iii) realizing anticipated benefits from any of these efforts if completed, (iv) obtaining regulatory and other approvals and (v) third parties honoring their contracts and commitments; changes to our capital expenditure plans and their potential impact on rate base or other growth; changes, due to evolving economic, political and other factors, to (i) trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries, and (ii) laws and regulations, including those related to tax; litigation, arbitration, property disputes and other proceedings; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, which can be affected by, among other things, (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, and (iii) fluctuating interest rates and inflation; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and the imposition of tariffs and (ii) the cost of meeting the demand for lower carbon and reliable energy in California; the impact of climate policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage and transportation capacity, including disruptions caused by failures in the pipeline and storage systems or limitations on the injection and withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, nor are they regulated by the CPUC. Message Funded by Ratepayers SOURCE Southern California Gas Company
Sempra Ranks Again Among Fortune's Most Admired
SAN DIEGO, Feb. 5, 2026 /PRNewswire/ -- Sempra (NYSE: SRE) has once again been named one of Fortune's World's Most Admired Companies, marking the 16th consecutive year the company has been recognized as a global leader with a strong corporate reputation. "Earning a place on the World's Most Admired Companies list is meaningful recognition of our team's commitment to excellence," said Jeffrey W. Martin, chairman and CEO of Sempra. "We are proud of the consistent strides we have made in investing in leadership and workforce development, which are central to our mission of building America's leading utility growth business. Today, Sempra is a great place to work, grow and help shape the future." Fortune's annual list is developed in partnership with Korn Ferry, surveying executives, directors and analysts who evaluate companies within their industries on nine key attributes, including innovation, quality of management, social responsibility and ability to attract and retain talent. This recognition adds to a series of recent honors highlighting Sempra's strong culture, operational excellence and position as an industry leader. In recent weeks, the company has been named to The Wall Street Journal's Management Top 250, Forbes' America's Best Employers for Company Culture and Newsweek's America's Most Responsible Companies list. About Sempra Sempra is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets, including California, Texas, Mexico and global energy markets. The company is recognized as a leader in sustainable business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in the Dow Jones Sustainability Index North America. More information about Sempra is available at sempra.com and on social media @Sempra. SOURCE Sempra
SoCalGas Petitions CPUC to Update Hydrogen Blending Demonstration Requirements Based on Global Safety History and Research
LOS ANGELES, Feb. 4, 2026 /PRNewswire/ -- Southern California Gas Co. (SoCalGas), along with San Diego Gas & Electric Company and Southwest Gas Corporation, on Tuesday submitted a petition to the California Public Utilities Commission (CPUC) to modify a 2022 decision ordering the California investor-owned gas utilities (IOUs) to develop a demonstration project blending up to 5% hydrogen into natural gas prior to recommending a systemwide clean renewable hydrogen injection standard for medium pressure distribution systems. Because the safety case for low‑level blends has been advanced since the CPUC's order, the utilities are asking the agency to remove the requirement to develop the 5% demonstration projects before recommending a systemwide blending standard. The petition does not change the CPUC's requirement for utilities to develop demonstration projects studying blends in the 5%–20% range, which remain an important part of California's long‑term decarbonization planning. Since 2022, a significant body of new research, operational data, and real‑world experience has emerged. Utilities in America – including in California – and around the world have already demonstrated that blending up to 5% hydrogen into existing natural gas systems can be done safely, reliably, and without modifying customer appliances. "Building off what we've learned collectively over the past few years, the CPUC has an opportunity to save ratepayers both money and time as we work to help California scale hydrogen production and decrease carbon emissions," said SoCalGas Vice President of Gas Engineering and System Integrity Amy Kitson. "Hydrogen blending is already being used here in the U.S. and around the world every day to power people's homes and businesses, which has shown us that mixing up to 5% hydrogen can be done safely in medium pressure natural gas systems." "Blending up to 5% hydrogen is a practical, forward-looking step toward decarbonizing our natural gas system," said Sen. Bob Archuleta (D- Pico Rivera). "It leverages existing infrastructure to reduce emissions today while planning for a cleaner energy future." "We should not delay this important step toward making our entire energy system more sustainable and clean," said Jack Brouwer, UCI professor of mechanical and aerospace engineering and director of the UCI-based National Fuel Cell Research Center. "All objective analyses of the energy transition show that use of both the gas and electric systems are required to achieve sustainability, reliability, and lowest cost goals. Beginning to evaluate the sustainable transformation of the gas system with clean hydrogen blending is important to meet sustainability and cost goals." Hydrogen blending is the practice of mixing hydrogen with natural gas, which the State of California has said could help decarbonize its energy grid. In response to the CPUC's 2022 decision, the state's investor-owned utilities have proposed five hydrogen blending demonstration projects as the state considers a systemwide hydrogen blending standard. SoCalGas currently has proposed two of these hydrogen blending demonstration projects, one of which is designed to blend up to 5% hydrogen and thus would not be completed if the CPUC approves the pending petition for modification. Research, real-world projects demonstrate hydrogen blending effectiveness Advancements over the past four years, supported by research and real‑world demonstrations in the U.S. and other countries, show that low-level hydrogen blends do not harm pipelines and appliances, or impact system safety, enabling the use of existing infrastructure without modification. States like Utah, which have already completed similar demonstration projects, have shown that blending up to 5% hydrogen with natural gas can be done safely and doesn't require any changes to customers' appliances. In addition, Hawai'i Gas has safely been using up to 15% hydrogen in its fuel mix with regular, everyday appliances for more than a half-century, allowing a less carbon intensive fuel mix to power homes and businesses. Several studies have also shown that blends of up to 20% hydrogen can safely power regular everyday household and business appliances, while reducing carbon emissions and potentially even reducing nitrous oxide (NO x) emissions. SoCalGas has been successfully demonstrating the use of hydrogen blending for more than a decade, having completed the first-ever power-to-gas hydrogen blending project in the United States in 2016 at UC Irvine to help power the campus. Since then, the company has also completed a number of demonstration projects, including the development and operation of the [H2] Innovation Experience, North America's first-ever clean renewable hydrogen powered microgrid and home which uses hydrogen blends up to 20% to power its off-the-shelf appliances. For more information about SoCalGas' blending proposals, visit https://www.socalgas.com/h2blending. About SoCalGas SoCalGas is the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California. Our mission is: Safe, Reliable, and Affordable energy delivery today. Ready for tomorrow. SoCalGas is a recognized leader in the energy industry and has been named Corporate Member of the Year by the Los Angeles Chamber of Commerce for its volunteer leadership in the communities it serves. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading North American energy infrastructure company. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas. This please release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "pro forma," "strategic," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, denials of cost recovery, audits, investigations, inquiries, ordered studies, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks related to, as applicable, (i) negotiating pricing and other terms in definitive contracts, (ii) completing construction projects or other transactions on schedule and budget, (iii) realizing anticipated benefits from any of these efforts if completed, (iv) obtaining regulatory and other approvals and (v) third parties honoring their contracts and commitments; changes to our capital expenditure plans and their potential impact on rate base or other growth; changes, due to evolving economic, political and other factors, to (i) trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries, and (ii) laws and regulations, including those related to tax; litigation, arbitration, property disputes and other proceedings; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, which can be affected by, among other things, (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, and (iii) fluctuating interest rates and inflation; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and the imposition of tariffs and (ii) the cost of meeting the demand for lower carbon and reliable energy in California; the impact of climate policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage and transportation capacity, including disruptions caused by failures in the pipeline and storage systems or limitations on the injection and withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, nor are they regulated by the CPUC. Message funded by shareholders SOURCE Southern California Gas Company
SoCalGas Declares Preferred Dividends
LOS ANGELES, Feb. 3, 2026 /PRNewswire/ -- The board of directors of Southern California Gas Company (SoCalGas) has declared regular quarterly dividends for the preferred series stock of the company as follows: SoCalGas: Preferred Stock $0.375 per share Preferred Stock, Series A $0.375 per share The dividends are payable on April 15, 2026, to shareholders of record on March 10, 2026. About SoCalGas SoCalGas is the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California. Our mission is: Safe, Reliable, and Affordable energy delivery today. Ready for tomorrow. SoCalGas is a recognized leader in the energy industry and has been named Corporate Member of the Year by the Los Angeles Chamber of Commerce for its volunteer leadership in the communities it serves. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading North American energy infrastructure company. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas. SOURCE Southern California Gas Company
SoCalGas Issues Statement on Southern California Edison's Eaton Litigation
LOS ANGELES, Jan. 21, 2026 /PRNewswire/ -- On January 16, 2026, Southern California Edison (Edison) filed cross–claims in the ongoing Eaton Fire litigation against more than a dozen defendants, including Southern California Gas Company (SoCalGas). Edison has acknowledged its role in the Eaton fire for the better part of a year now. SoCalGas intends to vigorously defend against what it considers to be Edison's attempts to deflect responsibility and accountability. SoCalGas will likewise vigorously defend how it operated its system in response to this emergency event. SoCalGas also intends to pursue recovery from Edison for damages to the SoCalGas system through all available causes of action and remedies. SoCalGas is reviewing the allegations in the cross-complaint. SoCalGas has insurance, including wildfire insurance, and intends to pursue coverage for the damages related to its system as well as coverage to defend both Edison's claims in the Eaton fire litigation and pending lawsuits brought by individual plaintiffs related to the Palisades fire. SoCalGas employees worked tirelessly during this emergency and continue to support our customers and communities still recovering from last year's devastating fires. For over a year now, SoCalGas has worked diligently, in close coordination with local and state officials, to assess the impacts of the fires on SoCalGas' infrastructure, make necessary repairs, and safely restore service to thousands of customers. About SoCalGas SoCalGas is the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California. Our mission is: Safe, Reliable, and Affordable energy delivery today. Ready for tomorrow. SoCalGas is a recognized leader in the energy industry and has been named Corporate Member of the Year by the Los Angeles Chamber of Commerce for its volunteer leadership in the communities it serves. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading North American energy infrastructure company. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas. This media statement contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this media statement. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this media statement, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "pro forma," "strategic," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, denials of cost recovery, audits, investigations, inquiries, ordered studies, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks related to, as applicable, (i) negotiating pricing and other terms in definitive contracts, (ii) completing construction projects or other transactions on schedule and budget, (iii) realizing anticipated benefits from any of these efforts if completed, (iv) obtaining regulatory and other approvals and (v) third parties honoring their contracts and commitments; changes to our capital expenditure plans and their potential impact on rate base or other growth; changes, due to evolving economic, political and other factors, to (i) trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries, and (ii) laws and regulations, including those related to tax; litigation, arbitration, property disputes and other proceedings; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, which can be affected by, among other things, (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, and (iii) fluctuating interest rates and inflation; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and the imposition of tariffs and (ii) the cost of meeting the demand for lower carbon and reliable energy in California; the impact of climate policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage and transportation capacity, including disruptions caused by failures in the pipeline and storage systems or limitations on the injection and withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com . Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, nor are they regulated by the CPUC. SOURCE Southern California Gas Company
SDG&E® Named Most Reliable Utility in the West for 20th Straight Year
SAN DIEGO, Dec. 2, 2025 /PRNewswire/ -- For an unprecedented 20th year in a row, San Diego Gas & Electric ® (SDG&E) has been awarded the ReliabilityOne ® Award for Outstanding Reliability Performance in the Western Region by PA Consulting. This milestone achievement underscores the company's long-term commitment to critical investments that enhance grid resilience and reliability for millions of consumers.SDG&E's reliability performance has outpaced that of its western peers, thanks to decades of strategic investments and forward-thinking initiatives. From modernizing infrastructure with advanced technologies to deploying predictive analytics that anticipate and help prevent outages, SDG&E has been a leader in reliability in the region. These efforts include implementing robust safety programs, upgrading transmission and distribution systems, and integrating smart-grid capabilities, all designed to help customers experience fewer and shorter interruptions. Delivering reliable service 24/7, 365 days a year requires more than technology. It demands a highly skilled workforce, a resilient supply chain, and trusted contractor partnerships. SDG&E's dedicated crews work around the clock to maintain and restore service quickly, supported by a network of suppliers and contractors who deliver critical materials and resources when needed. This collaborative approach, combined with rigorous planning and operational excellence, has enabled SDG&E to keep homes and businesses powered safely and reliably, no matter the challenge. "This award is a reflection of our commitment to providing exceptional reliability and service to our customers and communities," said Scott Crider, President of SDG&E. "We're integrating new technologies and improving infrastructure while being mindful of how energy costs impact families and businesses. I'm proud of our 4,300 employees for turning innovation into action and developing a more sustainable energy system for the future." Delivering Excellence for Customers: A Journey of Strategic InvestmentSDG&E's 20-year reliability journey is marked by first-of-their-kind investments and the deployment of cutting-edge technology to create a safer, more resilient and reliable energy system for 3.4 million consumers. Grid Enhancements: Strengthened reliability by replacing older underground cables and overhead lines, adding smart switches that help limit outages, and improving restoration processes to restore power faster. The company has also enhanced the customer experience with real-time outage updates and an easy-to-use online tracking tool. SDG&E's modernized data systems make quicker, data-driven decisions and analyze outages more effectively, helping keep service dependable for the communities it serves. Deploy Predictive and Automated Technology: Integrated a suite of advanced technologies, including a network of high-definition cameras and artificial intelligence for early fire detection. Advanced sectionalizing devices allow the grid to automatically isolate and contain outages, preventing more widespread power losses. Culture of Safety: California's first utility to earn Cal/OSHA's elite VPP safety certification for one of its facilities, exceeding industry standards for operational excellence. This recognition highlights SDG&E's focus on workplace safety and innovation – reinforcing its commitment to protecting employees and delivering safe, resilient energy infrastructure. "Utilities such as SDG&E are committed to delivering reliable service, enhancing resiliency, and maintaining affordability for their customers," said PA's ReliabilityOne ® Program Director Derek HasBrouck. "Increasingly, technology is being used to augment existing capabilities and improve overall system efficiency. These advancements include more accurate estimated restoration times, the implementation of advanced control systems that allow operators to manage infrastructure through a single user interface, and the integration of hardware and software to streamline restoration efforts. At the same time, utilities are continuing to refine and leverage technology to keep rates affordable and accessible for all customers. At PA, we're proud to be working with utilities that are embracing this kind of innovation to meet evolving customer expectations." To learn more about SDG&E and its initiatives, visit SDGEtoday.com. About PA ConsultingPA Consulting's ReliabilityOne ® awards are presented to electric utilities providing their customers with the highest levels of reliability in the industry. PA Consulting's ReliabilityOne ® study is based on standard industry reliability statistics that measure the frequency and duration of electric power outages. ReliabilityOne ® participants on average experienced 55% fewer sustained outages, and outages were 70% shorter than the average US investor-owned utility. PA Consulting has been analyzing electric-utility performance since 1987. About SDG&ESDG&E is an innovative, energy-delivery company that provides clean, safe, and reliable energy to better the lives of the people it serves in San Diego and southern Orange counties. The company is committed to creating a sustainable future by increasing energy delivered from low- or zero-carbon sources; accelerating the adoption of electric vehicles; and investing in innovative technologies to ensure the reliable operation of the region's infrastructure for generations to come. SDG&E is a recognized leader in its industry and community, as demonstrated by being named Corporate Partner of the Year at the San Diego Business Journal's Nonprofit & Corporate Citizenship Awards and receiving PA Consulting's ReliabilityOne ® Award for Outstanding Reliability Performance for 20 consecutive years. SDG&E is a subsidiary of Sempra (NYSE: SRE), a leading North American energy-infrastructure company. For more information, visit SDGEtoday.com or connect with SDG&E on social media @SDGE. SOURCE San Diego Gas & Electric (SDG&E)
Sempra Recognized Among 'America's Best Employers for Company Culture' by Forbes
SAN DIEGO, Nov. 24, 2025 /PRNewswire/ -- Sempra (NYSE: SRE) today announced it has been named one of "America's Best Employers for Company Culture" by Forbes, recognition that reflects the company's commitment to building a workplace where people grow, innovate and shape the future of energy. "At Sempra, there is a strong commitment to building a high-performance culture. That is because efforts to modernize energy systems to serve the needs of customers demand exceptional talent and a culture that empowers every individual to thrive," said Lisa Larroque Alexander, senior vice president and chief human resources officer at Sempra. "By investing in our high-performance culture, we're advancing our business while helping shape a brighter, more resilient future for our stakeholders. We're honored that Forbes recognizes Sempra's commitment to championing our people." Forbes' inaugural list, developed in partnership with market research firm Statista, surveyed more than 200,000 U.S.-based employees at companies with 1,000 or more team members. Respondents evaluated their employers on culture-defining qualities such as fairness, acceptance and opportunity. Sempra was selected for its strong employee experience and inclusive, high-performance culture. This recognition adds to a growing list of accolades for Sempra's workplace excellence in 2025, including: Fortune's World's Most Admired Companies U.S. News & World Report's Best Companies to Work For Viqtory, Inc's Military-Friendly Employer Together, these honors reflect Sempra's ongoing investment in a culture that fosters innovation and opportunity across its dynamic workforce. Across its family of companies, Sempra fosters an environment where approximately 20,000 employees are empowered to do meaningful work, grow their careers and contribute to the communities they serve. About Sempra Sempra is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets, including California, Texas, Mexico and global energy markets. The company is recognized as a leader in sustainable business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in the Dow Jones Sustainability Index North America. More information about Sempra is available at sempra.com and on social media @Sempra. SOURCE Sempra
SoCalGas Declares Preferred Dividends
LOS ANGELES, Nov. 18, 2025 /PRNewswire/ -- The board of directors of Southern California Gas Company (SoCalGas) has declared regular quarterly dividends for the preferred series stock of the company as follows: SoCalGas: Preferred Stock $0.375 per share Preferred Stock, Series A $0.375 per share The dividends are payable on January 15, 2026, to shareholders of record on December 10, 2025. About SoCalGas SoCalGas is the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California. Our mission is: Safe, Reliable, and Affordable energy delivery today. Ready for tomorrow. SoCalGas is a recognized leader in the energy industry and has been named Corporate Member of the Year by the Los Angeles Chamber of Commerce for its volunteer leadership in the communities it serves. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading North American energy infrastructure company. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas. SOURCE Southern California Gas Company
Sempra Declares Common Dividend
SAN DIEGO, Nov. 6, 2025 /PRNewswire/ -- Sempra (NYSE: SRE) today announced that its board of directors has declared a $0.645 per share quarterly dividend on the company's common stock, which is payable Jan. 15, 2026, to common stock shareholders of record at the close of business on Dec. 11, 2025. About Sempra Sempra is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets, including California, Texas, Mexico and global energy markets. The company is recognized as a leader in sustainable business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in the Dow Jones Sustainability Index North America. More information about Sempra is available at sempra.com and on social media @Sempra. SOURCE Sempra

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*As of December 31, 2025. Numbers may be approximate.

Sempra Infrastructure Partners and its subsidiaries, and the Sempra Texas utilities (Oncor and Sharyland Utilities) are not the same companies as the Sempra California utilities, SDG&E or SoCalGas, nor are they regulated by the California Public Utilities Commission (CPUC).