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Displaying results 16 - 30 of 1206
SoCalGas Board of Directors Approves Retirement of All Outstanding Shares of Preferred Stock
LOS ANGELES, Aug. 7, 2026 /PRNewswire/ -- Southern California Gas Company ("SoCalGas") today announced that its board of directors has approved the retirement (the "Retirement") of all outstanding shares of the company's 6% Preferred Stock, $25 par value ("Preferred Stock"), and 6% Preferred Stock, Series A, $25 par value ("Series A Preferred Stock"). SoCalGas is effecting the Retirement to simplify its capital structure while delivering immediate value to shareholders, all as part of its efforts to modernize its business and serve its stakeholders. The approval by the board of directors follows shareholder approval of the amendment and restatement of the company's Restated Articles of Incorporation that implements the Retirement and makes certain other related changes (as so amended and restated, the "Restated Charter") at a special meeting of SoCalGas shareholders held on Aug. 6, 2026. SoCalGas plans to file the Restated Charter with the California Secretary of State on Aug. 17, 2026 (the "Retirement Date"). On the Retirement Date, each outstanding share of the company's Preferred Stock and Series A Preferred Stock will be automatically retired in exchange for a cash payment of $31.135616 per share (the "Retirement Payment"), constituting $31.00 per share plus accrued and unpaid dividends thereon to but excluding the Retirement Date. The Retirement Payment is payable on the Retirement Date, to holders of record of the Preferred Stock and Series A Preferred Stock on such date. Following the Retirement, no shares of Preferred Stock or Series A Preferred Stock will be outstanding, and certificates or book entries representing such retired shares will represent only the receipt of or right to receive the Retirement Payment. In the interest of facilitating an orderly retirement process, SoCalGas plans to voluntarily withdraw both the Preferred Stock (OTCQB: SOCGM) and the Series A Preferred Stock (OTCQB: SOCGP) from quotation on the OTCQB market, effective after market close on Aug. 13, 2026. About SoCalGasSoCalGas 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 U.S. utility growth business. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas. Message Funded by Shareholders SOURCE Southern California Gas Company
Sempra Reports Strong Second-Quarter 2026 Results
SAN DIEGO, Aug. 6, 2026 /PRNewswire/ -- Sempra (NYSE: SRE) today reported second-quarter 2026 earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), of $796 million or $1.21 per diluted share, compared to second-quarter 2025 GAAP earnings of $461 million or $0.71 per diluted share. On an adjusted basis, second-quarter 2026 earnings were $762 million or $1.16 per diluted share, compared to $583 million or $0.89 per diluted share in 2025. "Across our management team, there is a consistent emphasis on execution, and our progress through the first half of the year is reflected in strong financial performance," said Jeffrey W. Martin, chairman and CEO of Sempra. "I could not be more proud of our employees and their commitment to innovation and continuous improvement, as we look to find new and better ways to serve customers." 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 second-quarter 2026 and 2025. (Dollars and shares in millions, except EPS) Three months ended June 30, Six months ended June 30, 2026 2025 2026 2025 GAAP Earnings $ 796 $ 461 $ 1,833 $ 1,367 Impact from regulatory disallowances — 25 — 25 Impact from foreign currency and inflation on monetary positions in Mexico and associated undesignated derivatives 71 97 52 89 Net unrealized (gains) losses on derivatives (82) (25) (85) 10 Net unrealized (gains) losses on interest rate swaps related to Port Arthur LNG Phase 1 project (3) (1) 8 8 Tax items related to assets held for sale (20) 26 (55) 26 Adjusted Earnings (1) $ 762 $ 583 $ 1,753 $ 1,525 Diluted Weighted-Average Common Shares Outstanding 656 653 656 653 GAAP EPS $ 1.21 $ 0.71 $ 2.80 $ 2.09 Adjusted EPS (1) $ 1.16 $ 0.89 $ 2.67 $ 2.34 (1) See Table A for information regarding non-GAAP financial measures. Advancing Value Creation Initiatives During the second quarter, Sempra continued executing on a series of value creation initiatives to further its mission of building America's leading utility growth business. Taken together, these initiatives are designed to simplify the company's strategy, strengthen its financial position and support long-term utility growth. In the first half of 2026, Sempra's businesses invested capital expenditures of over $6 billion to support safe, reliable and affordable energy for the communities we serve. These investments are part of Sempra's record five-year 2026-2030 capital plan of approximately $65 billion, with 95% allocated to investments at our Texas and California utilities. Sempra Texas Sempra continues to see strong growth opportunities in Texas through its investment in Oncor Electric Delivery Company LLC (Oncor). During the quarter, Oncor's new base rates became effective June 1. In addition, Oncor filed the surcharge that was approved through its recent base rate review. The surcharge, which took effect August 1, recovers the difference between the new base rates and the rates in effect from January 1 to June 1, 2026. The updated base rates better align Oncor's cost structure with today's operating environment, strengthen its financial profile and support continued infrastructure investments to meet Texas' growing energy needs. Texas continues to experience unprecedented growth in electric demand as evidenced by Electric Reliability Council of Texas' (ERCOT) new all-time peak load of 91 gigawatts (GW) set in July. Continued growth in demand is leading to a series of new opportunities to invest in the electric grid. Earlier this year, ERCOT endorsed a series of high-voltage transmission projects expected to require more than $7 billion of incremental investment, supporting approximately 16 GW of new electric demand with anticipated in-service dates between 2026 and 2034. Oncor expects to construct the majority of those projects, which are subject to regulatory approval. Also, the Public Utility Commission of Texas recently approved ERCOT's Batch Zero process, establishing a standardized framework intended to streamline large-load interconnections and support growing demand across the electric grid. While the timeline of the Batch Zero process remains to be determined, approximately 44 GW of large-load requests in Oncor's service territory are expected to be eligible as base or studied load, consisting of approximately 27 GW of base load and 17 GW of studied load. The referenced 44 GW also includes 8 GW of existing interconnected large load that is ramping up to its authorized capacity. The projects reflect significant customer commitment through financial security, site control and other ERCOT qualification requirements, reinforcing the substantial demand for infrastructure investment across Oncor's service territory. For context, if fully realized, these requests would represent over 140% growth relative to Oncor's current system peak load of 31 GW. Sempra California In California, Sempra's utilities remained focused on advancing safety, reliability and affordability for customers. During the quarter, San Diego Gas & Electric (SDGE) and Southern California Gas Company (SoCalGas) filed their 2028 General Rate Case (GRC) applications. Together, these GRC applications demonstrate a balanced approach to advancing critical safety and reliability investments supporting wildfire risk reduction, electric reliability and resilience, and pipeline safety, while maintaining disciplined cost management and a focus on customer affordability. Regulatory momentum continued in the quarter, including the approval by the Federal Energy Regulatory Commission of SDGE's electric transmission rate, or TO6, settlement. The settlement provides a constructive outcome for SDGE's transmission business, including an authorized base return on equity of approximately 10.28% and a supportive regulatory framework for continued transmission investment. Additionally, the California Independent System Operator's 2025–2026 Transmission Plan included over $160 million of reliability-driven projects for SDGE, further supporting grid resilience. Sempra California also continued to advance innovation and deliver meaningful benefits for customers. SoCalGas estimates that its energy efficiency programs helped customers save more than $100 million on their utility bills last year, while SDGE expanded its battery energy storage capacity in the second quarter to support grid reliability. In addition, SDGE launched a collaboration with Qualcomm Technologies, Inc. and the University of California San Diego's Scripps Institution of Oceanography to develop edge-based artificial intelligence technology aimed at enhancing extreme-weather response capabilities. In combination, these efforts reflect Sempra California's broader commitment to safety, innovation and long-term system reliability. Sempra Infrastructure Partners Strategic Updates The transaction to sell a 45% equity interest in Sempra Infrastructure Partners to affiliates of KKR remains on track and is expected to close in the third quarter of 2026, subject to required approvals and customary closing conditions. The planned sale of Ecogas México, S. de R.L. de C.V. continues to advance following the recent approval without condition by Mexico's antitrust authority and is expected to close in August. These transactions further Sempra's capital recycling program with a view toward simplifying the company's strategy, strengthening its financial position and supporting long-term utility growth. Earnings Guidance Sempra is updating its full-year 2026 GAAP earnings-per-common share (EPS) guidance range to $5.02 to $5.55, reflecting actual results through the second quarter, affirming its 2026 adjusted EPS guidance range of $4.80 to $5.30 and affirming its full-year 2027 EPS guidance range of $5.10 to $5.70. Sempra is also affirming a 7% to 9% projected long‑term EPS growth rate. 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, including investor.sempra.com/corporate-updates which contains important information for investors, and on social media @sempra. We use the investor.sempra.com/corporate-updates webpage as a means of disclosing important information to investors, some of which may be material, and complying with our disclosure obligations under SEC Regulation FD. The information on this webpage is supplemental to the information we disseminate to investors through other channels, including filings with the SEC, press releases, and public conference calls and webcasts, and investors should monitor all these sources for material information about us. 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, legislative actions, 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, Electric Reliability Council of Texas, Inc., 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 and increasing geopolitical instability as a result of wars or other conflicts in various parts of the world, to (i) trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries (and uncertainty related to the implementation and enforceability thereof), 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 air quality and climate-related 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 and reliability 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, http://www.sempra.com. Investors should not rely unduly on any forward-looking statements. 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). 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 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in millions, except per share amounts; shares in thousands) Three months ended June 30, Six months ended June 30, 2026 2025 2026 2025 REVENUES Utilities: Natural gas $ 1,364 $ 1,470 $ 3,389 $ 3,832 Electric 1,158 1,031 2,382 2,090 Energy-related businesses 475 499 881 880 Total revenues 2,997 3,000 6,652 6,802 EXPENSES AND OTHER INCOME Utilities: Cost of natural gas (63) (183) (398) (676) Cost of electric fuel and purchased power (114) (91) (195) (143) Energy-related businesses cost of sales 69 (85) (7) (204) Operation and maintenance (1,251) (1,239) (2,493) (2,582) Depreciation and amortization (612) (653) (1,233) (1,293) Franchise fees and other taxes (194) (165) (404) (361) Other income, net 67 59 167 150 Interest income 38 14 78 48 Interest expense (430) (359) (812) (792) Income before income taxes and equity earnings 507 298 1,355 949 Income tax expense (112) (172) (177) (229) Equity earnings 547 393 914 718 Net income 942 519 2,092 1,438 Earnings attributable to noncontrolling interests (141) (46) (248) (48) Earnings attributable to contingently redeemable noncontrolling interest (4) — (10) — Preferred dividends — (11) — (22) Preferred dividends of subsidiary (1) (1) (1) (1) Earnings attributable to common shares $ 796 $ 461 $ 1,833 $ 1,367 Basic earnings per common share (EPS): Earnings $ 1.22 $ 0.71 $ 2.80 $ 2.10 Weighted-average common shares outstanding 654,038 652,664 653,815 652,330 Diluted EPS: Earnings $ 1.21 $ 0.71 $ 2.80 $ 2.09 Weighted-average common shares outstanding 655,945 653,224 655,718 653,123 SEMPRA Table A (Continued) Sempra Adjusted Earnings and Adjusted EPS 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 associated undesignated derivatives 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 2026 and 2025 as follows: Three months ended June 30, 2026: $(71) million impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives $82 million net unrealized gains on commodity derivatives $3 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) $20 million net income tax benefit as a result of classifying 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: $21 million income tax benefit to adjust deferred income tax liabilities primarily related to outside basis differences in our investment in SI Partners $(1) million income tax expense to adjust a Mexican deferred tax liability on our outside basis difference in our investment in Ecogas Three months ended June 30, 2025: $(25) million impact from regulatory disallowances related to the recovery of coronavirus disease 2019 (COVID-19) costs at Sempra California $(97) million impact from foreign currency and inflation on our monetary positions in Mexico $25 million net unrealized gains on commodity derivatives $1 million net unrealized gains on interest rate swaps related to the PA LNG Phase 1 project $(26) million income tax expense due to the recognition of a Mexican deferred tax liability on the outside basis difference in our investment in Ecogas as a result of classifying the asset as held for sale Six months ended June 30, 2026: $(52) million impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives $85 million net unrealized gains on commodity derivatives $(8) million net unrealized losses on interest rate swaps related to the PA LNG Phase 1 project $55 million income tax benefit as a result of classifying SI Partners and Ecogas as held for sale, which such amounts could change in future periods until the dates of sale: $54 million income tax benefit to adjust deferred income tax liabilities primarily related to outside basis differences in our investment in SI Partners $1 million income tax benefit to adjust a Mexican deferred tax liability on the outside basis difference in our investment in Ecogas Six months ended June 30, 2025: $(25) million impact from regulatory disallowances related to the recovery of COVID-19 costs at Sempra California $(89) million impact from foreign currency and inflation on our monetary positions in Mexico $(10) million net unrealized losses on commodity derivatives $(8) million net unrealized losses on interest rate swaps related to the PA LNG Phase 1 project $(26) million income tax expense due to the recognition of a Mexican deferred tax liability on the outside basis difference in our investment in Ecogas as a result of classifying the asset as held for sale The table below reconciles 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. RECONCILIATION OF ADJUSTED EARNINGS AND ADJUSTED EPS TO GAAP EARNINGS AND GAAP EPS (Dollars in millions, except per share amounts; shares in thousands) Pretax amount Income tax expense (benefit) (1) Non- controlling interests Earnings Diluted EPS Pretax amount Income tax (benefit) expense (1) Non- controlling interests Earnings Diluted EPS Three months ended June 30, 2026 Three months ended June 30, 2025 Sempra GAAP Earnings and GAAP EPS $ 796 $ 1.21 $ 461 $ 0.71 Excluded items: Impact from regulatory disallowances $ — $ — $ — — — $ 36 $ (11) $ — 25 0.04 Impact from foreign currency and inflation on monetary positions in Mexico and associated undesignated derivatives 60 38 (27) 71 0.11 24 122 (49) 97 0.14 Net unrealized gains on commodity derivatives (182) 33 67 (82) (0.13) (46) 6 15 (25) (0.04) Net unrealized gains on interest rate swaps related to PA LNG Phase 1 project (21) 1 17 (3) — (9) 1 7 (1) — Tax items related to assets held for sale — (20) — (20) (0.03) — 38 (12) 26 0.04 Sempra Adjusted Earnings and Adjusted EPS $ 762 $ 1.16 $ 583 $ 0.89 Weighted-average common shares outstanding, diluted 655,945 653,224 Six months ended June 30, 2026 Six months ended June 30, 2025 Sempra GAAP Earnings and GAAP EPS $ 1,833 $ 2.80 $ 1,367 $ 2.09 Excluded items: Impact from regulatory disallowances $ — $ — $ — — — $ 36 $ (11) $ — 25 0.04 Impact from foreign currency and inflation on monetary positions in Mexico and associated undesignated derivatives 49 20 (17) 52 0.07 22 112 (45) 89 0.14 Net unrealized (gains) losses on commodity derivatives (173) 38 50 (85) (0.13) 23 (9) (4) 10 0.02 Net unrealized losses on interest rate swaps related to PA LNG Phase 1 project 54 (3) (43) 8 0.01 56 (3) (45) 8 0.01 Tax items related to assets held for sale — (56) 1 (55) (0.08) — 38 (12) 26 0.04 Sempra Adjusted Earnings and Adjusted EPS $ 1,753 $ 2.67 $ 1,525 $ 2.34 Weighted-average common shares outstanding, diluted 655,718 653,123 (1) Except for adjustments that are solely income tax and tax related to outside basis differences, income taxes on pretax amounts were primarily calculated based on applicable statutory tax rates. SEMPRA Table A (Continued) Sempra 2026 Adjusted EPS Guidance is a non-GAAP financial measure. This non-GAAP financial measure excludes significant items that are generally not related to our ongoing business activities and/or infrequent in nature. This non-GAAP financial measure also excludes the impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives and net unrealized gains and losses on commodity and interest rate derivatives for the six months ended June 30, 2026, 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. Because we cannot reasonably estimate the forward-looking amount or range of amounts of reasonably estimable GAAP amounts, this non-GAAP financial measure does not contemplate the anticipated impacts 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 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 ancillary costs associated with the sale of SI Partners We expect to complete the sale of SI Partners in the third quarter of 2026, which we expect to be accretive. Sempra 2026 Adjusted EPS Guidance Range should not be considered an alternative to Sempra 2026 GAAP EPS Guidance Range. 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 2026 ADJUSTED EPS GUIDANCE RANGE TO SEMPRA 2026 GAAP EPS GUIDANCE RANGE Sempra 2026 Adjusted EPS Guidance Range of $4.80 to $5.30 excludes items (after the effects of income taxes and, if applicable, NCI) for the six months ended June 30, 2026 as follows: $(52) million impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives $85 million net unrealized gains on commodity derivatives $(8) million net unrealized losses on interest rate swaps related to the PA LNG Phase 1 project $55 million income tax benefit as a result of classifying SI Partners and Ecogas as held for sale, which such amounts could change in future periods until the dates of sale: $54 million income tax benefit to adjust deferred income tax liabilities primarily related to outside basis differences in our investment in SI Partners $1 million income tax benefit to adjust a Mexican deferred tax liability on the outside basis difference in our investment in Ecogas a gain on sale of Ecogas ranging from approximately $165 million ($57 million after tax and NCI) to $205 million ($77 million after tax and NCI), which SI Partners expects to complete in August 2026 The table below reconciles Sempra 2026 Adjusted EPS Guidance Range to Sempra 2026 GAAP EPS Guidance Range, which we consider to be the most directly comparable financial measure calculated in accordance with GAAP. RECONCILIATION OF ADJUSTED EPS GUIDANCE RANGE TO GAAP EPS GUIDANCE RANGE Full-Year 2026 Sempra GAAP EPS Guidance Range $ 5.02 to $ 5.55 Excluded items: Impact from foreign currency and inflation on monetary positions in Mexico and associated undesignated derivatives 0.07 0.07 Net unrealized gains on commodity derivatives (0.13) (0.13) Net unrealized losses on interest rate swaps related to PA LNG Phase 1 project 0.01 0.01 Tax items related to assets held for sale (0.08) (0.08) Estimated gain on sale of Ecogas (0.09) (0.12) Sempra Adjusted EPS Guidance Range $ 4.80 to $ 5.30 Weighted-average common shares outstanding, diluted (millions) 655 SEMPRA Table B CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions) June 30, December 31, 2026 2025 (1) ASSETS Current assets: Cash and cash equivalents $ 48 $ 29 Restricted cash 2 2 Accounts receivable – trade, net 1,442 1,767 Accounts receivable – other, net 190 157 Due from unconsolidated affiliates 45 — Income taxes receivable 252 71 Inventories 496 561 Regulatory assets 511 761 Greenhouse gas allowances 196 203 Assets held for sale 32,939 31,024 Other current assets 169 262 Total current assets 36,290 34,837 Other assets: Regulatory assets 4,297 3,868 Greenhouse gas allowances 1,498 1,221 Nuclear decommissioning trusts 920 899 Dedicated assets in support of certain benefit plans 617 605 Deferred income taxes 10 10 Right-of-use assets – operating leases 1,279 1,262 Investment in Oncor Holdings 19,002 17,472 Other investments 150 147 Wildfire fund 235 246 Other long-term assets 1,247 1,300 Total other assets 29,255 27,030 Property, plant and equipment, net 49,736 49,011 Total assets $ 115,281 $ 110,878 (1) Derived from audited financial statements. SEMPRA Table B (Continued) CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions) June 30, December 31, 2026 2025 (1) LIABILITIES, CONTINGENTLY REDEEMABLE NONCONTROLLING INTEREST, AND EQUITY Current liabilities: Short-term debt $ 3,566 $ 4,166 Accounts payable – trade 1,225 1,461 Accounts payable – other 198 203 Due to unconsolidated affiliates — 8 Dividends and interest payable 807 770 Accrued compensation and benefits 358 521 Regulatory liabilities 3 3 Current portion of long-term debt and finance leases 2,075 1,876 Greenhouse gas obligations 196 203 Liabilities held for sale 12,992 11,704 Other current liabilities 685 979 Total current liabilities 22,105 21,894 Long-term debt and finance leases 31,023 28,979 Deferred credits and other liabilities: Regulatory liabilities 4,396 4,250 Greenhouse gas obligations 1,164 957 Pension and other postretirement benefit plan obligations, net of plan assets 119 124 Deferred income taxes 6,505 6,127 Asset retirement obligations 3,816 3,743 Deferred credits and other 2,847 2,805 Total deferred credits and other liabilities 18,847 18,006 Contingently redeemable noncontrolling interest 3,308 3,206 Equity: Sempra shareholders' equity 32,685 31,594 Preferred stock of subsidiary 20 20 Other noncontrolling interests 7,293 7,179 Total equity 39,998 38,793 Total liabilities, contingently redeemable noncontrolling interest, and equity $ 115,281 $ 110,878 (1) Derived from audited financial statements. SEMPRA Table C CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Dollars in millions) Six months ended June 30, 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 2,092 $ 1,438 Adjustments to reconcile net income to net cash provided by operating activities 456 797 Net change in working capital components 268 (498) Distributions from investments 721 516 Changes in other noncurrent assets and liabilities, net (420) 13 Net cash provided by operating activities 3,117 2,266 CASH FLOWS FROM INVESTING ACTIVITIES Expenditures for property, plant and equipment (4,687) (4,640) Expenditures for investments (1,485) (972) Purchases of nuclear decommissioning and other trust assets (650) (531) Proceeds from sales of nuclear decommissioning and other trust assets 679 580 Advances to unconsolidated affiliates (30) — Other 9 — Net cash used in investing activities (6,164) (5,563) CASH FLOWS FROM FINANCING ACTIVITIES Common dividends paid (826) (787) Preferred dividends paid — (22) Issuances of common stock, net 30 19 Repurchases of common stock (21) (58) Issuances of debt (maturities greater than 90 days) 8,092 5,458 Payments on debt (maturities greater than 90 days) and finance leases (4,544) (3,411) (Decrease) increase in short-term debt, net (600) 682 Advances from unconsolidated affiliates 79 44 Contributions from noncontrolling interests 74 83 Distributions to noncontrolling interests (135) (91) Termination of interest rate swaps, net of transaction costs 96 — Other (51) (26) Net cash provided by financing activities 2,194 1,891 Effect of exchange rate changes on cash, cash equivalents and restricted cash 1 1 Decrease in cash, cash equivalents and restricted cash (852) (1,405) Cash, cash equivalents and restricted cash, January 1 3,552 1,589 Cash, cash equivalents and restricted cash, June 30 $ 2,700 $ 184 SEMPRA Table D SEGMENT EARNINGS (LOSSES) AND CAPITAL EXPENDITURES (Dollars in millions) Three months ended June 30, Six months ended June 30, 2026 2025 2026 2025 EARNINGS (LOSSES) ATTRIBUTABLE TO COMMON SHARES Sempra California $ 297 $ 259 $ 1,017 $ 983 Sempra Texas Utilities 346 208 517 354 Sempra Infrastructure 230 72 492 218 Segment earnings attributable to common shares 873 539 2,026 1,555 Parent and other (77) (78) (193) (188) Sempra earnings attributable to common shares $ 796 $ 461 $ 1,833 $ 1,367 CAPITAL EXPENDITURES FOR PROPERTY, PLANT AND EQUIPMENT Sempra California $ 934 $ 1,221 $ 1,901 $ 2,315 Sempra Infrastructure 1,291 1,081 2,784 2,322 Segment totals 2,225 2,302 4,685 4,637 Parent and other 1 2 2 3 Total Sempra $ 2,226 $ 2,304 $ 4,687 $ 4,640 CAPITAL EXPENDITURES FOR INVESTMENTS Sempra Texas Utilities $ 609 $ 485 $ 1,485 $ 971 Sempra Infrastructure — 1 — 1 Total Sempra $ 609 $ 486 $ 1,485 $ 972 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 % (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% ownership 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'S CAPITAL DEPLOYED (Dollars in billions) Total Sempra Six months ended June 30, 2026 Capital expenditures for PP&E and investments – GAAP $ 6.2 Capital expenditures to unconsolidated entities (1) (1.5) Capital expenditures at unconsolidated entities (2) 3.2 Capital expenditures attributable to NCI owners (3) (1.8) Capital deployed $ 6.1 (1) Represents Sempra's actual capital contributions to unconsolidated equity method investees. (2) Represents Sempra's proportionate ownership interest in actual capital expenditures at unconsolidated equity method investees. (3) Represents NCI's proportionate ownership interest in actual capital expenditures at Sempra and at unconsolidated equity method investees. SEMPRA Table E OTHER OPERATING STATISTICS Three months ended June 30, Six months ended June 30, 2026 2025 2026 2025 UTILITIES Sempra California Gas sales (Bcf) (1) 68 75 161 191 Transportation (Bcf) (1) 106 114 213 245 Total deliveries (Bcf) (1) 174 189 374 436 Total gas customer meters (thousands) 7,147 7,135 Electric sales (millions of kWhs) (1) 632 610 1,320 1,325 Community Choice Aggregation and Direct Access (millions of kWhs) 3,259 3,104 6,558 6,536 Total deliveries (millions of kWhs) (1) 3,891 3,714 7,878 7,861 Total electric customer meters (thousands) 1,554 1,540 Oncor Electric Delivery Company LLC (Oncor) (2) Total deliveries (millions of kWhs) 44,595 42,226 84,784 81,232 Total electric customer meters (thousands) 4,141 4,084 Ecogas Natural gas sales (Bcf) 1 1 2 2 Natural gas customer meters (thousands) 173 166 ENERGY-RELATED BUSINESSES Sempra Infrastructure Termoeléctrica de Mexicali (millions of kWhs) 492 776 1,269 1,478 Wind and solar (millions of kWhs) (1) 971 842 1,710 1,588 (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. SEMPRA Table F STATEMENTS OF OPERATIONS DATA BY SEGMENT (Dollars in millions) Sempra California Sempra Texas Utilities (1) Sempra Infrastructure Segment Totals Consolidating Adjustments, Parent & Other Total Three months ended June 30, 2026 Revenues $ 2,511 $ 512 $ 3,023 $ (26) $ 2,997 Operation and maintenance (995) (229) (1,224) (27) (1,251) Depreciation and amortization (607) (3) (610) (2) (612) Interest income 5 26 31 7 38 Interest expense (2) (256) (10) (266) (164) (430) Income tax (expense) benefit (39) (157) (196) 84 (112) Equity earnings $ 348 199 547 547 Earnings attributable to noncontrolling interests (141) (141) (141) Earnings attributable to contingently redeemable noncontrolling interest (4) (4) (4) Other segment items (3) (322) (2) 37 (287) 51 (236) Earnings (losses) attributable to common shares $ 297 $ 346 $ 230 $ 873 $ (77) $ 796 Three months ended
Sempra Infrastructure Advances Key Priorities
HOUSTON, July 27, 2026 /PRNewswire/ -- Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE), continues to advance a series of key priorities in support of its corporate strategy. One of Sempra Infrastructure's key priorities is the completion of the ECA LNG Phase 1 project, a one-train natural gas liquefaction facility in Ensenada, Mexico. The project achieved mechanical completion in December 2025 and introduced feed gas into the facility in April 2026. Moreover, the project achieved first liquefied natural gas (LNG) production as part of the commissioning process in June 2026 and loaded and shipped its first cargo earlier this month. Today, the project announced that it is extending its commissioning process. Following the export of its first cargo, the plant was shut down for planned inspections, during which time damage was discovered in the project's refrigerant compressors. Subject to completion of a root cause investigation and the execution of the remediation workstreams being consistent with management expectations, the project is expected to reach substantial completion in the fourth quarter of 2026, with sales under long-term sale and purchase agreements commencing shortly thereafter. Notwithstanding the extension of the commissioning process, Sempra Infrastructure has had strong year-to-date performance and does not anticipate a reduction in its planned earnings contributions relative to Sempra's segment guidance ranges for 2026 and 2027. In addition to the commissioning process at ECA LNG Phase 1, the company is also advancing construction on Port Arthur LNG Phases 1 and 2, a world-class LNG export facility in Port Arthur, Texas. In total, the completion of both phases of construction is expected to add 26 million tonnes per annum (Mtpa) of new nameplate export capacity to the company's growing portfolio of LNG facilities. Construction at both facilities continues to remain on time and on budget. Additionally, the Port Arthur Pipeline Louisiana Connector has been placed in-service, and the associated LA Storage project remains on time and on budget. Both projects will support natural gas supply to the Port Arthur LNG facility. The company also continues to make advancements on the planned sale of Ecogas México, S. de R.L. de C.V. (Ecogas). The transaction was approved without condition by the Comisión Nacional Antimonopolio (CNA) last week. With the CNA's approval, the sale of Ecogas and its utility assets is expected to close in August. The transaction is expected to generate approximately $500 million in proceeds, while supporting Sempra Infrastructure's strategy of recycling capital to continue developing, building and operating large-scale energy infrastructure. About Sempra Infrastructure Sempra Infrastructure, headquartered in Houston, is focused on delivering energy for a better world by developing, building, operating and investing in modern energy infrastructure, such as LNG, energy networks and low-carbon solutions that are expected to play a crucial role in the energy systems of the future. Through the combined strength of its assets in North America, Sempra Infrastructure is connecting customers to safe and reliable energy and advancing energy security. Sempra Infrastructure is a subsidiary of Sempra (NYSE: SRE), a leading utility growth company. For more information, visit SempraInfrastructure.com or connect with Sempra Infrastructure on social media @SempraInfra. 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, audits, investigations, inquiries, regulations, legislative actions, denials or revocations of permits, consents, approvals or other authorizations, and other actions, including the failure to honor contracts and commitments, by the (i) Comisión Nacional de Energía, U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, U.S. Internal Revenue Service 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 Sempra's 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 growth; changes, due to evolving economic, political and other factors and increasing geopolitical instability as a result of wars or other conflicts in various parts of the world, to (i) trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries (and uncertainty related to the implementation and enforceability thereof), 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 on our ability to pass through higher costs to customers due to volatility in inflation, interest rates, commodity prices, tariff rates, and foreign currency exchange rates; the impact of climate policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, 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 insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas 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 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 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). SOURCE Sempra Infrastructure
Sempra to Report Second-Quarter 2026 Earnings on August 6
SAN DIEGO, July 20, 2026 /PRNewswire/ -- Sempra (NYSE: SRE) plans to release its second-quarter 2026 earnings results by 8 a.m. ET on Thursday, August 6. Senior leaders from across the company will host a conference call with a slide presentation at 12 p.m. ET on Thursday, August 6. 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, including investor.sempra.com/corporate-updates which contains important information for investors, and on social media @sempra. We use the investor.sempra.com/corporate-updates webpage as a means of disclosing important information to investors, some of which may be material, and complying with our disclosure obligations under SEC Regulation FD. The information on this webpage is supplemental to the information we disseminate to investors through other channels, including filings with the SEC, press releases, and public conference calls and webcasts, and investors should monitor all these sources for material information about us. SOURCE Sempra
Spotlight on Justin Bird
Earlier this week, Sempra announced key leadership appointments to advance the company’s strategic priorities, naming Justin Bird executive vice president and chief financial officer (CFO) of Sempra. As CFO, Bird will expand his current oversight of corporate development by adding accounting, investor relations, treasury, financial planning, audit, insurance and tax functions to his scope of responsibilities. The effective date for Bird’s appointment is expected to be on or around the closing date of Sempra’s planned sale of a 45% stake in Sempra Infrastructure Partners (Sempra Infrastructure) to affiliates of KKR. Read the press release for more information. A 20-year veteran of Sempra, Bird has held leadership roles instrumental to long-term value creation involving many of the company’s most significant investments and capital market transactions, with experience spanning project finance, financial planning, corporate development, treasury, governance and legal functions. He has served on the board of Oncor Electric Delivery Company since January 2024, where he serves on the Audit, Finance, and Governance & Sustainability Committees, and has chaired the board of Sempra Infrastructure since 2021. “At Sempra, we have a clear view of the significant opportunities ahead and what is required to execute on them,” Bird said. “As CFO, I’m looking forward to working closely with investors and other key stakeholders, developing the next generation of finance talent across the organization and supporting Sempra’s growth as we advance our mission to build America’s leading utility growth business.” Leading through change Bird currently serves as executive vice president of Sempra and chief executive officer of Sempra Infrastructure where he leads one of North America’s leading energy infrastructure platforms, managing more than $30 billion in total assets. Bird has overseen the build-out of three business lines — liquefied natural gas (LNG), energy networks and low carbon solutions — and a team of nearly 3,000 dedicated employees during a period of significant growth. During his tenure of leading Sempra Infrastructure, Bird was successful in building a globally competitive LNG platform, advancing a portfolio of large-scale infrastructure projects and executing a series of strategic transactions to create shareholder value, while strengthening the company’s operational, safety and financial performance. Under his leadership, the company progressed construction across a series of major projects, reaching final investment decisions on Port Arthur LNG Phases 1 and 2, reaching commercial operations at a series of large-scale wind and solar photovoltaic projects, moving Energía Costa Azul LNG Phase 1 toward completion and reaching an agreement to sell Ecogas México, S. de R.L. de C.V. Collectively, these accomplishments expanded Sempra Infrastructure’s global footprint, enhanced its growth trajectory and reinforced its position as a leading North American energy infrastructure platform. Before leading Sempra Infrastructure, Bird served as chief executive officer of Sempra LNG, where he competitively differentiated the company’s business strategy by calling for the development of projects capable of dispatching LNG out of the Gulf of America and off the west coast of North America. He also previously served as president of Sempra LNG, leading marketing and commercial development efforts across the company’s LNG portfolio. Cross-disciplined foundation for success Earlier in his career, Bird also held roles that helped build the cross-discipline foundation he brings to the CFO role. As director of project finance for Sempra, he led the successful $7 billion financing of the Cameron LNG liquefaction export terminal in Hackberry, Louisiana. In addition, he played a key role in helping structure and finance other major infrastructure investments across Sempra's portfolio. Previously, Bird also served as vice president, compliance and governance and corporate secretary for Sempra, where he directed ethics and compliance programs and served as chief governance officer and corporate secretary. In that role, he oversaw corporate governance activities, including shareholder engagement programs, and helped strengthen company-wide compliance and risk management processes. Bird joined Sempra in 2004 after working as an attorney at Latham & Watkins LLP, where he specialized in energy project development and finance. Bird holds a bachelor’s degree in accountancy from Arizona State University, where he graduated summa cum laude, and a law degree from the University of Pennsylvania, where he was a member of the school’s law review.
Sempra Advances Strategic Priorities with Key Leadership Appointments
SAN DIEGO, July 9, 2026 — Sempra (NYSE: SRE) today announced leadership appointments that mark another strategic milestone in advancing the company’s mission to build America’s leading utility growth business while bolstering leadership continuity and talent development. The appointments follow the company’s September 2025 announcement of its agreement to sell a 45% equity interest in Sempra Infrastructure Partners (Sempra Infrastructure), one of North America's leading energy infrastructure platforms, to affiliates of KKR. The company continues to expect the transaction to close in the third quarter of 2026, and Bob Patel was recently announced as the incoming chief executive officer of Sempra Infrastructure, effective upon close. Advancing Utility Growth Strategy with New Leadership Appointments With the closing of the referenced transaction, Karen Sedgwick, currently executive vice president and chief financial officer of Sempra, will become chief executive officer and president of the Southern California Gas Company (SoCalGas), bringing over 30 years of experience at the Sempra family of companies, including an established leadership background in utility practice and procedure, external and regulatory affairs, operations and safety, to lead the nation’s largest gas distribution utility. In addition, she will continue to serve on the board of directors of SoCalGas. Concurrently, Justin Bird, executive vice president of Sempra and chief executive officer of Sempra Infrastructure, will become executive vice president and chief financial officer of Sempra. Combined with his track record of value creation in the capital markets at the helm of Sempra Infrastructure, Bird has a strong, multi-disciplinary foundation for a successful transition into the CFO role. With more than 20 years of experience at Sempra, Bird has held leadership roles in treasury, financial planning, corporate development and legal, including five years of prior experience in commercial and project finance. In addition to his current oversight of Sempra’s corporate development program, Bird will also lead the company’s investor relations, treasury, financial planning, audit, insurance and tax functions. He will continue to serve on the boards of directors of Sempra Infrastructure and Oncor Electric Delivery Company LLC. The referenced leadership changes will become effective on or around the closing of the transaction, expected in the third quarter of 2026, subject to necessary regulatory and other approvals and closing conditions. “This is an exciting time for our company as we continue to advance the growth of our utility businesses. These appointments further our mission alignment and strengthen our ability to deliver long-term value for our stakeholders,” said Jeffrey W. Martin, chairman and chief executive officer of Sempra. “Our board has great confidence in both Karen and Justin and the leadership they will bring to their new roles. Karen is a proven leader who has touched all aspects of our California utilities over the last three decades and I am excited to see her take on the role of leading America’s largest natural gas distribution utility. I am also excited to partner with Justin as he broadens the scope of his financial and strategic responsibilities and extends his positive impact across the enterprise.” Sempra’s focus on developing and rotating leaders at all levels of the company has helped cultivate a mission-driven culture centered on the recognition that human capital is the most important corporate resource, as demonstrated by its recent inclusion on The Wall Street Journal's inaugural “Best Companies for the Future” list, where the company ranked among the top companies in America for leadership and talent readiness. Strengthening Financial Position and Funding Growth The pending transaction plays a central role in advancing Sempra’s strategic priorities by generating substantial cash proceeds and supporting disciplined capital allocation to concentrate the company’s investment strategy in regulated U.S. utility operations in Texas and California. Before adjustments, the $10 billion transaction announced in September 2025 implies an equity value of approximately $22.2 billion for Sempra Infrastructure. 1 Upon closing, affiliates of KKR will hold a 65% equity stake in Sempra Infrastructure, while Sempra will retain a 25% interest alongside an affiliate of Abu Dhabi Investment Authority’s existing 10% stake. The impact of the transaction, together with other elements of the company’s simplified business strategy, are expected to result in approximately 95% of Sempra’s earnings coming from regulated U.S. utilities in 2027, while also supporting the company’s goal of having more than 60% of its rate base located in Texas through the end of the decade. 2 These impacts also are expected to eliminate the need for common equity issuances in the company’s 2026-2030 base capital plan 3 and support execution of the company’s 2026 value creation initiatives, including efficiently sourcing capital for growth and deconsolidating Sempra Infrastructure’s debt from Sempra’s consolidated financials. 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.
Sempra Infrastructure's ECA LNG Phase 1 Exports First LNG Cargo from Mexico's Pacific Coast
HOUSTON, July 8, 2026 /PRNewswire/ -- Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE), today announced that the ECA LNG Phase 1 project in Ensenada, Mexico, has safely and successfully loaded and shipped its first cargo of liquefied natural gas (LNG), an important milestone toward full commercial operations. "At a time of increased uncertainty in the global LNG trade, we are excited to begin shipping a new and reliable source of natural gas from North America's Pacific Coast to customers around the globe," said Justin Bird, chief executive officer of Sempra Infrastructure. "This achievement underscores the exceptional talent of the entire ECA LNG Phase 1 team and our company's steadfast commitment to safe and strong project execution." "The start-up of ECA LNG, whose strategic location provides privileged access to Asian markets, strengthens the quality of our integrated LNG portfolio in North America. TotalEnergies is pleased to contribute to the project's ramp-up by exporting its first LNG cargoes," said Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies. Once the facility begins commercial operations, ECA LNG Phase 1 will be the first LNG liquefaction facility on Mexico's Pacific Coast. Due to its strategic location, it creates a competitive advantage for shippers from the facility, who have the unique ability to export U.S. natural gas to Asia and other Pacific Basin markets through the shortest shipping route, thus reducing transportation times, costs and uncertainty while providing customers with greater access to competitively priced U.S. natural gas. ECA LNG Phase 1 is a joint venture with TotalEnergies and consists of a single liquefaction train with nameplate capacity of 3.25 million tonnes per annum (Mtpa) of LNG. The project is supported by long-term sale and purchase agreements with TotalEnergies and Mitsui & Co. The project is expected to reach substantial completion in the summer of 2026, with sales under long-term sale and purchase agreements commencing shortly thereafter, when the facility begins commercial operations. A second and significantly larger phase is also under active development at the same site. The ECA LNG facility is a cornerstone of Sempra Infrastructure's dual-coast LNG portfolio. With projects along the U.S. Gulf Coast and Mexico's Pacific Coast, Sempra Infrastructure offers customers the flexibility and reliability needed to meet growing demand for competitively priced U.S. natural gas. About Sempra Infrastructure Sempra Infrastructure, headquartered in Houston, is focused on delivering energy for a better world by developing, building, operating and investing in modern energy infrastructure, such as LNG, energy networks and low-carbon solutions that are expected to play a crucial role in the energy systems of the future. Through the combined strength of its assets in North America, Sempra Infrastructure is connecting customers to safe and reliable energy and advancing energy security. Sempra Infrastructure is a subsidiary of Sempra (NYSE: SRE), a leading utility growth company. For more information, visit SempraInfrastructure.com or connect with Sempra Infrastructure on social media @SempraInfra. 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, audits, investigations, inquiries, regulations, legislative actions, denials or revocations of permits, consents, approvals or other authorizations, and other actions, including the failure to honor contracts and commitments, by the (i) Comisión Nacional de Energía, U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, U.S. Internal Revenue Service 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 Sempra's 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 growth; changes, due to evolving economic, political and other factors and increasing geopolitical instability as a result of wars or other conflicts in various parts of the world, to (i) trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries (and uncertainty related to the implementation and enforceability thereof), 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 on our ability to pass through higher costs to customers due to volatility in inflation, interest rates, commodity prices, tariff rates, and foreign currency exchange rates; the impact of climate policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, 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 insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas 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 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 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). SOURCE Sempra Infrastructure
SDG&E Drives High Solar Adoption as One in Four Customers Go Solar
Strong customer participation and faster interconnections are helping enable the grid of the future SAN DIEGO, July 7, 2026 /PRNewswire/ -- San Diego Gas & Electric (SDG&E) is helping enable the grid of the future, with more than 350,000 residential customers now generating their own power through rooftop solar – equivalent to more than one in four customers and one of the highest adoption rates in the nation. In a region defined by abundant sunshine, customers are increasingly choosing to generate their own clean energy, helping shape a more flexible and locally driven energy system. Their participation is helping transform how energy is produced, shared and delivered across the region. "The energy system is changing because our customers are leading that change," said Scott Crider, president of SDG&E. "Our responsibility is to help the grid evolve with them. That means building a system that can safely integrate customer-generated energy while continuing to deliver the reliability our customers expect. The progress we are making on solar adoption and interconnections is an important part of enabling that future." Beyond adoption: Operating a more dynamic energy systemThe growth of rooftop solar throughout San Diego and South Orange Counties represents more than increased clean-energy generation; it reflects how customers are changing the way energy is produced, shared and delivered across the region. Unlike a traditional electric system that primarily delivers electricity in one direction, today's grid increasingly supports two-way power flows as customers both consume and contribute energy. Faster, more efficient solar interconnectionsTo support continued growth, SDG&E has focused on improving how customers connect to the grid. Through targeted process improvements and coordination across teams, the company has streamlined its interconnection process and consistently exceeded state performance benchmarks, helping reduce wait times and uncertainty for customers pursuing solar projects. On average, customers are now able to complete the interconnection process in about three days. These improvements are helping customers connect their systems more quickly and enabling customer-generated energy to be more easily integrated into the grid. A more connected energy systemAs rooftop-solar adoption grows, customers are not only generating clean energy, they remain connected to and supported by the broader grid. Even with solar, customers continue to rely on the grid to meet energy needs at times when generation is lower, reinforcing the importance of a strong, reliable system – one our customers depend on and that SDG&E has consistently delivered, with 20 consecutive years of being named the most reliable electric utility in the West by PA Consulting. At the same time, more customers are pairing solar with battery storage, allowing them to save excess energy generated during the day and use it later when needed. As adoption grows, these technologies can help support reliability and increase flexibility across the energy system. The strong adoption of rooftop solar and battery storage across the region reflects a broader shift in how energy is generated and used—one that depends on a modern electric grid to connect customers, balance energy resources and provide reliable service across the region. Supporting customers Customers interested in installing rooftop solar can learn more and find information about program options, interconnection requirements and available resources at sdge.com/solar. About SDG&ESan Diego Gas & Electric (SDG&E) is an innovative energy delivery company that provides clean, safe and reliable energy to better the lives of the people it serves across 27 cities and two counties in the San Diego and southern Orange County region. 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 U.S. utility holding company. For more information, visit SDGEtoday.com or connect with SDG&E on social media @SDGE. Message funded by ratepayers SOURCE San Diego Gas & Electric (SDG&E)
SoCalGas and U.S.VETS Honor Veterans with 250th Anniversary Fourth of July Celebration
Media assets here LOS ANGELES, July 2, 2026 /PRNewswire/ -- Southern California Gas Company (SoCalGas), a subsidiary of Sempra (NYSE: SRE), in collaboration with U.S.VETS, hosted a special Fourth of July celebration today at the U.S.VETS Inland Empire campus on March Air Reserve Base, commemorating America's 250th anniversary while honoring the service and sacrifice of veterans and their families. The event brought together approximately 150 veterans and their family members for an afternoon of community, connection, and celebration. The gathering comes at a time when veteran support remains critical nationwide. On any given night, more than 32,000 veterans experience homelessness in the United States, underscoring the importance of organizations like U.S.VETS. At the Inland Empire campus alone, more than 400 veterans reside on site, making events like today's celebration a meaningful opportunity to foster community, connection, and recognition of service. "As our nation celebrates its 250 th anniversary, it is especially meaningful to honor the veterans who have helped protect the freedoms we celebrate this Independence Day," said Paul Goldstein, vice president of supply chain and support operations at SoCalGas and executive sponsor of the company's veteran employee resource group. "SoCalGas is proud to serve our veterans today and, together with U.S.VETS, create a welcoming space where they feel appreciated, supported, and connected." Attendees enjoyed a festive lineup of activities, including a live BBQ meal served by SoCalGas employee volunteers, lawn games such as cornhole and life-sized Connect 4, tabletop games, and themed entertainment. The event created a welcoming and celebratory environment for veterans and their families ahead of Independence Day. SoCalGas employees, including members of the company's veteran employee community, volunteered throughout the day—serving meals, facilitating activities, and engaging directly with residents—further strengthening the company's commitment to those who have served. "On behalf of myself and our entire team, we are incredibly grateful for SoCalGas and the significant impact the company has made on the lives of the veterans we serve through workforce initiatives and its role as an outstanding community partner," said Nicole Starks-Murray, executive director of U.S.VETS Inland Empire. "Their generous contributions of time, volunteerism and commitment to creating pathways toward sustainable living truly make a difference. Celebrating the 250th anniversary of the United States alongside SoCalGas makes this event especially meaningful." Today's celebration reflects an ongoing collaboration between SoCalGas and U.S.VETS to support veterans across Southern California. Through this initiative, SoCalGas's charitable grants help to fund critical services—including housing and workforce development programs—while also creating opportunities for employee volunteerism and community engagement. The U.S.VETS Inland Empire site serves hundreds of veterans annually, providing supportive housing and resources that help veterans transition to stable, independent lives. Events like today's celebration not only recognize their service but also reinforce a sense of belonging and community. 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 U.S. utility holding company. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas. About U.S.VETSU.S.VETS is the largest nonprofit with boots on the ground combating America's veteran homelessness crisis head-on. Our holistic approach delivers intervention and prevention services—including housing, mental health, career and supportive services—helping more than 20,000 veterans and their families each year. With residential and service sites nationwide, U.S.VETS is on a mission to prevent and end veteran homelessness so no veteran sleeps on the streets they once defended. Message Funded by Shareholders. SOURCE Southern California Gas Company
Storage Helps Capture 5-Year Low Natural Gas Prices, Supporting More Stable Energy Costs for SoCalGas and SDG&E Customers
LOS ANGELES, June 30, 2026 /PRNewswire/ -- Southern California Gas Co. (SoCalGas), a subsidiary of Sempra (NYSE: SRE), today announced that the cost the company pays for natural gas on behalf of residential and small business customers across the SoCalGas and San Diego Gas & Electric (SDG&E) service areas reached a five-year low for the March through May period in 2026, averaging 22.8 cents per therm 1. The billed price of natural gas declined steadily over the spring, dropping from 35.7 cents per therm in March to 16.9 cents in April and 15.9 cents in May 1 – a 55% decline from March to May. These market trends, along with how natural gas is purchased and managed over time, contribute to the cost passed through to customers. "At a time when many households are focused on managing their energy bills, this is a clear example of how natural gas remains a very affordable source of energy," said SoCalGas President (Interim) and Chief Operating Officer Rodger Schwecke. System flexibility – including storage and access to multiple supply basins – helps manage costs by enabling lower-cost gas purchases and reducing exposure to higher-priced supply during periods of increased demand. The spring cost decline also aligns with broader market trends. According to the U.S. Energy Information Administration, natural gas spot prices in California reached record lows in the first five months of 2026, driven in part by higher-than-average storage levels in the Pacific region and other market factors. Natural gas is one of the lowest monthly household energy costs for Californians. It accounts for more than 60% of average household energy use, yet represents less than 30% of the total home energy bill. As outlined in SoCalGas's recently published Affordable Way for California report, the company's inflation‑adjusted residential natural gas rates declined by approximately 25% between 2000 and 2023. The cost SoCalGas pays for natural gas on behalf of SoCalGas and SDG&E customers is passed through without markup, meaning lower market prices directly benefit customer bills. Other components of the bill, such as transportation, support the infrastructure needed to safely store and deliver natural gas to millions of homes and businesses across Southern California. 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 U.S. utility growth business. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas. Message funded by shareholders. 1 Southern California Gas Company, Tariff G‑CP Core Procurement Rates for the Indicated Period ($/MMBtu), June 3, 2026. SOURCE Southern California Gas Company
Sempra Named to The Wall Street Journal's "Best Companies for the Future" List
SAN DIEGO, June 24, 2026 /PRNewswire/ -- Sempra (NYSE: SRE) has been named to The Wall Street Journal's inaugural list of "Best Companies for the Future." The new ranking was published June 7, 2026 following an evaluation of S&P 500 companies based on their anticipated ability to be successful in a rapidly evolving business environment by measuring future readiness. Sempra outperformed industry peers across a series of key indicators measuring leadership, organizational adaptability and workforce readiness. "As the pace of change accelerates across American business, we understand that Sempra's ability to grow and better serve customers is directly proportional to our ability to attract, retain and develop the right talent," said Jeffrey W. Martin, chairman and CEO of Sempra. "That is why we will continue investing in our people, strengthening our capabilities and advancing our strategy to build America's leading utility growth business." The "Best Companies for the Future" ranking evaluates the nation's largest corporations across six pillars of future-readiness: agility, artificial intelligence readiness, financial fitness, innovation, resilience and talent readiness. Scores were derived by Bendable Labs for the WSJ Leadership Institute from a composite of third-party data sources and external metrics designed to evaluate long-term organizational strength and adaptability. A Recognized Leader in the Utility Sector for Talent and Agility Sempra's standout performance came in the talent readiness category, where the company ranked in the top 10% of the S&P 500 and as one of the leading utilities in America for workforce readiness. This high mark reflects Sempra's continued efforts to attract, develop and retain the talent needed to support its future business needs. In addition, Sempra ranked among the top utilities in the country for agility, scoring in the top 38% for innovation and commitment to new technologies, which reflects a company-wide effort to modernize and extend one of America's largest energy networks. Moreover, this recognition adds to a series of honors received earlier this year that highlight Sempra's strong operational performance and high-performance culture, including: Fortune's World's Most Admired Companies The Wall Street Journal's Management Top 250 U.S. News & World Report's Best Companies to Work For Forbes' America's Best Employers for Company Culture 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 Employees Volunteer Across Southern California, Providing 1,100+ Volunteer Hours to Help Families Access Essential Resources
LOS ANGELES, June 22, 2026 /PRNewswire/ -- Southern California Gas Co. (SoCalGas), a subsidiary of Sempra (NYSE: SRE), today announced that employees dedicated more than 1,100 volunteer hours in May—equivalent to over 27 full-time workweeks—through its Glad to be of service ® initiative. Spanning 38 cities and nine counties, these efforts strengthened local communities and helped connect families to resources that can reduce everyday costs—including food assistance, clothing and workforce programs. Through 19 volunteer events and ongoing individual efforts, over 200 employees supported 57 nonprofit organizations, focusing on critical needs such as food access, housing support, workforce readiness and services for seniors and veterans. "At SoCalGas, we know many families are feeling financial pressure right now," said Clay Faber, director of community and stakeholder engagement at SoCalGas. "That's why our employees volunteer alongside local organizations to help expand access to food, housing support and other essentials that can make a real difference." "Collaborations like this are essential to meeting the growing need we see across Southern California," said Lt. Colonel Mike Dickinson, The Salvation Army Southern California Division. "SoCalGas employees show up ready to work and make a real difference—helping us expand access to critical resources for families who need it most." Employees supported the Los Angeles Regional Food Bank, Orange County Food Bank, FIND Food Bank, Venice Family Clinic, LA Family Housing, The Salvation Army, Junior Achievement SoCal and many others, through initiatives focused on helping meet essential needs, including: Food distribution and insecurity relief, expanding access to no-cost groceries Housing and homelessness support, helping individuals and families access stable, supportive housing Workforce development and financial readiness, including financial literacy programs and professional clothing donations Support for seniors and vulnerable populations, providing essential services and community connection Community resilience and recovery efforts, strengthening local economic stability Additional activities included clothing and diaper drives, youth mentorship, community cleanups and support for students, low-income households, veterans, seniors and individuals experiencing homelessness. These volunteer efforts complement SoCalGas's broader commitment to helping customers manage energy costs through assistance programs, energy efficiency resources and community projects. They also complement employees' day-to-day work, providing additional ways to support the communities we serve. Volunteer service is ongoing throughout the year, reflecting the company's continued focus on delivering value to customers and strengthening the communities it serves. For more information, visit socalgas.com/about-us/our-impact. 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 U.S. utility holding company. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas. Message Funded by Shareholders. SOURCE Southern California Gas Company
Safety roundup: Advancing safety and resilience across our communities
Sempra highlights how its companies advance safety through wildfire mitigation, infrastructure investments, emergency preparedness and customer education. From AI-driven tools to vegetation management and grid resilience, safety remains central to operations.
Serving with purpose at USS Midway Museum
As Sempra advances its mission to build America’s leading utility growth business, it is guided by a strong commitment to the people and communities it serves. That commitment was on display recently as employees volunteered at the USS Midway Museum, continuing an established tradition of hands-on support for one of San Diego’s most iconic landmarks. The museum showcases the USS Midway, the longest-serving U.S. aircraft carrier of the 20th century, offering visitors an immersive look at naval aviation history. Ahead of Memorial Day weekend—one of the Midway’s busiest and most meaningful times of year—employees helped clean and preserve the historic aircraft carrier, preparing it to welcome thousands of visitors who come to honor those who made the ultimate sacrifice to the nation. “Our employees bring a strong sense of purpose to everything they do, from delivering essential energy services to supporting the communities we serve,” said Lisa Larroque Alexander, senior vice president, corporate affairs and chief human resources officer of Sempra. “Opportunities like this not only make a meaningful impact locally, they also strengthen our culture by bringing colleagues together in service of something bigger than themselves.”
SoCalGas Helps Customers Save More Than $106 Million Through Energy Efficiency Programs
LOS ANGELES, June 11, 2026 /PRNewswire/ -- Southern California Gas Co. (SoCalGas), a subsidiary of Sempra (NYSE: SRE), announced today that its energy efficiency programs helped customers save more than $106 million on their utility bills in 2025—reducing energy use by approximately 54 million net therms, enough to serve about 38,000 homes annually 1. "These programs are giving customers more control of their energy use and helping lower their bills," Andy Carrasco, vice president, communications and regional stakeholder engagement at SoCalGas. "We're providing simple, practical tools, rebates, and services so families and small businesses across Southern California can save energy and better manage what they spend each month." SoCalGas operates more than 70 customer-facing energy efficiency programs that help households and businesses better manage energy use and costs through rebates, direct installation services, property assessments, and financial options. Under the California Public Utilities Commission (CPUC) cost-effectiveness standard, these programs collectively delivered $1.41 in total customer value for every $1 invested in 2025. These efforts also helped avoid approximately 286,000 metric tons of carbon dioxide equivalent (CO 2e) emissions in 2025, or the equivalent of removing more than 66,000 gasoline-powered passenger vehicles from the road for a year 1. Energy efficiency programs are one important way SoCalGas helps customers manage their energy costs today. They also support long-term affordability by reducing overall energy demand and helping limit price volatility during extreme conditions. As highlighted in The Affordable Way for California, this approach—combining energy efficiency with investments in system reliability and underground storage—helps support customer energy needs and underscores the value of a flexible, resilient energy system. Between 2021 and 2025, SoCalGas' energy efficiency programs have helped customers save more than $475 million on their utility bills and reduce energy use by more than 242 million net therms—enough to serve about 172,000 homes annually. These efforts have also helped avoid approximately 1.28 million metric tons of CO 2e emissions 1. Learn more about SoCalGas' energy efficiency programs and ways to save at https://www.socalgas.com/savings. Click to read the full Energy Efficiency Programs 2025 Annual Report. 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 U.S. utility growth business. 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, disallowances or denials of cost recovery, audits, investigations, inquiries, ordered studies, regulations, legislative actions, 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 and increasing geopolitical instability as a result of wars or other conflicts in various parts of the world, to (i) trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries (and uncertainty related to the implementation and enforceability thereof), and (ii) laws and regulations, including those related to tax; 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, and tariff rates 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. 1 Estimates of avoided CO 2e emissions from reduced natural gas consumption associated with program participation are calculated in accordance with California Public Utilities Commission (CPUC) methodologies, and estimates of equivalent avoided greenhouse gas emissions from gasoline-powered passenger vehicles driven for one year and equivalent avoided carbon dioxide emissions from homes' energy use for one year are converted from [net] therms or CO 2e, as applicable, using the U.S. Environmental Protection Agency's (EPA) Greenhouse Gas Equivalencies calculator. These figures represent estimates as of a point in time and future changes or updates to the EPA calculator may impact the results. SOURCE Southern California Gas Co.

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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).