Sempra

**Strong EPS Growth Expectations**: Sempra reported a third quarter adjusted EPS of $0.89, with year-to-date adjusted EPS of $3.12. The company is affirming its full-year 2024 adjusted EPS guidance, aiming for a growth rate of 6% to 8%. Future growth is reportedly driven by increased infrastructure investments, economic expansion, and rising energy demands, potentially exceeding historical EPS growth rates.

**Significant Capital Expenditure Increase**: Oncor announced a $24 billion five-year capital plan, projecting a 40% to 50% increase from its current plan due to strong demand, particularly in the Permian Basin and from large commercial and industrial (C&I) customers. A focus on high voltage transmission, particularly with AI-related demands, is expected to drive substantial growth, backed by a favorable regulatory framework.

**California Regulatory Challenges**: In California, Sempra is awaiting a final decision on its general rate case (GRC). The proposed decision indicated a 10.5% increase in revenue requirement for SDG&E but presents challenges, such as lower attrition year revenue increases that may lead to capital expenditure reductions. Key areas needing focus include safety and infrastructure improvements.