SEMPRA Business Summary

Sempra (SRE) operates as a premier North American energy infrastructure company, generating revenue through a diversified model of regulated utility services and long-term infrastructure contracts. The company is structured into three primary segments: Sempra California, providing electric and natural gas services to approximately 25 million consumers via San Diego Gas & Electric (SDG&E) and Southern California Gas (SoCalGas); Sempra Texas Utilities, which manages a majority interest in Oncor, the largest regulated electric transmission and distribution provider in Texas; and Sempra Infrastructure, which develops and operates liquefied natural gas (LNG) export facilities and low-carbon energy networks across the U.S. and Mexico. Revenue is primarily sourced from regulated rate-base fees and multi-decade, take-or-pay agreements for LNG capacity. Sempra competes with utility giants such as NextEra Energy, Duke Energy, and Southern Company, positioning itself as a hybrid player that combines the stability of regulated monopolies with high-growth exposure to global energy transition and export markets. Established by the 1998 merger of Enova Corporation and Pacific Enterprises, Sempra is led by Chairman, CEO, and President Jeffrey W. Martin, a veteran executive who previously served as CEO of SDG&E and EVP of Sempra. The leadership team includes Karen Sedgwick, Executive Vice President and CFO, who brings over three decades of experience within the company’s financial and administrative divisions, and Justin Bird, EVP and CEO of Sempra Infrastructure. The company’s strategic direction is overseen by a board that includes Lead Independent Director Cynthia Warner and 2025 appointees Anya Weaving, a former Bank of America Merrill Lynch investment banker, and Kevin Sagara, the former President of Sempra California. Sempra maintains high-profile institutional backing, notably through its Sempra Infrastructure partnership with KKR and the Canada Pension Plan Investment Board (CPPIB), which acquired a combined 45% stake in the subsidiary in a landmark 2024 transaction.