Jeffrey Martin on California wildfire liability
From Sempra ($SRE) Q1 2026 Earnings Call · · Castify Earnings Call
“I think what's really important right now is the state conversations around a dialogue of improving the livability of the state. And what you and I are talking about on this call was 254 just one element of that. So, I think that the focus is on the right issues and I think that we've got a lot more people aligned around action and I think the CEA report is certainly helpful in that regard.”
On , Jeffrey Martin, Chairman, President & Chief Executive Officer at Sempra, spoke about California wildfire liability during Sempra ($SRE) Q1 2026 Earnings Call on Castify Earnings Call.
About Jeffrey Martin
During Sempra’s earnings calls from May 2025 through May 2026, Martin discussed the company’s shift toward a lower-risk profile focused on U.S. utilities, with an emphasis on Texas. He stated that by the end of the decade, Sempra expects nearly 60% of its rate base to be in Texas, describing the state as “ground zero” for infrastructure growth driven by artificial intelligence and data center demand. Martin also highlighted the sale of a 45% stake in Sempra Infrastructure to KKR for $10 billion, which he described as a catalyst for improving the company’s growth profile and balance sheet. He introduced a $65 billion capital plan for 2026–2030 and affirmed 2026 adjusted EPS guidance of $4.80 to $5.30, while issuing a 2030 EPS outlook of $6.70 to $7.50. On regulatory and legislative matters, Martin expressed confidence in California’s legislative session addressing wildfire risk and recovery mechanisms, citing the CEA report as helpful. He noted the signing of Texas’s HB 5247, which established a unified tracker mechanism for utilities like Oncor to adjust rates for capital investments. Martin also mentioned the company’s plan to divest Ecogas in Mexico and reiterated Sempra’s strategy of selling non-core assets to recycle capital for future growth.