CPUC SDG&E Track 2 PD triggers $471M charge; Sempra guides 2025 adj. EPS to high end

SEMPRA

CPUC approved cost of capital FD with 5 bps higher ROE; other terms unchanged from Nov. 2025 PD.
CPUC did not vote on SDG&E Track 2 GRC PD; estimated $471M after-tax Q4 charge ($34M for 9M 2025, $437M for 2019-2024).
Sempra guides to high end of 2025 adjusted EPS range ($4.30-$4.70); GAAP guidance $2.38-$2.78 after charge.
Sempra affirms 2026 adjusted EPS guidance $4.80-$5.30, incorporating CPUC cost of capital and Track 2 PD impacts.

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