Oncor Electric Delivery Company announced Monday it will release first quarter 2026 financial results on May 7, giving investors an early look at the performance of Texas's largest electricity delivery system before parent company Sempra reports its own numbers.

The Dallas-based utility, which serves more than 10 million Texans across a 120,000-square-mile service territory, will publish its earnings ahead of Sempra's quarterly conference call. The results will be available on Oncor's website, according to a company statement reported by Benzinga.

The timing matters. Oncor's quarterly performance serves as a bellwether for the Texas grid's health and the pace of infrastructure investment in the nation's second-most-populous state. The company operates the wires and poles that deliver electricity to customers — it doesn't generate power or sell it directly to consumers, but rather charges regulated rates for transmission and distribution services.

Why Oncor's Numbers Draw Attention

Texas runs its own electricity grid, largely isolated from the rest of the country. That independence proved catastrophic during the February 2021 winter storm that left millions without power and exposed critical infrastructure weaknesses. Since then, grid reliability and investment have become political flashpoints and investor concerns.

Oncor has been pouring money into grid hardening and expansion. The company's capital expenditure plans have consistently topped $1 billion annually as it works to accommodate Texas's explosive population growth and the state's renewable energy buildout. Wind and solar farms, concentrated in West Texas, require extensive new transmission lines to connect to population centers like Dallas-Fort Worth, Houston, and Austin.

You'll want to watch whether Oncor's spending continues at that clip — and whether regulators are approving rate increases to cover those costs. The company operates under oversight from the Public Utility Commission of Texas, which must balance infrastructure needs against ratepayer affordability.

The Sempra Connection

Sempra acquired an 80.25% stake in Oncor in 2018 for roughly $9.45 billion, making the Texas utility a cornerstone of the San Diego-based energy infrastructure giant's portfolio. Sempra also owns Southern California Gas Company and San Diego Gas & Electric, among other assets.

Oncor's earnings typically contribute meaningfully to Sempra's overall performance. Any surprises in the Texas utility's numbers — whether from storm-related outages, regulatory decisions, or demand fluctuations — can move Sempra's stock and shape investor expectations heading into the parent company's call.

The May 7 release gives analysts and investors a chance to digest Oncor's results and formulate questions before Sempra management takes the stage. It's a common practice for large conglomerates with significant subsidiary operations, but the stakes feel higher in Texas given the grid's ongoing challenges.

What to Watch in the Q1 Report

First quarter results will likely reflect winter demand patterns, though Texas typically sees peak loads during summer cooling season rather than winter heating. Still, any unusual weather events or operational hiccups would show up in the numbers.

Investors will also scrutinize capital spending updates and any commentary on regulatory proceedings. Oncor has pending rate cases and infrastructure riders that determine how quickly it can recover costs from customers. Those mechanisms directly impact profitability and cash flow.

Demand growth trends matter too. Texas continues to attract businesses and residents fleeing higher-cost states, and data centers are sprouting across the state to serve AI and cloud computing workloads. That means more electricity consumption and more pressure on the grid — both challenges and opportunities for a transmission company like Oncor.

The company's release will be available at oncor.com on the morning of May 7. Sempra is traded on the New York Stock Exchange under the ticker SRE.