Southern California Gas Company reported a third-quarter 2026 operating loss of $206 million, compared with operating income of $45 million in 2025, and a $153 million loss attributable to common shares, versus earnings of $46 million. Operating revenues were $1.171 billion, compared with $1.181 billion. The statements list $309 million of regulatory disallowances for both the quarter and the nine-month period.
For the nine months ended September 30, 2026, operating revenues were $4.086 billion, versus $4.469 billion, and earnings attributable to common shares were $378 million, versus $573 million. Net cash provided by operating activities was $1.724 billion, compared with $1.426 billion. Property, plant and equipment expenditures were $1.504 billion, while net cash used in investing activities was $1.487 billion.
At September 30, 2026, total assets were $28.279 billion, long-term debt and finance leases were $8.041 billion, and cash and cash equivalents were $1 million. The company reported total current liabilities of $2.504 billion and total shareholders’ equity of $9.193 billion.
Southern California Gas Company, a Sempra California utility, was included in Sempra's third-quarter 2026 results. Sempra reported consolidated GAAP earnings of $877 million, or $1.34 per diluted share, compared with $77 million, or $0.12, a year earlier; adjusted earnings were $917 million, or $1.40 per diluted share, versus $728 million, or $1.11.
Sempra California segment earnings attributable to common shares were $223 million, compared with $370 million. Sempra's reconciliation includes a $216 million after-tax regulatory-disallowance charge at SoCalGas. On October 29, the California Public Utilities Commission issued a proposed decision denying SoCalGas and SDG&E's request to correct the 2024 General Rate Case capital attrition mechanism for 2027. If unsuccessful, Sempra California expects 2027 earnings at the low end of its segment guidance range unless mitigated.
Sempra updated 2026 GAAP EPS guidance to $7.41 to $8.41 and guided to the high end of its $4.80 to $5.30 adjusted EPS range. It affirmed its 2027 EPS range of $5.10 to $5.70. Oncor projects its 2027 to 2031 base capital plan to increase approximately 20% relative to 2026 to 2030.
SOUTHERN CALIFORNIA GAS CO (SOCGM), an indirect subsidiary of Sempra, completed a previously announced public offering of $500,000,000 aggregate principal amount of its 5.500% First Mortgage Bonds, Series GGG, due 2036. The company received proceeds of 98.755% of the aggregate principal amount, after underwriting discounts and before estimated offering expenses of approximately $1.1 million.
The bonds were issued under an effective Form S-3 shelf registration and a Supplemental Indenture dated August 21, 2026. The bonds mature on September 1, 2036 and bear interest at 5.500% per annum, payable semiannually in arrears on March 1 and September 1, beginning March 1, 2027. The bonds are redeemable at the company’s option prior to maturity at the redemption prices described in the bond form.
SOUTHERN CALIFORNIA GAS CO (SOCGM), an indirect subsidiary of Sempra, reported that on August 17, 2026 it entered into an underwriting agreement with a syndicate of underwriters led by Barclays Capital Inc., Credit Agricole Securities (USA) Inc., MUFG Securities Americas Inc. and TD Securities (USA) LLC.
Under this agreement, Southern California Gas Company agreed to issue and sell $500,000,000 aggregate principal amount of its 5.500% First Mortgage Bonds, Series GGG, due 2036 to the underwriters for resale in a registered public offering at a public offering price of 99.405% of the aggregate principal amount. The bonds are being offered pursuant to an effective shelf registration statement on Form S-3 using a prospectus supplement and related prospectus.
Southern California Gas Company (symbol SOCGM) is offering $500,000,000 aggregate principal amount of 5.500% First Mortgage Bonds, Series GGG, due 2036 under its automatic shelf registration. The bonds mature on September 1, 2036, pay interest at 5.500% per annum from August 21, 2026, with semiannual payments on March 1 and September 1 beginning March 1, 2027. They are first-mortgage secured obligations under an existing 1940 indenture and rank equally with the company’s other first mortgage bonds.
The bonds are offered at 99.405% of principal, generating gross proceeds of $497,025,000, less an underwriting discount of 0.650% ($3,250,000), for proceeds before expenses of $493,775,000 and estimated net proceeds of about $493.8 million after $1.1 million of offering expenses. The company intends to use a substantial portion of the net proceeds to repay outstanding indebtedness, including a 4.426% term loan maturing December 9, 2026 and commercial paper bearing up to 3.792% interest, with any remainder for general corporate purposes.
The bonds are redeemable at the company’s option: before June 1, 2036 at the greater of a Treasury Rate make-whole formula plus 15 basis points or 100% of principal, and on or after that date at 100% of principal, in each case plus accrued interest. The issue will be settled in book-entry form through DTC on or about August 21, 2026 and is not expected to be listed on any securities exchange; underwriters may make a market but are not obligated to do so. As of June 30, 2026, the company had $7.6 billion of first mortgage bonds outstanding and Net Investment in Mortgaged Property of approximately $17.7 billion, with earnings covering first mortgage bond interest about 6 times for the prior 12 months.
SOCGM filed a Form 15 to terminate registration of its 6% Preferred Stock, $25 par value and 6% Preferred Stock, Series A, $25 par value under Section 12(g) of the Exchange Act, relying on Rule 12g-4(a)(1). The company reports 0 holders of record for each preferred series as of the certification date, which supports suspending related periodic reporting obligations for these securities.
Southern California Gas Company is offering a new series of secured debt, its First Mortgage Bonds, Series GGG, due September 1, 2036. These bonds pay interest semiannually on March 1 and September 1, beginning March 1, 2027, and may be redeemed at the company’s option, with a make-whole style redemption based on a Treasury Rate plus a spread before a specified Par Call Date and at 100% of principal plus accrued interest on or after that date.
The bonds are secured by a first mortgage lien on substantially all utility property, sharing equally with existing first mortgage bonds. As of June 30, 2026, $7.6 billion of first mortgage bonds were outstanding and Net Investment in Mortgaged Property was about $17.7 billion; earnings covered first mortgage bond interest by roughly 6 times. Net proceeds will be used largely to repay a term loan and commercial paper, with any remainder for general corporate purposes, after paying estimated offering expenses of $1,100,000. The bonds are intended only for institutional and qualified investors, with explicit prohibitions on EEA and UK retail sales.
Southern California Gas Co filed an initial statement of beneficial ownership for Ross W. Turrini, who is identified as Chief Operating Officer. The Form 3 does not report any specific securities holdings or transactions at this time and notes an exhibit for a Power of Attorney.
On August 6, 2026, shareholders of Southern California Gas Company approved a Restated Charter that will retire all outstanding shares of its 6% Preferred Stock and 6% Preferred Stock, Series A. Each share will be automatically retired in exchange for a cash payment of $31.135616 per share, representing $31.00 plus accrued and unpaid dividends to but excluding the August 17, 2026 retirement date, and the authorized shares of both preferred classes will be reduced to zero.
The company plans to voluntarily delist both preferred series from the OTC Markets quotation system at or around the close of business on August 13, 2026. The Restated Charter received majority approval from common, Preferred, and Series A Preferred shareholders, voting both together as a single class and as separate classes.
Southern California Gas Co reports that officer Elvia Lima Ortiz, serving as VP, CAO and Controller, has filed an initial ownership report for the company’s securities. The disclosure shows no reported stock or derivative holdings and no purchases, sales, exercises, gifts or other transactions.