Boston, MA 05/08/2014 (wallstreetpr) – Sempra Energy (NYSE:SRE) recently reported 1Q2014 results that were widely strong of which the CEO Debra Reed said confirmed the fact that the company is on track to meeting 2014 earnings guidance. However, it is easy for investors to forget that while 2014 is almost sure to be a great earnings year for the company, it is also using the year to plot for a greater future where high revenue and solid profits will be commonplace.
Sempra Energy (NYSE:SRE) has several projects that are expected to begin operating this year, and these are expected to lend great support to future profitability. In any case, the recent earnings report left no doubt that the company is going places with its costs and expenses curb. The curb in expenses and costs are expected lead to significant cash savings that can be reinvested in promising projects or returned to shareholders in the form of dividends and stock repurchases.
The CEO observed that 2014 is turning out to be a busy year for Sempra Energy (NYSE:SRE). It is a year when the company expects to celebrate efficient operations quarter after quarter and launch of high-dollar projects. Its Peru and Mexico projects are scheduled to kick off operations before the end of 2014 with construction about to begin on another multibillion dollar liquefied natural gas export facility in Louisiana. The Louisiana project has already secured important permits from regulators and construction could begin soon.
Executive comment
The CEO Reed said recently that Sempra Energy (NYSE:SRE) is pleased with the consistent earnings growth just as expected. The executive believes the company is poised for even greater earnings growth once the projects under development are up and running.
1Q at a glance
Sempra Energy (NYSE:SRE), a San Diego-based company, reported 1Q2014 net income of $247 million or 99 cents per diluted share. In fact, the company realized net income of $256 million or $1.03 per share in the quarter except that it suffered some after-tax charges related to a nuclear facility closure. The company had a net income of $178 million or 72 cents per diluted share in 1Q2013.
