Sempra Energy reported third quarter net income of $348 million, compared to net income of $296 million for the same quarter of 2013.
For the nine months ended Sept. 30, Sempra reported net income of $864 million, up from $719 million for the same period of 2013.
San Diego Gas & Electric, the larger of Sempra’s two domestic utilities, reported third quarter net income of $157 million, compared to $129 million for the same quarter of last year.
SDG&E did $379 million in net income for the first nine months of 2014, compared to $285 million for the same period of last year.
Chairwoman and CEO Debra Reed said based on the results through September, the company should meet the high end of its guidance on earnings per share. The company forecast that its net profits would end the year in a range of $4.25 to $4.55 per share.
Reed noted several capital projects that are on track including the Cameron liquefied natural gas plant in Louisiana that broke ground last month and should be operating in 2018, and in Sempra’s Mexican unit, IEnova, which completed the first phase of a Sonoran pipeline, and nearing completion of another pipeline.
Reed said Sempra will be bidding on several pipeline projects under Mexico’s energy privatization plan.
In midday trading on the New York Stock Exchange, shares of Sempra were just below $111. Over the 52 weeks, the stock has ranged from $86 to $111.88.