Titan Energy Services (ASX: TTN) released its investor update today, and the energy and infrastructure services group has big plans for its future.
Comprised of four subsidiaries covering a range of services equipment from drills to rigs to rooms, the company has managed to triple share prices in the last two years. For fiscal 2013, Titan upgraded earnings three times to deliver a finalized EBIT of $14.5 million, $1 million above its last guidance. At the same time, investors pocketed $0.055 per share in dividends, putting total shareholder returns at 113% for the year.
For fiscal 2014, Titan is looking large. The company announced FY 2014 EBIT guidance of $21 to $23 million as it expects to expand its services beyond Queensland and coal. Over the next 10 years, Titan will head into Queensland infrastructure and mining, Northern Territory, South Australia's Cooper Basin, West Australia, and New South Wales.
Titan has been busy securing additional contracts, and 2014's guidance will be bolstered by larger sales, contributions from new acquisitions, and the potential for growth in new markets altogether. There's no question that 2013 was a good year for Titan and its investors, and the company doesn't seem to be slowing down for the next one.
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Motley Fool contributor Justin Loiseau has no position in any stocks mentioned in this article. You can follow him on Twitter @TMFJLo.
