Markets
XEL

Xcel Energy Narrows 2019 Earnings Guidance To Upper Half Of Prior Range

(RTTNews) - Xcel Energy Inc. (XEL) narrowed its 2019 earnings guidance to $2.60 to $2.65 per share from $2.55 to $2.65 per share. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.62. Analysts' estimates typically exclude special items.

Xcel Energy's 2020 ongoing earnings guidance is a range of $2.73 to $2.83 per share. Analysts expect the company to report profit per share of $2.79.

For the long-term, the company targets to deliver annual earnings per share growth of 5 percent to 7 percent off of a 2019 base of $2.60 per share, which represents the mid-point of the original 2019 guidance range. Also, the company expects to deliver annual dividend increases of 5 percent to 7 percent over the long-term.

For the third-quarter, ongoing earnings was $1.01 per share, compared to $0.96, prior year. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $1.03, for the quarter. Analysts' estimates typically exclude special items. The company said its third-quarter earnings reflect higher electric margins primarily due to non-fuel riders and regulatory rate outcomes and lower O&M expenses, partially offset by lower AFUDC, increased depreciation and interest expenses.

Third-quarter total operating revenues declined to $3.01 billion from $3.05 billion, prior year. Analysts expected revenue of $3.47 billion, for the quarter.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

XEL

Latest Markets Videos

RTTNews

Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Learn More