Minneapolis-based Xcel Energy Inc . XEL recorded third-quarter operating earnings of 90 cents per share, outpacing the Zacks Consensus Estimate of 87 cents by 3.5%. Reported earnings also improved 7.1% on a year-over-year basis.
Xcel Energy's third-quarter revenues of $3,040.1 million surpassed the Zacks Consensus Estimate of $2,965 million by 2.5% and were up 4.8% from the prior-year quarter level of $2,901.3 million.
Electric: Segment revenues increased from $2,667.5 million to $2,799.9 million in the reported quarter.
Natural Gas: Quarterly revenues grew 2.7% to $221.9 million.
Other: The segment raked in revenues of $18.2 million in the quarter, up 2.3%.
XCEL ENERGY INC Price, Consensus and EPS Surprise
Total operating expenses increased 4.6% year over year to $2,213.1 million. Costs increased primarily due to higher depreciation and amortization, and higher operating and maintenance expenses.
Operating income in the reported quarter increased 5.3% to $827.1 million.
Total debt as of Sep 30, 2016 was $14.5 billion, out of which long-term debt comprised $13.4 billion.
Xcel Energy narrowed its 2016 operating earnings guidance to the range of $2.17-$2.22 per share from the previous guidance of $2.12-$2.27. The company projects a long-term annual earnings growth rate of 4-6%, off the base of 2015 operating earnings of $2.10.
Xcel Energy anticipates 2017 operating earnings in the range of $2.25-$2.35 per share.
Upcoming Peer Releases
American Electric Power AEP is set to report third-quarter 2016 results on Nov 1. The Zacks Consensus Estimate for the quarter stands at $1.19.
Duke Energy Corporation DUK is set to report third-quarter 2016 results on Nov 4. The Zacks Consensus Estimate for the quarter stands at $1.55.
PG&E Corporation PCG is set to report third-quarter 2016 results on Nov 4. The Zacks Consensus Estimate for the quarter stands at $1.17.
Xcel Energy currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
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