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Xcel Energy (XEL) Beats on Earnings in Q2, Narrows View

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.

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Total Revenue

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.

Segment Results

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

XCEL ENERGY INC Price, Consensus and EPS Surprise | XCEL ENERGY INC Quote

Quarterly Highlights

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.

Financial Highlights

Total debt as of Sep 30, 2016 was $14.5 billion, out of which long-term debt comprised $13.4 billion.

Looking Ahead

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.

Zacks Rank

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


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

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