Xcel Energy Inc. XEL reported third-quarter 2024 operating earnings of $1.25 per share, which lagged the Zacks Consensus Estimate of $1.29 by 3.1%. However, the bottom line increased 1.6% from the year-ago quarter’s $1.23.

It reported GAAP earnings of $1.21 per share in the third quarter compared with $1.19 in the year-ago quarter.

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Total Revenues of XEL

The company’s revenues of $3.65 billion missed the Zacks Consensus Estimate of $3.96 billion by 8.1%. The figure declined 0.5% from the year-ago quarter’s $3.66 billion.

Xcel Energy Inc. Price, Consensus and EPS Surprise

Xcel Energy Inc. price-consensus-eps-surprise-chart | Xcel Energy Inc. Quote

XEL’s Segmental Results

Electric: This segment’s revenues totaled $3.39 billion, up 0.2% from $3.38 billion in the year-ago quarter.

Natural Gas: Revenues in this segment declined 2.4% to $0.24 billion from $0.25 billion in the year-ago quarter.

Other: This segment’s revenues were $12 million compared with $30 million in the prior year quarter.

Highlights of XEL’s Q3 Release

Total operating expenses declined 0.5% year over year to $2.73 billion. This can be attributed to lower electric fuel and purchased power costs and the cost of natural gas sold and transported.

Operating income decreased 0.4% year over year to $911 million.

Total interest charges and financing costs rose 21.2% to $326 million from the prior-year quarter’s reported figure of $269 million.

In the reported quarter, Xcel Energy registered 1.3% growth in electric customer volume and a 1.1% increase in natural gas customer volume. In the same time frame, natural gas sales increased 0.1% from the year-ago period and electric sales volume increased 0.2%.

Guidance of XEL

Xcel Energy reaffirmed 2024 earnings per share in the range of $3.50- $3.60. The Zacks Consensus Estimate is pegged at $3.55, in line with the midpoint of the guided range. The company declared 2025 earnings per share guidance of $3.75-$3.85.

XEL estimates retail electric sales to increase 1% in 2024, while natural gas sales volumes are anticipated to decline 1% from the year-ago level.
 
Xcel Energy plans to invest $45 billion in 2025-2029 to further strengthen its infrastructure.

XEL’s Zacks Rank

XEL currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Releases

NextEra Energy, Inc. NEE reported third-quarter 2024 adjusted earnings of $1.03 per share, which beat the Zacks Consensus Estimate of 98 cents by 5.1%.

NEE’s long-term (three-to-five years) earnings growth rate is 8.12%. It delivered an average earnings surprise of 7.05% in the last four quarters.

DTE Energy Company DTE reported third-quarter 2024 operating earnings per share of $2.22, which beat the Zacks Consensus Estimate of $1.87 by 18.7%.

DTE’s long-term earnings growth rate is 8.2%. The company delivered an average earnings surprise of 8.89% in the last four quarters.

CenterPoint Energy CNP reported third-quarter 2024 adjusted earnings per share of 31 cents, which lagged the Zacks Consensus Estimate of 36 cents by 13.9%.

CNP’s long-term earnings growth rate is 7.12%. It delivered an average earnings surprise of 0.76% in the last four quarters.

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