Xcel Energy (XEL) Tops Q3 EPS by 3c; Narrows Outlook
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Xcel Energy (NYSE: XEL) reported Q3 EPS of $0.90, $0.03 better than the analyst estimate of $0.87. Revenue for the quarter came in at $3.04 billion versus the consensus estimate of $3.27 billion.
Xcel Energy sees FY2016 EPS of $2.17-$2.22, versus prior guidance of $2.12-$2.27 and the consensus of $2.19.
“Third quarter results were in line with our plan and we are confident we will deliver earnings within our narrowed 2016 guidance range,” said Chairman, President and CEO Ben Fowke. “We continue to see new customer growth in much of our service territories, which has materialized into improved sales.”
“We are successfully executing our strategy by settling rate cases in Minnesota and Texas and achieving several milestones in our steel-for-fuel strategy with the approval of the Rush Creek wind farm in Colorado and our proposal to build and own 750 megawatts of new wind in the Upper Midwest. The abundance of wind in our service territory puts us in a unique position to continue to capitalize on this clean energy resource and drive significant carbon reductions at a tremendous value to our customers.”
“These actions provide a solid foundation for 2017 earnings guidance consistent with our long-term growth objective,” concluded Fowke.
For earnings history and earnings-related data on Xcel Energy (XEL) click here.
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