Xcel Energy (XEL) Misses Q4 EPS by 1c, Revenues Beat; Reaffirms FY21 EPS Guidance Above Consensus

Xcel Energy (NASDAQ: XEL) reported Q4 EPS of $0.54, $0.01 worse than the analyst estimate of $0.55. Revenue for the quarter came in at $2.95 billion versus the consensus estimate of $2.84 billion.

“Xcel Energy had a strong year despite the challenges brought on by COVID-19,” said Ben Fowke, chairman and CEO. “We achieved major milestones while keeping our employees and customers safe and are well positioned for the coming year and beyond.”

“I’m proud of the support we provided our communities, committing nearly $20 million to short and long-term corporate giving. Our $750 million plan to repower several wind farms in Minnesota was approved, which is expected to result in substantial customer savings and jobs creation. In Colorado, we received approval for an electric vehicle plan and are excited about the related opportunities. We also announced the early retirement of the Hayden and Craig coal plants and plans to convert our Harrington facility to natural gas. These achievements move us closer to achieving our goals of an 80% carbon reduction by 2030 and delivering 100% carbon-free electricity by 2050.”

GUIDANCE:

Xcel Energy sees FY2021 EPS of $2.90-$3.00, versus the consensus of $2.79.

For earnings history and earnings-related data on Xcel Energy (XEL) click here.

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