Xcel Energy (NASDAQ: XEL) reported Q1 EPS of $0.56, $0.04 worse than the analyst estimate of $0.60. Revenue for the quarter came in at $2.81 billion versus the consensus estimate of $3.18 billion.

“Xcel Energy achieved solid first quarter results, experiencing only minor impacts from COVID-19 due to the timing of stay-at-home policies in our service territories. We are responding to the economic impact from this global pandemic by implementing contingency plans to minimize the impact on our financial results that should allow us to deliver earnings within our guidance range of $2.73 to $2.83 per share. However, these are unprecedented times and the ultimate economic impact from the pandemic may be greater than anticipated,” said Ben Fowke, chairman and CEO of Xcel Energy.

“Our customers and communities are counting on Xcel Energy to deliver the reliable energy that is needed to support local hospitals, emergency responders, grocery stores and other critical operations. We’re also doing more than ever to support our communities. Along with the Xcel Energy Foundation, we have already donated $1.5 million to local nonprofit organizations, including those that address food scarcity and local chapters of the United Way. In total, we are planning to donate approximately $20 million in corporate giving, including COVID-19 relief in 2020. Together we will make it through these very challenging times.”

GUIDANCE:

Xcel Energy sees FY2020 EPS of $2.73-$2.83, versus the consensus of $2.76.

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