Xcel Energy (NASDAQ: XEL) reported Q1 EPS of $0.67, $0.06 better than the analyst estimate of $0.61. Revenue for the quarter came in at $3.54 billion versus the consensus estimate of $2.9 billion.

“Xcel Energy had a strong first quarter and we are reaffirming our expectation to deliver earnings within our annual guidance range,” said Ben Fowke, chairman and CEO. “We are also pleased to have achieved a significant milestone, reducing carbon emission 51% from 2005 levels, bringing us more than halfway to our vision of delivering 100% carbon-free electricity to our customers by 2050.”

“We recently proposed significant measures in Colorado that will transform the energy landscape and help the state continue its clean energy leadership. Our Colorado Clean Energy Plan adds more than 5,000 megawatts of renewable energy and accelerates the retirement of our coal plants. The plan will reduce carbon emissions 85% in Colorado and increase renewable energy to nearly 80% by 2030. To support this ambitious plan, we also proposed a significant transmission expansion that would add 560 miles of new lines to deliver renewable energy.”

GUIDANCE:

Xcel Energy sees FY2021 EPS of $2.90-$3.00, versus the consensus of $2.97.

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