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Xcel Energy Inc. (XEL - Free Report) recorded second-quarter 2018 operating earnings of 52 cents per share, beating the Zacks Consensus Estimate of 47 cents by 10.6%. Also, the bottom line was 15.6% higher than the year-ago quarter’s tally.
The year-over-year increase in earnings was driven by improvement in electric and natural gas margins, courtesy of comparatively favorable weather conditions. Sales growth also drove bottom-line performance.
Total Revenues
Xcel Energy’s second-quarter revenues of $2,658 million beat the Zacks Consensus Estimate of $2,655 million by a narrow margin. Revenues were 0.5% higher than the prior-year quarter’s $2,645 million.
Segment Results
Electric: Revenues inched up 0.4% to $2,348 million from $2,338 million in the last reported quarter.
Natural Gas: Quarterly revenues improved 0.7% to $292 million from a year ago.
Other: The segment recorded revenues of $18 million in the quarter, up 5.9% from the year-ago quarter.
Xcel Energy Inc. Price, Consensus and EPS Surprise
Total operating expenses fell 1.3% year over year to $2,208 million. Costs declined primarily due to lower cost of natural gas sold and transported expenses.
Operating income in the reported quarter was down 3.4% from the prior-year quarter to $450 million.
Looking Ahead
Xcel Energy raised 2018 earnings guidance. The company expects earnings per share in the range of $2.41-$2.51, compared with the previous range of $2.37-$2.47.
The company expects to deliver long-term earnings growth within 5-6% from the 2017 level of $2.30 per share.
DTE Energy (DTE - Free Report) reported second-quarter 2018 operating earnings per share of $1.36, which outpaced the Zacks Consensus Estimate of $1.11 by 22.5%.
American Electric Power (AEP - Free Report) reported second-quarter 2018 adjusted earnings per share (EPS) of $1.01, beating the Zacks Consensus Estimate of 88 cents per share by 14.8%.
NextEra Energy (NEE - Free Report) reported second-quarter 2018 adjusted earnings of $2.11 per share, beating the Zacks Consensus Estimate of $2.07 by 1.93%.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Xcel Energy (XEL) Tops Q2 Earnings & Sales, Ups '18 View
Xcel Energy Inc. (XEL - Free Report) recorded second-quarter 2018 operating earnings of 52 cents per share, beating the Zacks Consensus Estimate of 47 cents by 10.6%. Also, the bottom line was 15.6% higher than the year-ago quarter’s tally.
The year-over-year increase in earnings was driven by improvement in electric and natural gas margins, courtesy of comparatively favorable weather conditions. Sales growth also drove bottom-line performance.
Total Revenues
Xcel Energy’s second-quarter revenues of $2,658 million beat the Zacks Consensus Estimate of $2,655 million by a narrow margin. Revenues were 0.5% higher than the prior-year quarter’s $2,645 million.
Segment Results
Electric: Revenues inched up 0.4% to $2,348 million from $2,338 million in the last reported quarter.
Natural Gas: Quarterly revenues improved 0.7% to $292 million from a year ago.
Other: The segment recorded revenues of $18 million in the quarter, up 5.9% from the year-ago quarter.
Xcel Energy Inc. Price, Consensus and EPS Surprise
Xcel Energy Inc. Price, Consensus and EPS Surprise | Xcel Energy Inc. Quote
Quarterly Highlights
Total operating expenses fell 1.3% year over year to $2,208 million. Costs declined primarily due to lower cost of natural gas sold and transported expenses.
Operating income in the reported quarter was down 3.4% from the prior-year quarter to $450 million.
Looking Ahead
Xcel Energy raised 2018 earnings guidance. The company expects earnings per share in the range of $2.41-$2.51, compared with the previous range of $2.37-$2.47.
The company expects to deliver long-term earnings growth within 5-6% from the 2017 level of $2.30 per share.
Zacks Rank
Xcel Energy carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
DTE Energy (DTE - Free Report) reported second-quarter 2018 operating earnings per share of $1.36, which outpaced the Zacks Consensus Estimate of $1.11 by 22.5%.
American Electric Power (AEP - Free Report) reported second-quarter 2018 adjusted earnings per share (EPS) of $1.01, beating the Zacks Consensus Estimate of 88 cents per share by 14.8%.
NextEra Energy (NEE - Free Report) reported second-quarter 2018 adjusted earnings of $2.11 per share, beating the Zacks Consensus Estimate of $2.07 by 1.93%.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>