Minneapolis-based Xcel Energy Inc. (XEL - Free Report) recorded second-quarter 2016 operating earnings of 39 cents per share, lagging the Zacks Consensus Estimate of 41cents by 4.9%.Earnings were at par with the year-ago quarter figure.
Total Revenue
Xcel Energy’s second-quarter revenues of $2,499.8 million lagged the Zacks Consensus Estimate of $2,530 million by 1.2% and declinedmarginally from the prior-year quarter level of $2,515.1 million.
Segment Results
Electric: Segment revenues increased from $2,213.5 million to $2,224.1 million in the second quarter of 2016.
Natural Gas: Quarterly revenues dropped 8.9% to nearly $258.9 million in the reported quarter.
Other: Segment revenues of $16.8 million in the reported quarter decreased 4% from the year-ago period.
Quarterly Highlights
Total operating expenses decreased 1.2% year over year to $2068.3 million. Costs decreased primarily due to lower cost of natural gas sold and transported, and reduced expenses related to electric fuel and purchased power.
Operating income in the reported quarter increased 2% year over year to $431.6 million.
Financial Highlights
Total debt as of Jun 30, 2016, was $14.3 billion, out of which long-term debt comprised $13.1 billion.
2016 Guidance
Xcel Energy reiterated its 2016 operating earnings guidance in the range of $2.12–$2.27 per share with a projected long-term annual earnings growth rate of 4–6%.
Xcel Energy expects retail electric utility sales to decrease 0.5%, while natural gas sales are anticipated to be flat.
Peer Releases
NiSource Inc. (NI - Free Report) reported second-quarter operating earnings of 8 cents per share, surpassing the Zacks Consensus Estimate of 7 cents by 14.3%.
FirstEnergy Corporation (FE - Free Report) announced second-quarter operating earnings of 56 cents per share, beating the Zacks Consensus Estimate of 53 cents by 5.7%.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter adjusted earnings of $1.67 per share, outpacing the Zacks Consensus Estimate of $1.58 by 5.7%.
Zacks Rank
Xcel Energy currently has a Zacks Rank #4 (Sell).
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Minneapolis-based Xcel Energy Inc. (XEL - Free Report) recorded second-quarter 2016 operating earnings of 39 cents per share, lagging the Zacks Consensus Estimate of 41cents by 4.9%.Earnings were at par with the year-ago quarter figure.
Total Revenue
Xcel Energy’s second-quarter revenues of $2,499.8 million lagged the Zacks Consensus Estimate of $2,530 million by 1.2% and declinedmarginally from the prior-year quarter level of $2,515.1 million.
Segment Results
Electric: Segment revenues increased from $2,213.5 million to $2,224.1 million in the second quarter of 2016.
Natural Gas: Quarterly revenues dropped 8.9% to nearly $258.9 million in the reported quarter.
Other: Segment revenues of $16.8 million in the reported quarter decreased 4% from the year-ago period.
Quarterly Highlights
Total operating expenses decreased 1.2% year over year to $2068.3 million. Costs decreased primarily due to lower cost of natural gas sold and transported, and reduced expenses related to electric fuel and purchased power.
Operating income in the reported quarter increased 2% year over year to $431.6 million.
Financial Highlights
Total debt as of Jun 30, 2016, was $14.3 billion, out of which long-term debt comprised $13.1 billion.
2016 Guidance
Xcel Energy reiterated its 2016 operating earnings guidance in the range of $2.12–$2.27 per share with a projected long-term annual earnings growth rate of 4–6%.
Xcel Energy expects retail electric utility sales to decrease 0.5%, while natural gas sales are anticipated to be flat.
Peer Releases
NiSource Inc. (NI - Free Report) reported second-quarter operating earnings of 8 cents per share, surpassing the Zacks Consensus Estimate of 7 cents by 14.3%.
FirstEnergy Corporation (FE - Free Report) announced second-quarter operating earnings of 56 cents per share, beating the Zacks Consensus Estimate of 53 cents by 5.7%.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter adjusted earnings of $1.67 per share, outpacing the Zacks Consensus Estimate of $1.58 by 5.7%.
Zacks Rank
Xcel Energy currently has a Zacks Rank #4 (Sell).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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