Xcel Energy Inc. (XEL - Free Report) posted first-quarter 2020 operating earnings of 56 cents per share, lagging the Zacks Consensus Estimate of 59 cents by 5.1%. The bottom line also declined 8.2% from the year-ago earnings of 61 cents per share.
The decline in earnings was mainly due to lower year-over-year demand on account of unfavorable weather conditions.
Total Revenues
Xcel Energy’s first-quarter revenues of $2,811 million missed the Zacks Consensus Estimate of $3,276 million by 14.2%. Revenues also fell 10.5% from the prior-year quarter’s $3,141 million. The decline was due to lower contribution from both electric and natural gas segments than the prior-year quarter.
Segment Results
Electric: Revenues declined 5.2% to $2,203 million from $2,325 million in the last reported quarter.
Natural Gas: Revenues fell 26.6% from the year-ago quarter to $583 million.
Other: Revenues in the segment amounted to $25 million, up 13.6% from the year-ago figure.
Quarterly Highlights
Total operating expenses fell 11.3% year over year to $2,356 million, primarily due to lower electric fuel and purchased power expenses.
Operating income in the reported quarter decreased 6.4% from the prior-year quarter to $455 million.
Total interest charges and financing costs in the reported quarter rose 5.6% from the prior-year figure to $189 million.
Looking Ahead
Xcel Energy reaffirmed its 2020 earnings per share guidance in the range of $2.73-$2.83 and long-term earnings growth in the band of 5-7% from a 2019 base of $2.60 (mid-point of the original 2019 guidance range). The mid-point of the current earnings guided range is $2.78, which is in line with the Zacks Consensus Estimate.
It is implementing contingency actions to offset the negative impacts of the COVID-19 pandemic, whose magnitude is quite uncertain.
Xcel Energy projects an annual increase in dividend rate in the range of 5-7% and targets a payout ratio of 60-70%.
Zacks Rank
Xcel Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Release
Dominion Energy Inc. (D - Free Report) reported first-quarter 2020 operating earnings of $1.09 per share, missing the Zacks Consensus Estimate by a penny.
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2020 adjusted earnings of $2.38 per share, surpassing the Zacks Consensus Estimate of $2.21 by 7.7%.
FirstEnergy Corporation (FE - Free Report) came up with first-quarter 2020 operating earnings of 66 cents per share, which beat the Zacks Consensus Estimate of 64 cents by 3.1%.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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 >>
Xcel Energy Inc. (XEL - Free Report) posted first-quarter 2020 operating earnings of 56 cents per share, lagging the Zacks Consensus Estimate of 59 cents by 5.1%. The bottom line also declined 8.2% from the year-ago earnings of 61 cents per share.
The decline in earnings was mainly due to lower year-over-year demand on account of unfavorable weather conditions.
Total Revenues
Xcel Energy’s first-quarter revenues of $2,811 million missed the Zacks Consensus Estimate of $3,276 million by 14.2%. Revenues also fell 10.5% from the prior-year quarter’s $3,141 million. The decline was due to lower contribution from both electric and natural gas segments than the prior-year quarter.
Segment Results
Electric: Revenues declined 5.2% to $2,203 million from $2,325 million in the last reported quarter.
Natural Gas: Revenues fell 26.6% from the year-ago quarter to $583 million.
Other: Revenues in the segment amounted to $25 million, up 13.6% from the year-ago figure.
Quarterly Highlights
Total operating expenses fell 11.3% year over year to $2,356 million, primarily due to lower electric fuel and purchased power expenses.
Operating income in the reported quarter decreased 6.4% from the prior-year quarter to $455 million.
Total interest charges and financing costs in the reported quarter rose 5.6% from the prior-year figure to $189 million.
Looking Ahead
Xcel Energy reaffirmed its 2020 earnings per share guidance in the range of $2.73-$2.83 and long-term earnings growth in the band of 5-7% from a 2019 base of $2.60 (mid-point of the original 2019 guidance range). The mid-point of the current earnings guided range is $2.78, which is in line with the Zacks Consensus Estimate.
It is implementing contingency actions to offset the negative impacts of the COVID-19 pandemic, whose magnitude is quite uncertain.
Xcel Energy projects an annual increase in dividend rate in the range of 5-7% and targets a payout ratio of 60-70%.
Zacks Rank
Xcel Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Release
Dominion Energy Inc. (D - Free Report) reported first-quarter 2020 operating earnings of $1.09 per share, missing the Zacks Consensus Estimate by a penny.
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2020 adjusted earnings of $2.38 per share, surpassing the Zacks Consensus Estimate of $2.21 by 7.7%.
FirstEnergy Corporation (FE - Free Report) came up with first-quarter 2020 operating earnings of 66 cents per share, which beat the Zacks Consensus Estimate of 64 cents by 3.1%.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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 >>
Get the latest research report on XEL - FREE
Get the latest research report on NEE - FREE
Get the latest research report on FE - FREE
Get the latest research report on D - FREE