Back to top

Image: Shutterstock

What's in the Cards for Xcel Energy (XEL) in Q1 Earnings?

Read MoreHide Full Article

Xcel Energy Inc. (XEL - Free Report) is scheduled to release first-quarter 2021 earnings on Apr 29, before market open. The company delivered a trailing four-quarter earnings surprise of 4.47%, on average.

Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.

Factors at Play

With economic activities gradually becoming normal amid nationwide vaccine rollout, Xcel Energy’s first-quarter results are expected to reflect elevated residential and commercial and Industrial (C&I) group sales and new rates, both of which are likely to have acted as tailwinds. Moreover, its focus on expense control is expected to have lowered its operating expenses and boosted earnings in the first quarter.

Q1 Projections

The Zacks Consensus Estimate for first-quarter 2021 sales is pegged at $3.09 billion, indicating 9.85% growth from the year-ago quarter’s reported figure. The consensus estimate for first-quarter earnings per share stands at 61 cents, implying an 8.93% rise from the year-earlier quarter’s reported number.

What Our Quantitative Model Predicts

Our proven model predicts an earnings beat for Xcel Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here. You can see the complete list of today’s Zacks #1 Rank stocks here.

Xcel Energy Inc. Price and EPS Surprise

Xcel Energy Inc. Price and EPS Surprise

Xcel Energy Inc. price-eps-surprise | Xcel Energy Inc. Quote

 

Earnings ESP: Xcel Energy has an Earnings ESP of +0.41%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Currently, Xcel Energy carries a Zacks Rank #3.

 

Stocks to Consider

Investors can consider the following players from the same industry that have the right combination of elements to beat on earnings this reporting cycle.

DTE Energy Company (DTE - Free Report) is set to release first-quarter 2021 results on Apr 27. It has an Earnings ESP of +0.68% and is Zacks #3 Ranked, presently.

CenterPoint Energy, Inc. (CNP - Free Report) is set to release first-quarter 2021 results on May 6. It has an Earnings ESP of +4.52% and a Zacks Rank of 3, presently.

Duke Energy Corporation (DUK - Free Report) is set to release first-quarter 2021 results on May 10. It has an Earnings ESP of +0.16% and is currently a #3 Ranked player.

Zacks' Top Picks to Cash in on Artificial Intelligence

In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.

See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>