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Xcel Energy (XEL) Q4 Earnings Meet Estimates, Sales Beat
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Xcel Energy Inc. (XEL - Free Report) posted fourth-quarter 2021 operating earnings of 58 cents per share, which is on par with the Zacks Consensus Estimate. The bottom line also rose 7.4% from the year-ago earnings of 54 cents.
Xcel Energy’s 2021 earnings per share (EPS) were $2.96, up 6% from $2.76 in 2020. The successful execution of XEL’s 2021 initiatives resulted in a strong performance.
Total Revenues
Xcel Energy’s fourth-quarter revenues of $3,355 million beat the Zacks Consensus Estimate of $3,136 million by 7%. The same improved 14% from the prior-year quarter’s $2,947 million.
Xcel Energy Inc. Price, Consensus and EPS Surprise
Electric: Revenues rose 8% to $2,562 million from $2,372 million in the year-ago quarter.
Natural Gas: Revenues improved 38.6% from the year-ago quarter’s $554 million to $768 million.
Other: Revenues in the segment increased 19% to $25 million from the year-ago quarter’s $21 million.
Highlights of the Release
Total operating expenses increased 16% year over year to $2,922 million, primarily due to higher electric fuel and purchased power and the cost of natural gas sold and transported.
Operating income in the reported quarter improved 1.6% from the prior-year quarter’s reading to $433 million.
Total interest charges and financing costs in the reported quarter fell 1.47% from the prior-year figure to $206 million.
In 2021, Electric and Natural Gas customers increased 1.2% and 1.1%, respectively, year over year.
Growth Prospects
Xcel Energy anticipates 2022 EPS in the range of $3.10-$3.20, in sync with its long-term growth objective of 5-7%. XEL expects to invest $26 billion during the 2022-2026 period.
PNM Resources (PNM - Free Report) is set to release fourth-quarter 2021 results on Feb 3. The Zacks Consensus Estimate for EPS is pegged at 15 cents.
PNM Resource’s long-term (three to five years) earnings growth is projected at 5.2%. The Zacks Consensus Estimate for PNM’s 2022 EPS indicates year-over-year growth of 5.86%.
Duke Energy (DUK - Free Report) is set to release fourth-quarter 2021 results on Feb 10. The Zacks Consensus Estimate for EPS is pegged at 95 cents.
Duke Energy’s long-term earnings growth is projected at 5.3%. The Zacks Consensus Estimate for DUK’s 2022 EPS indicates year-over-year growth of 4.59%.
Dominion Energy (D - Free Report) is scheduled to announce fourth-quarter 2021 results on Feb 11. The Zacks Consensus Estimate for earnings is pegged at 90 cents per share.
Dominion’s long-termearnings growth is projected at 6.6%. The Zacks Consensus Estimate for D’s 2022 EPS suggests year-over-year growth of 7%.
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Xcel Energy (XEL) Q4 Earnings Meet Estimates, Sales Beat
Xcel Energy Inc. (XEL - Free Report) posted fourth-quarter 2021 operating earnings of 58 cents per share, which is on par with the Zacks Consensus Estimate. The bottom line also rose 7.4% from the year-ago earnings of 54 cents.
Xcel Energy’s 2021 earnings per share (EPS) were $2.96, up 6% from $2.76 in 2020. The successful execution of XEL’s 2021 initiatives resulted in a strong performance.
Total Revenues
Xcel Energy’s fourth-quarter revenues of $3,355 million beat the Zacks Consensus Estimate of $3,136 million by 7%. The same improved 14% from the prior-year quarter’s $2,947 million.
Xcel Energy Inc. Price, Consensus and EPS Surprise
Xcel Energy Inc. price-consensus-eps-surprise-chart | Xcel Energy Inc. Quote
Segmental Results
Electric: Revenues rose 8% to $2,562 million from $2,372 million in the year-ago quarter.
Natural Gas: Revenues improved 38.6% from the year-ago quarter’s $554 million to $768 million.
Other: Revenues in the segment increased 19% to $25 million from the year-ago quarter’s $21 million.
Highlights of the Release
Total operating expenses increased 16% year over year to $2,922 million, primarily due to higher electric fuel and purchased power and the cost of natural gas sold and transported.
Operating income in the reported quarter improved 1.6% from the prior-year quarter’s reading to $433 million.
Total interest charges and financing costs in the reported quarter fell 1.47% from the prior-year figure to $206 million.
In 2021, Electric and Natural Gas customers increased 1.2% and 1.1%, respectively, year over year.
Growth Prospects
Xcel Energy anticipates 2022 EPS in the range of $3.10-$3.20, in sync with its long-term growth objective of 5-7%. XEL expects to invest $26 billion during the 2022-2026 period.
Zacks Rank
Xcel Energy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
PNM Resources (PNM - Free Report) is set to release fourth-quarter 2021 results on Feb 3. The Zacks Consensus Estimate for EPS is pegged at 15 cents.
PNM Resource’s long-term (three to five years) earnings growth is projected at 5.2%. The Zacks Consensus Estimate for PNM’s 2022 EPS indicates year-over-year growth of 5.86%.
Duke Energy (DUK - Free Report) is set to release fourth-quarter 2021 results on Feb 10. The Zacks Consensus Estimate for EPS is pegged at 95 cents.
Duke Energy’s long-term earnings growth is projected at 5.3%. The Zacks Consensus Estimate for DUK’s 2022 EPS indicates year-over-year growth of 4.59%.
Dominion Energy (D - Free Report) is scheduled to announce fourth-quarter 2021 results on Feb 11. The Zacks Consensus Estimate for earnings is pegged at 90 cents per share.
Dominion’s long-termearnings growth is projected at 6.6%. The Zacks Consensus Estimate for D’s 2022 EPS suggests year-over-year growth of 7%.