We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Xcel Energy (XEL) Q1 Earnings & Revenues Surpass Estimates
Read MoreHide Full Article
Xcel Energy Inc. (XEL - Free Report) posted first-quarter 2022 operating earnings of 70 cents per share, which surpassed the Zacks Consensus Estimate of 68 cents by 2.9%. The bottom line also improved by 4.5% from the year-ago earnings of 67 cents per share.
Total Revenues
Xcel Energy’s first-quarter revenues of $3,751 million beat the Zacks Consensus Estimate of $3,571 million by 5%. The same improved by 6% from the year-ago quarter’s figure of $3,541 million.
Xcel Energy Inc. Price, Consensus and EPS Surprise
Electric: Revenues declined by 8.3% to $2,633million from $2,870 million in the year-ago quarter.
Natural Gas: Revenues improved by 68.5% from the year-ago quarter’s $647 million to $1,090 million.
Other: Revenues in the segment increased 16.7% to $28 million from the year-ago quarter’s $24 million.
Highlights of the Release
Total operating expenses increased by 6.8% year over year to $3,241 million, primarily due to the higher operating and maintenance expenses and the increased cost of natural gas sold and transported.
Operating income in the reported quarter improved by 0.6% from the prior-year quarter’s reading to $510 million.
Total interest charges and financing costs in the reported quarter rose 4.5% from the prior-year figure to $209 million.
In the first quarter, the Electric and Natural Gas customer count increased 1.1% year over year.
Growth Prospects
Xcel Energy reaffirmed 2022 earnings per share (EPS) in the range of $3.10-$3.20. The Zacks Consensus Estimate for 2022 earnings of $3.17 per share is higher than $3.15, the midpoint of the guided range.XEL reiterated its plan to invest $26 billion during the 2022-2026 period. Out of the total, 30% of the planned expenditure will be directed toward strengthening electric distribution operations and another 29% for fortifying electric transmission operations.
Dominion Energy (D - Free Report) is scheduled to announce first-quarter 2022 results on May 5 before market open. The Zacks Consensus Estimate for earnings is pegged at $1.17 per share.
Dominion’s long-term earnings growth is projected at 6.1%. The Zacks Consensus Estimate for D’s 2022 EPS suggests year-over-year growth of 6.7%.
Duke Energy (DUK - Free Report) is set to release first-quarter 2022 results on May 9 before market open. The Zacks Consensus Estimate for EPS is pegged at $1.37.
Duke Energy’s long-term earnings growth is projected at 9.2%. The Zacks Consensus Estimate for DUK’s 2022 EPS indicates year-over-year growth of 4.2%.
Algonquin Power & Utilities (AQN - Free Report) is set to release first-quarter 2022 results on May 12 after market open. The Zacks Consensus Estimate for EPS is pegged at 23 cents.
Algonquin Power & Utilities’ long-term (three to five years) earnings growth is projected at 8.1%. The Zacks Consensus Estimate for AQN’s 2022 EPS indicates year-over-year growth of 5.6%.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Xcel Energy (XEL) Q1 Earnings & Revenues Surpass Estimates
Xcel Energy Inc. (XEL - Free Report) posted first-quarter 2022 operating earnings of 70 cents per share, which surpassed the Zacks Consensus Estimate of 68 cents by 2.9%. The bottom line also improved by 4.5% from the year-ago earnings of 67 cents per share.
Total Revenues
Xcel Energy’s first-quarter revenues of $3,751 million beat the Zacks Consensus Estimate of $3,571 million by 5%. The same improved by 6% from the year-ago quarter’s figure of $3,541 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 declined by 8.3% to $2,633million from $2,870 million in the year-ago quarter.
Natural Gas: Revenues improved by 68.5% from the year-ago quarter’s $647 million to $1,090 million.
Other: Revenues in the segment increased 16.7% to $28 million from the year-ago quarter’s $24 million.
Highlights of the Release
Total operating expenses increased by 6.8% year over year to $3,241 million, primarily due to the higher operating and maintenance expenses and the increased cost of natural gas sold and transported.
Operating income in the reported quarter improved by 0.6% from the prior-year quarter’s reading to $510 million.
Total interest charges and financing costs in the reported quarter rose 4.5% from the prior-year figure to $209 million.
In the first quarter, the Electric and Natural Gas customer count increased 1.1% year over year.
Growth Prospects
Xcel Energy reaffirmed 2022 earnings per share (EPS) in the range of $3.10-$3.20. The Zacks Consensus Estimate for 2022 earnings of $3.17 per share is higher than $3.15, the midpoint of the guided range.XEL reiterated its plan to invest $26 billion during the 2022-2026 period. Out of the total, 30% of the planned expenditure will be directed toward strengthening electric distribution operations and another 29% for fortifying electric transmission operations.
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.
Upcoming Releases
Dominion Energy (D - Free Report) is scheduled to announce first-quarter 2022 results on May 5 before market open. The Zacks Consensus Estimate for earnings is pegged at $1.17 per share.
Dominion’s long-term earnings growth is projected at 6.1%. The Zacks Consensus Estimate for D’s 2022 EPS suggests year-over-year growth of 6.7%.
Duke Energy (DUK - Free Report) is set to release first-quarter 2022 results on May 9 before market open. The Zacks Consensus Estimate for EPS is pegged at $1.37.
Duke Energy’s long-term earnings growth is projected at 9.2%. The Zacks Consensus Estimate for DUK’s 2022 EPS indicates year-over-year growth of 4.2%.
Algonquin Power & Utilities (AQN - Free Report) is set to release first-quarter 2022 results on May 12 after market open. The Zacks Consensus Estimate for EPS is pegged at 23 cents.
Algonquin Power & Utilities’ long-term (three to five years) earnings growth is projected at 8.1%. The Zacks Consensus Estimate for AQN’s 2022 EPS indicates year-over-year growth of 5.6%.