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 Beat Estimates
Read MoreHide Full Article
Xcel Energy Inc. (XEL - Free Report) reported first-quarter 2023 operating earnings of 76 cents per share, which beat the Zacks Consensus Estimate of 74 cents by 2.7%. The bottom line also improved 8.6% from the year-ago quarter’s 70 cents per share.
Total Revenues
The company’s revenues of $4,080 million beat the Zacks Consensus Estimate of $3,852 million by 5.9%. The same improved 8.8% from the year-ago quarter’s $3,751 million. The year-over-year improvement was due to strong performances in all segments.
Xcel Energy Inc. Price, Consensus and EPS Surprise
Electric: This segment’s revenues totaled $2,763 million, up 4.9% from $2,633 million in the year-ago quarter.
Natural Gas: Revenues in this segment improved 18.2% to $1,288 million from $1,090 million in the year-ago quarter.
Other: This segment’s revenues increased 3.6% to $29 million from $28 million in the prior-year period.
Highlights of the Release
Total operating expenses increased 8.2% year over year to $3,507 million. This was primarily due to higher operating and maintenance expenses, rising electric fuel and purchased power costs, and the increased cost of natural gas sold and transported.
Operating income increased 12.3% to $573 million from the prior-year quarter’s reading.
Total interest charges and financing costs rose 16.3% to $243 million from the prior-year quarter’s reported figure.
Guidance
Xcel Energy reaffirmed its 2023 EPS guidance of $3.30-$3.40. The Zacks Consensus Estimate for the same stands at $3.37, higher than the mid-point of the company’s guidance.
It expects to invest $29.5 billion during 2023-2027. More than 60% of the planned capital expenditure will be directed toward strengthening its electric transmission and distribution network.
Eversource Energy (ES - Free Report) is set to release first-quarter 2023 results on May 3, after market close. The Zacks Consensus Estimate for earnings is pegged at $1.36 per share, implying a year-over-year increase of 4.62%.
Eversource Energy’s long-term (three- to five-year) earnings growth is projected at 6.34%. The consensus estimate for 2023 EPS stands at $4.36, indicating a year-over-year improvement of 6.6%.
Exelon Corporation (EXC - Free Report) is slated to report first-quarter results on May 3, before market open. The Zacks Consensus Estimate for earnings is pegged at 67 cents per share, implying a year-over-year increase of 4.7%.
EXC’s long-term earnings growth is expected to be 6.68%. The consensus estimate for 2023 EPS stands at $2.36, indicating a year-over-year improvement of 3.96%.
Duke Energy (DUK - Free Report) is scheduled to report first-quarter results on May 9, before market open. The Zacks Consensus Estimate for earnings is pegged at $1.31 per share, indicating a year-over-year increase of 0.77%.
DUK’s long-term earnings growth is anticipated to be 6.18%. The consensus mark for 2023 EPS stands at $5.61, implying a year-over-year improvement of 6.45%.
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 Beat Estimates
Xcel Energy Inc. (XEL - Free Report) reported first-quarter 2023 operating earnings of 76 cents per share, which beat the Zacks Consensus Estimate of 74 cents by 2.7%. The bottom line also improved 8.6% from the year-ago quarter’s 70 cents per share.
Total Revenues
The company’s revenues of $4,080 million beat the Zacks Consensus Estimate of $3,852 million by 5.9%. The same improved 8.8% from the year-ago quarter’s $3,751 million. The year-over-year improvement was due to strong performances in all segments.
Xcel Energy Inc. Price, Consensus and EPS Surprise
Xcel Energy Inc. price-consensus-eps-surprise-chart | Xcel Energy Inc. Quote
Segmental Results
Electric: This segment’s revenues totaled $2,763 million, up 4.9% from $2,633 million in the year-ago quarter.
Natural Gas: Revenues in this segment improved 18.2% to $1,288 million from $1,090 million in the year-ago quarter.
Other: This segment’s revenues increased 3.6% to $29 million from $28 million in the prior-year period.
Highlights of the Release
Total operating expenses increased 8.2% year over year to $3,507 million. This was primarily due to higher operating and maintenance expenses, rising electric fuel and purchased power costs, and the increased cost of natural gas sold and transported.
Operating income increased 12.3% to $573 million from the prior-year quarter’s reading.
Total interest charges and financing costs rose 16.3% to $243 million from the prior-year quarter’s reported figure.
Guidance
Xcel Energy reaffirmed its 2023 EPS guidance of $3.30-$3.40. The Zacks Consensus Estimate for the same stands at $3.37, higher than the mid-point of the company’s guidance.
It expects to invest $29.5 billion during 2023-2027. More than 60% of the planned capital expenditure will be directed toward strengthening its electric transmission and distribution network.
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
Eversource Energy (ES - Free Report) is set to release first-quarter 2023 results on May 3, after market close. The Zacks Consensus Estimate for earnings is pegged at $1.36 per share, implying a year-over-year increase of 4.62%.
Eversource Energy’s long-term (three- to five-year) earnings growth is projected at 6.34%. The consensus estimate for 2023 EPS stands at $4.36, indicating a year-over-year improvement of 6.6%.
Exelon Corporation (EXC - Free Report) is slated to report first-quarter results on May 3, before market open. The Zacks Consensus Estimate for earnings is pegged at 67 cents per share, implying a year-over-year increase of 4.7%.
EXC’s long-term earnings growth is expected to be 6.68%. The consensus estimate for 2023 EPS stands at $2.36, indicating a year-over-year improvement of 3.96%.
Duke Energy (DUK - Free Report) is scheduled to report first-quarter results on May 9, before market open. The Zacks Consensus Estimate for earnings is pegged at $1.31 per share, indicating a year-over-year increase of 0.77%.
DUK’s long-term earnings growth is anticipated to be 6.18%. The consensus mark for 2023 EPS stands at $5.61, implying a year-over-year improvement of 6.45%.