Back to top

Xcel Energy (XEL) Tops on Q1 Earnings, Reaffirms '18 View

Read MoreHide Full Article

Xcel Energy Inc. (XEL - Free Report) recorded first-quarter 2018 operating earnings of 57 cents per share, beating the Zacks Consensus Estimate of 51 cents by 11.8%. Also, the bottom line was 21.3% lower than the year-ago quarter.

The year-over-year increase in earnings was due to improvement in electric and natural gas margins, thanks to favorable weather compared to last year.

GAAP earnings in the quarter were 57 cents compared with 47 cents reported in the year-ago quarter.

Total Revenues

Xcel Energy’s first-quarter revenues of $2,951 million missed the Zacks Consensus Estimate of $2,956 million by 0.2%. Revenues were marginally higher than the prior-year quarter’s figure of $2,946 million.

Xcel Energy Inc. Price, Consensus and EPS Surprise

Xcel Energy Inc. Price, Consensus and EPS Surprise | Xcel Energy Inc. Quote

Segment Results

Electric: Revenues decreased to $2,270 million from $2,299 million in the last reported quarter.

Natural Gas: Quarterly revenues improved 5.8% to $662 million from a year ago.

Other: The segment recorded revenues of $19 million in the quarter, down 9.5% from the year-ago quarter.

Quarterly Highlights

Total operating expenses increased 0.7% year over year to $2,471 million. Costs increased primarily due to higher electric and fuel purchase power expenses.

Operating income in the reported quarter was down 2.4% from the prior-year quarter to $480 million.

Looking Ahead

Xcel Energy expects its 2018 operating earnings to be in the range of $2.37-$2.47 per share.

The company expects to deliver long-term earnings growth within 5-6% from the 2017 base of $2.30 per share.

Zacks Rank

Xcel Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Peer Releases

NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2018 adjusted earnings of $1.94 per share, beating the Zacks Consensus Estimate of $1.78 by 8.9%.

FirstEnergy Corp. (FE - Free Report) reported first-quarter 2018 operating earnings of 67 cents per share, lagging the Zacks Consensus Estimate of 68 cents by 1.5%.

Avangrid Inc. (AGR - Free Report) reported first-quarter 2018 operating earnings of 78 cents per share, lagging the Zacks Consensus Estimate of 79 cents by 1.3%.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.

Click here for the 6 trades >>



More from Zacks Analyst Blog

You May Like