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Xcel Energy (XEL) Lags on Q3 Earnings & Sales, Narrows View
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Xcel Energy Inc. (XEL - Free Report) reported third-quarter 2018 operating earnings of 96 cents per share, missing the Zacks Consensus Estimate of 98 cents by 2.0%. Also, the bottom line declined 1.0% from the year-ago quarter’s tally.
The year-over-year fall in earnings was primarily caused by higher electric fuel and purchased power expenses along with increased operating and maintenance expenses.
Total Revenues
Xcel Energy’s third-quarter revenues of $3,048 million missed the Zacks Consensus Estimate of $3,083 million by 1.1%. Revenues inched up 1.0% from the prior-year quarter’s tally of $3,017 million.
Xcel Energy Inc. Price, Consensus and EPS Surprise
NextEra Energy (NEE - Free Report) reported third-quarter 2018 adjusted earnings of $2.18 per share, beating the Zacks Consensus Estimate of $2.17 by 0.46%.
DTE Energy Company (DTE - Free Report) reported third-quarter 2018 operating EPS of $2.13, which outpaced the Zacks Consensus Estimate of $1.74 by 22.4%.
Upcoming Utility Release
Dominion Energy Inc (D - Free Report) is expected to release third-quarter results on Nov 1. It has an Earnings ESP of +1.39% and a Zacks Rank #2.
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Xcel Energy (XEL) Lags on Q3 Earnings & Sales, Narrows View
Xcel Energy Inc. (XEL - Free Report) reported third-quarter 2018 operating earnings of 96 cents per share, missing the Zacks Consensus Estimate of 98 cents by 2.0%. Also, the bottom line declined 1.0% from the year-ago quarter’s tally.
The year-over-year fall in earnings was primarily caused by higher electric fuel and purchased power expenses along with increased operating and maintenance expenses.
Total Revenues
Xcel Energy’s third-quarter revenues of $3,048 million missed the Zacks Consensus Estimate of $3,083 million by 1.1%. Revenues inched up 1.0% from the prior-year quarter’s tally of $3,017 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 inched up 0.6% to $2,802 million from $2,784 million in the last reported quarter.
Natural Gas: Quarterly revenues improved 6.0% to $227 million from the year-ago quarter’s tally.
Other: Revenues in the segment amounted to $19 million in the quarter, in line with the year-ago quarter’s figure.
Quarterly Highlights
Total operating expenses increased 7.2% year over year to $2,352 million.
Operating income in the reported quarter declined 15.5% from the prior-year quarter’s tally to $696 million.
Total interest charges and financing costs in the reported quarter rose 4.5% from the prior-year quarter’s figure to $164 million.
Looking Ahead
Xcel Energy narrowed 2018 earnings per share (EPS) guidance in the range of $2.45-$2.49, from the previous expectation of $2.41-$2.51.
The company projects 2019 EPS in the range of $2.55-$2.65 and raised long-term earnings growth to 5-7% from 5-6%.
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.
Utility Releases
NextEra Energy (NEE - Free Report) reported third-quarter 2018 adjusted earnings of $2.18 per share, beating the Zacks Consensus Estimate of $2.17 by 0.46%.
DTE Energy Company (DTE - Free Report) reported third-quarter 2018 operating EPS of $2.13, which outpaced the Zacks Consensus Estimate of $1.74 by 22.4%.
Upcoming Utility Release
Dominion Energy Inc (D - Free Report) is expected to release third-quarter results on Nov 1. It has an Earnings ESP of +1.39% and a Zacks Rank #2.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>