Xcel Energy Inc

Latest Results (17.12.2024):

Third Quarter Earnings

Xcel Energy Inc. reported its third quarter 2024 GAAP earnings at $682 million, or $1.21 per share, compared to $656 million, or $1.19 per share, in the same period of 2023. The ongoing earnings for the third quarter were $707 million, or $1.25 per share, compared to $682 million, or $1.23 per share, in 2023. This reflects a positive trend in earnings per share for the company.

Revenue Overview

For the third quarter of 2024, Xcel Energy Inc. recorded total operating revenues of $3,644 million, slightly down from $3,662 million in the third quarter of 2023. The electric segment contributed $3,393 million, while natural gas and other revenues were $239 million and $12 million, respectively. This indicates a stable revenue stream with minor fluctuations in different segments.

Operating Expenses

Xcel Energy Inc.'s total operating expenses for the third quarter of 2024 were $2,733 million, a slight decrease from $2,747 million in the same quarter of 2023. The expenses included costs for electric fuel and purchased power, natural gas, and other sales, along with operating and maintenance expenses. The company managed to control its expenses effectively during this period.

Income and Taxation

The operating income for Xcel Energy Inc. in the third quarter of 2024 was $911 million, compared to $915 million in the third quarter of 2023. The income before income taxes was $692 million, with an income tax expense of $10 million, showing a decrease from the previous year's tax expense of $40 million. This reflects a favorable tax position for the company in this quarter.

Future Outlook

Xcel Energy Inc. reaffirmed its 2024 ongoing EPS guidance of $3.50 to $3.60 and initiated its 2025 ongoing EPS guidance of $3.75 to $3.85. The company aims for a long-term annual growth objective of 6 to 8% in EPS and 4 to 6% in dividend growth. This outlook demonstrates Xcel Energy's commitment to growth and shareholder value in the coming years.