Xcel Energy Inc. (XEL) reported third-quarter 2024 operating earnings of $1.25 per share, which lagged the Zacks Consensus Estimate of $1.29 by 3.1%. However, the bottom line increased 1.6% from the year-ago quarter’s $1.23.It reported GAAP earnings of $1.21 per share in the third quarter compared with $1.19 in the year-ago quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Total Revenues of XELThe company’s revenues of $3.65 billion missed the Zacks Consensus Estimate of $3.96 ...

Financial Data and Key Metrics Changes - Xcel Energy reported ongoing earnings of $1.25 per share for Q3 2024, an increase from $1.23 per share in Q3 2023, driven by outcomes from rate cases and nonfuel riders, which increased earnings by $0.25 per share [19] - GAAP earnings for Q3 2024 were $1.21 per share, with a charge of $35 million related to disallowed replacement power costs [5][19] - Year-to-date O&M expenses increased by $58 million, primarily due to increased generation maintenance and wildfire mitigation efforts [22] Business Line Data and Key Metrics Changes - The company invested $2 billion in resilient and reliable energy infrastructure during the quarter [8] - Weather-adjusted electric sales increased by 1.3% in Q3 2024, with a year-to-date increase of 0.2% [20] - The new five-year plan anticipates 5% annual electric sales growth, with approximately 50% of this growth coming from data centers [20] Market Data and Key Metrics Changes - Xcel Energy has nearly 9,000 megawatts of opportunities in its customer pipeline before 2030, indicating strong demand from data centers [11] - The company expects to secure contracts with about 25% of this pipeline within the five-year forecast period [12] Company Strategy and Development Direction - Xcel Energy is focused on clean energy investments, customer electrification, new load growth, and safety and reliability improvements [10] - The company has introduced a $45 billion capital investment plan aimed at supporting clean energy generation and enhancing energy infrastructure [10][26] - The company is committed to maintaining low customer bills, with residential electric and natural gas bills 28% and 14% below the industry average, respectively [10] Management's Comments on Operating Environment and Future Outlook - Management reaffirmed the 2024 ongoing earnings guidance range of $3.50 to $3.60 per share and initiated 2025 guidance of $3.75 to $3.85 per share [29] - The company updated its long-term EPS growth objective to 6% to 8%, reflecting confidence in its significant investment pipeline [30] - Management expressed optimism about the ongoing clean energy transition and the ability to meet future demand while maintaining affordability [72] Other Important Information - The company is actively working on wildfire risk reduction measures and has made significant progress in its wildfire mitigation efforts [17] - Xcel Energy has settled 86 of the 179 claims related to the Smokehouse Creek wildfire, with no change to its estimated accrued liability of $215 million [25] Q&A Session Summary Question: Details on the large land acquisition by a customer - The land acquisition was in Minnesota and is included in the forecast for high-probability loads, contributing to the 9,000 megawatts pipeline [35][39] Question: Financing and equity needs for the year - The company has fulfilled its equity needs for the year with a $1.1 billion issuance and may consider opportunistic actions if favorable [41][42] Question: CapEx increase reconciliation with equity - The CapEx increase is due to cash flow improvements and a lower dividend growth rate, allowing for flexibility in equity needs [43][44] Question: Wildfire mitigation actions and insurance - The company has implemented enhanced safety measures and is working on regulatory approvals for its wildfire mitigation plans [46][54] Question: New capital plan and load growth forecast - The $6 billion capital increase is a function of rolling forward the plan, with significant load growth expected from data centers and other sectors [57][58] Question: Confidence in wildfire outcomes and litigation - Management expressed confidence in their wildfire protection measures and ongoing litigation, emphasizing proactive actions taken [78] Question: Timing of capital expenditures - The timing of the $4.5 billion equity plan is expected to follow the shape of annual CapEx, which is larger in the initial years [83]

Xcel Energy (XEL) reported $3.64 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 0.5%. EPS of $1.25 for the same period compares to $1.23 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $3.97 billion, representing a surprise of -8.12%. The company delivered an EPS surprise of -3.10%, with the consensus EPS estimate being $1.29.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and h ...

Xcel Energy (XEL) came out with quarterly earnings of $1.25 per share, missing the Zacks Consensus Estimate of $1.29 per share. This compares to earnings of $1.23 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3.10%. A quarter ago, it was expected that this utility would post earnings of $0.55 per share when it actually produced earnings of $0.54, delivering a surprise of -1.82%.Over the last four quarters, the company has s ...

Xcel Energy (XEL) is scheduled to release third-quarter 2024 earnings on Oct. 31, before market open. The company delivered a negative earnings surprise of 1.82% in the last reported quarter. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. The Zacks Consensus Estimate for third-quarter earnings is pegged at $1.29 per share and the same for revenues is pinned at $3.97 billion. Per our proven model, stocks with a combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy) ...

Investors interested in Utility - Electric Power stocks are likely familiar with Xcel Energy (XEL) and American Electric Power (AEP) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look. Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank is a proven strategy that targets compa ...

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Investors interested in stocks from the Utility - Electric Power sector have probably already heard of Xcel Energy (XEL) and PSEG (PEG) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look. There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy that ...

Financial Performance - Second quarter GAAP and ongoing diluted earnings per share were $0.54 in 2024, up from $0.52 in 2023, reflecting a 3.85% increase[1] - Xcel Energy reported second quarter earnings of $302 million, compared to $288 million in the same period in 2023, representing a 4.86% year-over-year growth[1] - The company reaffirmed its 2024 EPS guidance of $3.50 to $3.60 per share[1] - Operating income for the second quarter was $449 million, compared to $418 million in the same period last year, marking a 7.43% increase[5] - Xcel Energy's Q2 2024 GAAP and ongoing diluted earnings per share (EPS) increased to $0.54, up from $0.52 in Q2 2023, driven by higher recovery of infrastructure investments and warmer weather[13] - NSP-Minnesota's year-to-date earnings increased by $0.13 per share, primarily due to increased recovery of electric and natural gas infrastructure investments[14] - PSCo's year-to-date earnings rose by $0.05 per share, attributed to increased recovery of electric infrastructure investments[14] - SPS's Q2 earnings increased by $0.01 per share, supported by regulatory rate outcomes and increased sales, despite higher depreciation[14] - NSP-Wisconsin's Q2 earnings decreased by $0.01 per share, largely due to unfavorable weather and increased depreciation[14] - The estimated impact of temperature variations on EPS for Q2 2024 compared to normal weather conditions was an increase of $0.022[17] - Long-term annual EPS growth is targeted at 5% to 7%, based on a 2023 actual ongoing earnings base of $3.35 per share[67] Revenue and Sales - Total operating revenues for the second quarter were $3,028 million, slightly up from $3,022 million in 2023[5] - Electric operating revenues increased to $2,659 million in Q2 2024 from $2,601 million in Q2 2023, a growth of 2.23%[5] - Total retail electric sales for Xcel Energy showed a decline of 0.2% year-to-date, with residential sales decreasing by 1.9%[20] - Firm natural gas sales decreased by 10.9% year-to-date across Xcel Energy's operations[20] - Weather-normalized electric residential sales for Xcel Energy declined by 0.9% year-to-date, with variations across different regions[22] - Electric revenues decreased by $20 million year-to-date, impacted by lower costs of electric fuel and purchased power, which decreased by $344 million[25][24] - Natural gas revenues decreased by $385 million year-to-date, primarily due to lower commodity prices and volumes[24] Operating Expenses - Total operating expenses decreased to $2,579 million in Q2 2024 from $2,604 million in Q2 2023, a reduction of 0.96%[5] - Interest charges increased to $303 million in Q2 2024 from $256 million in Q2 2023, reflecting an 18.38% rise[5] - O&M expenses increased by $34 million for the second quarter but decreased by $11 million year-to-date, attributed to lower labor costs and a land sale gain[26] - Depreciation and amortization increased by $172 million year-to-date, mainly due to system expansion and recognition of previously deferred costs[26] - Interest charges rose by $89 million year-to-date, largely due to increased debt levels and higher interest rates[27] Capital and Investments - Xcel Energy's total debt increased to $29.372 billion, representing 62% of total capitalization as of June 30, 2024[30] - Xcel Energy issued approximately $93 million of equity through its at-the-market program through June 2024[34] - Total capital investments for the wildfire mitigation plan are estimated at $1.602 billion, with O&M expenses projected at $253 million[46] - The CPUC approved PSCo's Clean Heat Plan with a budget of $441 million through 2027, focusing on electrification and efficiency programs[47] - SPS's initial Integrated Resource Plan (IRP) projected resource needs of approximately 5,300 MW to 10,200 MW by 2030, accepted by the NMPRC in February 2024[48] Regulatory and Rate Changes - NSP-Minnesota filed for a natural gas rate increase of approximately $59 million (9.6%) in November 2023, with an interim rate of $51 million approved[36] - NSP-Minnesota also requested an increase of $8.5 million (9.4%) in North Dakota, with interim rates of $8 million approved[37] - NSP-Minnesota proposed a refund of $126 million for fuel over-recoveries in 2023, with a recommendation from the Department of Commerce for a $20 million refund for replacement power costs[38] - A customer refund of $34 million related to Sherco Unit 3 outage costs was recommended by the Administrative Law Judge, with a final decision expected in late 2024[39] - NSP-Wisconsin filed a 2025 stay-out proposal to offset $28 million in electric revenue deficiency and $3 million in natural gas revenue deficiency, expecting a Commission decision by year-end 2024[40] - PSCo requested a retail natural gas rate increase of $171 million (9.5%) based on a 10.25% ROE and a $4.2 billion retail rate base, with a proposed effective date of November 1, 2024[41] Weather Impact - The company anticipates continued recovery of infrastructure investments to support future earnings growth despite challenges from higher depreciation and interest charges[15] - Natural gas sales growth was driven by a 1.1% increase in residential customers and a 0.6% increase in C&I customers year-to-date[23] - Weather-normalized retail electric sales are expected to increase by 1%, while retail firm natural gas sales are projected to remain flat[65] - The Marshall Fire is estimated to have caused over $2 billion in property losses, with PSCo disputing its power lines' involvement in the fire's ignition[56] - SPS has accrued a $215 million estimated loss related to the Smokehouse Creek Fire Complex, reflecting potential liabilities from ongoing litigation[52]

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights. Analysts expect 'Operating revenues- Other' to come in at $52.37 million. The estimate points to a change of +87% from the year-ago quarter. Wall Street analysts forecast that Xcel Energy (XEL) will report quarterly earnings of $0.50 per share in its upcoming release, pointing to a ...