414 Nicollet Mall
Minneapolis, MN 55401
FIRST QUARTER 2018 EARNINGS REPORT
GAAP and ongoing 2018 first quarter earnings per share were $0.57 compared with $0.47 per share in 2017.
Xcel Energy reaffirms 2018 GAAP and ongoing earnings guidance of $2.37 to $2.47 per share.
MINNEAPOLIS — Xcel Energy Inc. (NASDAQ: XEL) today reported 2018 first quarter GAAP and ongoing earnings of $291 million, or $0.57 per share, compared with $239 million, or $0.47 per share in the same period in 2017.
GAAP and ongoing earnings were higher as a result of increased electric and natural gas margins (excluding the impact of the Tax Cuts and Jobs Act) which reflect favorable weather compared to last year, timing of operating and maintenance expenses and an increased allowance for funds used during construction, partially offset by higher depreciation and interest expenses.
“Xcel Energy delivered solid first-quarter results and is well-positioned to achieve our overall objectives for 2018,” said Ben Fowke, chairman, president and CEO of Xcel Energy. “We are happy with our progress in executing our industry-leading wind energy expansion that puts us on pace to achieve over a 60 percent reduction in carbon across our eight states by 2030 while keeping customer bills affordable and helping our stakeholders achieve their policy goals.”
“We combined our financial performance with outstanding operational performance. In April, two of our states weathered epic storms; a historic blizzard buried Minnesota with record snow totals and days later, a fierce wind storm battered Colorado with hurricane-force gusts. Our crews worked around the clock, facing challenging conditions to get the lights back on for thousands of our customers and communities, and demonstrated why I believe we have the best storm response in the industry,” concluded Fowke.
At 9:00 a.m. CDT today, Xcel Energy will host a conference call to review financial results. To participate in the call, please dial- in 5 to 10 minutes prior to the start and follow the operator’s instructions.
The conference call also will be simultaneously broadcast and archived on Xcel Energy’s website at www.xcelenergy.com. To access the presentation, click on Investor Relations. If you are unable to participate in the live event, the call will be available for replay from 1:00 p.m. CDT on April 26 through 11:00 p.m. CDT on April 29.
The following information was filed by Northern States Power Co on Thursday, April 26, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.