| ||414 Nicollet Mall|
|July 30, 2020||Minneapolis, MN 55401|
SECOND QUARTER 2020 EARNINGS REPORT
•GAAP 2020 second quarter earnings per share were $0.54 compared with $0.46 per share in 2019.
•Xcel Energy reaffirms 2020 EPS earnings guidance of $2.73 to $2.83 per share, which assumes the continued implementation of contingency plans will be sufficient to offset the negative impacts of the COVID-19 pandemic under our base case scenario. For additional information, see Notes 5 and 6.
MINNEAPOLIS — Xcel Energy Inc. (NASDAQ: XEL) today reported 2020 second quarter GAAP and ongoing earnings of $287 million, or $0.54 per share, compared with $238 million, or $0.46 per share in the same period in 2019.
“Despite lower sales due to COVID-19, Xcel Energy achieved strong second quarter results primarily due to the positive impact of weather and cost management efforts. We are on track with our financial plan and are reaffirming our 2020 earnings guidance of $2.73 to $2.83 per share. However, we’ll continue to monitor and manage through the economic uncertainty of this pandemic,” said Ben Fowke, chairman and CEO of Xcel Energy.
“At the same time we are delivering for our shareholders, we continue to deliver for our customers and communities. Across our service territory, we are working with key stakeholders and communities to find ways to help support economic recovery efforts. In Minnesota, we recently proposed a plan to spend nearly $3 billion in energy investments to help boost job growth and economic activity in the state,” continued Fowke. “Those proposed projects alone would create an estimated 5,000 jobs and add more wind and solar to our system in our home state. In addition, we continue to work with our customers and commissions to support those that are struggling with bills in these challenging times.”
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.
|US Dial-In:||(888) 224-1121 |
|International Dial-In:||(400) 120-9101|
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 12:00 p.m. CDT on July 30 through 12:00 p.m. CDT on August 2.
|US Dial-In:||(888) 203-1112|
|International Dial-In:||(719) 457-0820|
The following information was filed by Northern States Power Co on Thursday, July 30, 2020 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.