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SECOND QUARTER 2018 EARNINGS REPORT
GAAP and ongoing 2018 second quarter earnings per share were $0.52 compared with $0.45 per share in 2017.
Xcel Energy revised upward its 2018 guidance range to $2.41 to $2.51 per share from its previous 2018 guidance range of $2.37 to $2.47 per share.
MINNEAPOLIS — Xcel Energy Inc. (NASDAQ: XEL) today reported 2018 second quarter GAAP and ongoing earnings of $265 million, or $0.52 per share, compared with $227 million, or $0.45 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 reflects favorable weather compared to last year and sales growth, and increased allowance for funds used during construction, partially offset by higher operating and maintenance expenses, as well as depreciation and interest expenses.
“Xcel Energy achieved strong quarterly and year-to-date results and is well-positioned to deliver earnings within our revised guidance range for the year,” said Ben Fowke, chairman, president and CEO of Xcel Energy.
“We made outstanding progress with our industry-leading reductions in carbon emissions while delivering exceptional value to customers and stakeholders. In June, we filed our Colorado Energy Plan which, if approved, will add 1,100 MW of wind, 700 MW of solar and 275 MW of large-scale battery storage, as we retire one-third of our remaining coal generation in the state. We’ve also achieved key regulatory milestones and now have approvals for our new wind projects in Texas, New Mexico and South Dakota,” 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 12:00 p.m. CDT on July 26 through 12:00 p.m. CDT on July 29.
The following information was filed by Northern States Power Co on Thursday, July 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.