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THIRD QUARTER 2018 EARNINGS REPORT
Xcel Energy reports 2018 third quarter EPS of $0.96 per share compared with $0.97 per share in 2017.
Xcel Energy narrows its 2018 EPS guidance range to $2.45 to $2.49 from previous EPS guidance of $2.41 to $2.51.
Xcel Energy initiates 2019 EPS guidance of $2.55 to $2.65.
Xcel Energy increases its long-term EPS growth objective to 5 to 7 percent.
MINNEAPOLIS — Xcel Energy Inc. (NASDAQ: XEL) today reported 2018 third quarter GAAP and ongoing earnings of $491 million, or $0.96 per share, compared with $492 million, or $0.97 per share in the same period in 2017.
Earnings results for the quarter are a function of higher electric and natural gas margins due to favorable weather and sales growth, higher AFUDC and a lower tax rate, which were more than offset by higher depreciation, operating and maintenance, and interest expenses.
“Third quarter results were in line with our forecast, while our year-to-date results continue to be favorable,” said Ben Fowke, chairman, president and CEO of Xcel Energy. “We are on track to achieve our revised year-end earnings guidance, we are well positioned for the future, and we are increasing our long-term growth objective to 5 to 7 percent,”
“We reached important milestones in our strategy of expanding our clean energy portfolio and upgrading the grid, including approval of the Colorado Energy Plan and our innovative supply agreement with EVRAZ, a major Colorado employer,” said Fowke. “We also made strides in delivering new energy options and enhanced services for our customers, like our Minnesota proposal to advance the electric vehicle transition through affordable charging options and filing for approval of our RenewableConnect product in Wisconsin. These initiatives further our vision of being the preferred and trusted provider of the energy our customers need.”
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 Oct. 25 through 12:00 p.m. CDT on Oct. 28.
The following information was filed by Northern States Power Co on Thursday, October 25, 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.