Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Xcel Energy Inc    XEL   US98389B1008

XCEL ENERGY INC (XEL)

7
SummaryQuotesChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 

Xcel Energy Inc : Xcel Energy 1Q Net Slips 9.7% On Warm Winter

04/26/2012 | 08:09am US/Eastern
Recommend:
0

Xcel Energy Inc.'s (XEL) first-quarter profit fell 9.7% from an essentially flat core performance a year earlier as warm winter weather reduced demand for electricity and natural gas.

The profit decline, which included a much-worse-than-expected top line, comes after a streak of improving results last year for the Minnesota-based utility, which serves a broad range of markets in Colorado and the Midwest.

Chairman and Chief Executive Ben Fowke in February warned Xcel faces new headwinds this year due to weaker electric and natural gas sales amid a spate of mild weather across the U.S. that threatens its bottom line.

The company recently reached a settlement in Colorado that will phase in rate increases gradually through 2014, potentially offering the multistate utility company more certainty about its future revenue.

In the latest quarter, the company said it experienced one of the warmest winters on record, prompting it to start cutting costs.

Xcel reported a profit of $183.9 million, down from $203.6 million a year earlier. On a per-share basis that includes the effect of preferred-share dividend payments, earnings fell to 38 cents from 42 cents as revenue slipped 8.5% to $2.58 billion.

Analysts polled by Thomson Reuters expected a 36-cent per-share profit and $2.72 billion of revenue.

Operating margin narrowed to 14.7% from 15.1%.

Revenue from Xcel's electricity business eased 4.6%, while natural-gas sales dropped 19%.

Shares of Xcel closed at $26.93 Wednesday and were inactive premarket.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

Recommend :
0
React to this article
Latest news on XCEL ENERGY INC
5d ago XCEL ENERGY : Lighthouse Solar is getting off the Solarcoaster
7d ago XCEL ENERGY : Investment in Plainview-area power facilities surging
07/18 XCEL ENERGY : Lighthouse Solar is getting off the Solarcoaster
07/17 XCEL ENERGY : Cites Investment Surge in Plainview-Area Power Facilities
07/16 XCEL ENERGY : Colorado Springs Utilities to Xcel: 'Thanks, but no thanks'
07/14 XCEL ENERGY : Investment in Plainview-Area Power Facilities Surging
07/10 XCEL ENERGY : Minnesota company interested in buying Colorado Springs Utilities'..
07/09 XCEL ENERGY : management blamed for cost overruns at Monticello nuclear plant
07/09 XCEL ENERGY : FERC Issues Letter Order Accepting Southwest Power Pool Inc's 5/22..
07/07 XCEL ENERGY : Other Events (form 8-K)
Advertisement
Chart
Duration : Period :
Xcel Energy Inc Technical Analysis Chart | XEL | US98389B1008 | 4-Traders
Income Statement Evolution
Xcel Energy Inc : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF