Stock Monitor: Fortis Post Earnings Reporting

LONDON, UK / ACCESSWIRE / November 28, 2017 / Active-Investors' free earnings report on Xcel Energy Inc. (NYSE: XEL) has freshly been issued to its members. You can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=XEL. The Company posted its financial results on October 26, 2017, for the third quarter of the fiscal year 2017. The electricity and natural gas Company's earnings per share (EPS) surpassed analysts' expectations. Register today and get free access to our complimentary member's area, where many more reports are available: www.active-investors.com/registration-sg.

Active-Investors.com is currently working on the research report for Fortis Inc. (NYSE: FTS), which also belongs to the Utilities sector as the Company Xcel Energy. Do not miss out, become a member today for free to access this upcoming report at: www.active-investors.com/registration-sg/?symbol=FTS.

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Xcel Energy's most recent news is on our radar and we have decided to include it in our blog post. Today's free coverage is available at: www.active-investors.com/registration-sg/?symbol=XEL.

Earnings Highlights and Summary

For the three months ended September 30, 2017, Xcel Energy's (NYSE: XEL) total operating revenues decreased 0.7% to $3.02 billion from $3.04 billion in Q3 FY16. The total operating revenue numbers were below analysts' expectations of $3.19 billion.

During FY17, the Company's YTD total operating revenue increased 3.6% to $8.61 billion from $8.31 billion in the same period of last year.

For the reported quarter, Xcel Energy's operating and maintenance expenses decreased 8.2% to $541.54 million from $590.01 million in Q3 FY16. During Q3 FY17, the Company's D&A expenses increased 13% to $371.09 million from $328.50 million in the comparable period of last year, primarily due to capital investments. For the reported quarter, the Company's total operating expenses decreased 0.7% to $2.20 billion from $2.21 billion in Q3 FY16. The decrease was due to lower electric fuel and purchased power, and a drop in natural gas sold and transported.

During Q3 FY17, Xcel Energy's operating income decreased 1.1% to $818.36 million from $827.05 million in the corresponding period of last year. For the reported quarter, the Company's operating margin decreased 10 basis points to 27.1% of revenue from 27.2% of revenue in Q3 FY16.

During FY17, the Company's YTD operating income increased 0.6% to $1.76 billion from $1.75 billion in the same period of last year.

For the reported quarter, Xcel Energy's net income increased 7.5% to $492.14 million on a y-o-y basis from $457.80 million in Q3 FY16. The increase was due to higher electric margins to recover infrastructure investments, along with a lower effective tax rate and lower operating and maintenance expenses. During Q3 FY17, the Company's diluted earnings per share (EPS) increased 7.8% to $0.97 on a y-o-y basis from $0.90 in the comparable period of last year. The diluted EPS surpassed analysts' expectations of $0.92.

During FY17, the Company's YTD net income increased 7% to $958.67 million from $895.90 million in Q3 FY16. During FY17, the Company's YTD diluted EPS increased 6.8% to $1.88 from $1.76 in the corresponding period of last year.

Segment Details

Electric - During Q3 FY17, the Company's Electric segment's revenue decreased 0.6% to $2.78 billion from $2.80 billion in the same period of last year. For the reported quarter, the segment's operating income increased 1.1% to $1.78 billion from $1.76 billion in Q3 FY16.

Natural Gas - During Q3 FY17, the Company's Natural Gas segment's revenue decreased 3.5% to $214.25 million from $221.96 million in the comparable period of last year. For the reported quarter, the segment's operating income decreased 2.6% to $150 million from $154 million in Q3 FY16.

Balance Sheet

As on September 30, 2017, the Company's total debt increased 3.4% to $15.4 billion from $14.9 billion in Q4 FY16.

On August 30, 2017, SPS re-acquired $250 million of debt with a coupon rate of 8.75% and an original maturity date of December 01, 2018. The redemption resulted in the payment of an early redemption premium of $21.6 million, deferred as a regulatory asset.

On September 29, 2017, NSP-Minnesota re-acquired $500 million of debt with a coupon rate of 5.25% and an original maturity date of March 01, 2018. The redemption resulted in the payment of an early redemption premium of $7.9 million, deferred as a regulatory asset.

Outlook

For FY17, the Company expects diluted EPS to be in the range of $2.27 - $2.32.

Stock Performance Snapshot

November 27, 2017 - At Monday's closing bell, Xcel Energy's stock was slightly up 0.30%, ending the trading session at $50.86.

Volume traded for the day: 2.52 million shares.

Stock performance in the last month - up 3.69%; previous three-month period - up 2.66%; past twelve-month period - up 28.69%; and year-to-date - up 24.96%

After yesterday's close, Xcel Energy's market cap was at $25.87 billion.

Price to Earnings (P/E) ratio was at 21.84.

The stock has a dividend yield of 2.83%.

The stock is part of the Utilities sector, categorized under the Electric Utilities industry. This sector was up 0.3% at the end of the session.

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