Xcel Energy Inc (XEL) has announced that its third-quarter profits have increased compared to the same quarter last year, although the results fell short of Wall Street expectations.
The company reported a net income of $682 million, translating to earnings of $1.21 per share. This marks an increase from the $656 million, or $1.19 per share, recorded during the third quarter of the previous year.
On an adjusted basis, which excludes certain items, Xcel Energy Inc posted earnings of $707 million, or $1.25 per share, for this period. Market analysts, as surveyed by Thomson Reuters, had projected the company’s earnings to be $1.26 per share, but these estimates generally do not account for special items.
The company's quarterly revenue decreased slightly by 0.5%, falling to $3.644 billion, down from $3.662 billion in the corresponding quarter of the previous year.
Key financial highlights for Xcel Energy Inc this quarter (in accordance with GAAP) include:
- Earnings for Q3: $682 million compared to $656 million last year.
- Earnings Per Share (EPS) for Q3: $1.21, up from $1.19 last year.
- Revenue for Q3: $3.644 billion versus $3.662 billion last year.
**Outlook**: The company expects its full-year EPS to range between $3.75 and $3.85.
