Xcel Energy Inc. (NYSE: XEL) today reported 2012 second quarter earnings of $183 million, or $0.38 per share compared with 2011 earnings of $159 million, or $0.33 per share.
Second quarter 2012 earnings increased largely due to higher electric margin, resulting from various rate increases and warmer than normal weather across all of Xcel Energy’s service territories. Higher property taxes and interest expense partially offset the strong electric margins.
“I am pleased to report strong second quarter earnings,” said Ben Fowke, Chairman, President and Chief Executive Officer. “Warmer weather combined with operating and maintenance cost management initiatives allowed us to mitigate the negative impact of regulatory decisions, including the Minnesota Commission’s denial of our request to defer incremental property taxes in 2012.”
“As a result, we continue to expect 2012 earnings per share to be in the lower half of our $1.75 to $1.85 guidance range.”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.
|US Dial-In:||(800) 762-8779|
|International Dial-In:||(480) 629-9645|
|US Dial-In:||(800) 406-7325|
|International Dial-In:||(303) 590-3030|
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