This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Xcel Energy Third Quarter 2013 Earnings Report

Xcel Energy Inc. (NYSE: XEL) today reported 2013 third quarter GAAP earnings of $365 million, or $0.73 per share, compared with 2012 GAAP earnings of $398 million, or $0.81 per share.

Ongoing earnings, which exclude adjustments for certain items, were $0.77 per share for the third quarter of 2013 compared with $0.78 per share in 2012. Third quarter 2013 ongoing earnings declined as a result of cooler weather and higher operating and maintenance expenses. While third quarter 2013 weather was warmer than normal, it was cooler than the third quarter of 2012. These factors were partially offset by rate increases in various states.

Third quarter 2013 GAAP earnings include a $0.04 per share charge for a potential SPS customer refund based on FERC orders issued in August 2013 related to a 2004 complaint regarding the allocation of system average fuel costs and base rates. Third quarter 2012 GAAP earnings reflect the $0.03 per share positive impact for a tax benefit associated with federal subsidies for prescription drug plans.

“While the final electric rate increase in Minnesota was less than expected, the combination of favorable weather and effective management actions position us to deliver 2013 ongoing earnings in the upper half of our guidance range,” stated Ben Fowke, Chairman, President and Chief Executive Officer. “In addition, we have updated our financial objectives. We are increasing our dividend growth rate objective to 4 to 6 percent to align with our annual earnings per share growth rate of 4 to 6 percent that should allow us to provide an attractive total return for our shareholders for years to come. We are also introducing our 2014 ongoing earnings guidance of $1.90 to $2.05 per share.”

“Finally, we faced another operational challenge with the severe flooding in Colorado, a challenge we again successfully met. Repairing miles of natural gas pipe and thousands of gas and electric meters is substantially complete; again clearly demonstrating that we are well prepared for such events,” said Fowke.

1 of 21

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs