reported fourth-quarter earnings today that met Wall Street's lowered expecations.
For the fourth quarter ended Dec. 31, Xcel earned $137.8 million, or 49 cents a share, before charges. In the year-ago period, the company, which is based in Minneapolis, reported earnings of $147.3 million, or 50 cents a share. Two analysts surveyed by
First Call/Thomson Financial
initially expected Xcel to earn 51 cents a share, then lowered the expectation to 49 cents.
Xcel also posted fourth-quarter revenue of $4.98 billion, up from $2.21 billion for the same quarter one year ago.
The company, which was formed in August by the merger of Minneapolis-based
Northern States Power
New Century Energies
, generates and distributes electricity and gas.
Shares of Xcel fell 52 cents, or 2%, to $25.48 in recent
New York Stock Exchange