By Minneapolis / St. Paul Business Journal

Rate hikes in Colorado and "favorable weather" boosted Xcel Energy Inc.'s profits in the second quarter, the utility company said Thursday.

Minneapolis-based Xcel reported second-quarter earnings of $140 million, or 30 cents per share, up from $117 million, or 25 cents per share, during the same period a year ago. Excluding one-time charges, the company's profit for the quarter totaled 29 cents per share, beating analysts' estimates of 27 cents per share.

Xcel's second-quarter revenue rose to $2.3 billion, up from $2.02 billion in the year-ago period. Analysts polled by Thomson Reuters had projected sales of $2.12 billion.

The company also on Thursday reaffirmed its full-year guidance, saying it expects to earn between $1.55 and $1.65 per share in 2010. Analysts were expecting earnings of $1.62 per share.

Xcel's (NYSE: XEL) stock price dipped less than 1 percent to $22.59 per share in morning trading, down from Wednesday's closing price of $22.65 per share.

Copyright 2010 American City Business Journals

http://twincities.bizjournals.com/twincities/stories/2010/07/26/daily34.html?ana=thestreet

Copyright bizjournals.com 2010

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