Xcel Energy Inc. (NYSE: XEL) recently reported Q3 EPS of $0.77, $0.02 which was better than better than the analysts’ estimate of $0.75. The revenue for the third quarter however came in at a lower figure of $2.92 billion as compared to the estimates which were at $2.98 billion. The company saw FY2013 EPS of $1.85-1.95 which also deviated from the consensus estimates of $1.91.
The company CEO, chairman and president Ben Fowke said on the occasion that the combination of good weather and effective actions taken on the part of the management put the company in a position to deliver on the ongoing earnings of 2013 in the upper half of the range provided by guidance. He also added that the company has updated their financial objectives by increasing the dividend growth rate to 6% from 4% to align it with their earnings per share growth rate which stands at 4-6%. He said that this would give their shareholders the prospect of an attractive total return for the future. The company also introduced their earnings guidance of %1-90-2.05 for the year 2014.
Adding further he also said that the company was successfully able to meet the challenges faced due to flooding in Colorado, he said that the company had successfully repaired thousands of gas and electric meters pointing out that the company was ready to face any such contingencies.
The company reported earnings of $.077 per share which was a decrease compared to the figures from the same quarter from 2012 which was at $0.78 per share. The year-to-date basis, ongoing earnings also registered a slight growth at $1.65 per share compared to $1.54 per share from last year’s figures.
Xcel Energy Inc. is a well known utility holding company which supplies more than 3.3 million customers with electricity and around 1.8 million customers with natural gas.
