Xcel Energy (XEL) Q4 Earnings on Par With Estimates, Sales Beat
Xcel Energy Inc. XEL posted fourth-quarter 2022 operating earnings of 69 cents per share, which were on par with the Zacks Consensus Estimate. The bottom line improved 18.9% from the year-ago earnings of 58 cents per share.
In 2022, adjusted earnings per share were $3.17, up 7.1% from $2.96 per share in the year-ago period. Earnings were near the upper end of the guidance range of $3.14-$3.19 per share.
Xcel Energy’s fourth-quarter revenues of $4,053 million beat the Zacks Consensus Estimate of $3,537 million by 14.6%. The same improved by 20.8% from the year-ago quarter’s figure of $3,355 million. The year-over-year improvement was due to strong performance from all segments.
In 2022, total revenues were $15,310 million, up 14% year over year.
Xcel Energy Inc. Price and Consensus
Xcel Energy Inc. price-consensus-chart | Xcel Energy Inc. Quote
Electric: Revenues improved 11.9% to $2,868 million from $2,562 million in the year-ago quarter.
Natural Gas: Revenues improved 50.6% from the year-ago quarter’s $1,157 million to $768 million.
Other: Revenues in the segment increased 12% to $28 million from the year-ago quarter’s $25 million.
Highlights of the Release
Total operating expenses increased 20.7% year over year to $3,528 million, primarily due to higher operating and maintenance expenses, higher electric fuel and purchased power costs and the increased cost of natural gas sold and transported.
The operating income in the reported quarter improved 21.2% from the prior-year quarter’s reading to $525 million.
Total interest charges and financing costs in the reported quarter rose 16% from the prior-year figure to $239 million.
Xcel Energy reiterated its 2023 EPS guidance in the range of $3.30-$3.40. The Zacks Consensus Estimate of $3.36 for 2023 is marginally ahead of the midpoint of the 2023 EPS range.
XEL expects to invest $29.5 billion during the 2023-2027 period. More than 60% of the planned capital expenditure will be directed toward strengthening its electric transmission and distribution network.
Xcel Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
WEC Energy Group WEC is set to release fourth-quarter 2022 results on Feb 2. The Zacks Consensus Estimate for earnings per share is pegged at 75 cents.
WEC Energy’s long-term (three- to five-year) earnings growth is projected at 6.2%. The Zacks Consensus Estimate for 2023 earnings per share indicates year-over-year growth of 4.4%.
Dominion Energy D is scheduled to announce fourth-quarter 2022 results on Feb 8. The Zacks Consensus Estimate for earnings is pegged at $1.05 per share.
Dominion’s long-term earnings growth is projected at 5.8%. The Zacks Consensus Estimate for 2022 earnings per share suggests year-over-year growth of 6.2%.
Edison International EIX is scheduled to announce fourth-quarter 2022 results on Feb 23. The Zacks Consensus Estimate for earnings per share is pegged at $1.08.
Edison International’s long-term earnings growth is 2.6%. The Zacks Consensus Estimate for 2023 earnings per share indicates a year-over-year decline of 4.4%.
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