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Xcel Energy (XEL) Q1 Earnings & Revenues Surpass Estimates

·3 min read

Xcel Energy Inc. XEL posted first-quarter 2022 operating earnings of 70 cents per share, which surpassed the Zacks Consensus Estimate of 68 cents by 2.9%. The bottom line also improved by 4.5% from the year-ago earnings of 67 cents per share.

Total Revenues

Xcel Energy’s first-quarter revenues of $3,751 million beat the Zacks Consensus Estimate of $3,571 million by 5%. The same improved by 6% from the year-ago quarter’s figure of $3,541 million.

Xcel Energy Inc. Price, Consensus and EPS Surprise

Xcel Energy Inc. Price, Consensus and EPS Surprise
Xcel Energy Inc. Price, Consensus and EPS Surprise

Xcel Energy Inc. price-consensus-eps-surprise-chart | Xcel Energy Inc. Quote

Segmental Results

Electric: Revenues declined by 8.3% to $2,633million from $2,870 million in the year-ago quarter.

Natural Gas: Revenues improved by 68.5% from the year-ago quarter’s $647 million to $1,090 million.

Other: Revenues in the segment increased 16.7% to $28 million from the year-ago quarter’s $24 million.

Highlights of the Release

Total operating expenses increased by 6.8% year over year to $3,241 million, primarily due to the higher operating and maintenance expenses and the increased cost of natural gas sold and transported.

Operating income in the reported quarter improved by 0.6% from the prior-year quarter’s reading to $510 million.

Total interest charges and financing costs in the reported quarter rose 4.5% from the prior-year figure to $209 million.

In the first quarter, the Electric and Natural Gas customer count increased 1.1% year over year.

Growth Prospects

Xcel Energy reaffirmed 2022 earnings per share (EPS) in the range of $3.10-$3.20. The Zacks Consensus Estimate for 2022 earnings of $3.17 per share is higher than $3.15, the midpoint of the guided range.XEL reiterated its plan to invest $26 billion during the 2022-2026 period. Out of the total, 30% of the planned expenditure will be directed toward strengthening electric distribution operations and another 29% for fortifying electric transmission operations.

Zacks Rank

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.

Upcoming Releases

Dominion Energy D is scheduled to announce first-quarter 2022 results on May 5 before market open. The Zacks Consensus Estimate for earnings is pegged at $1.17 per share.

Dominion’s long-term earnings growth is projected at 6.1%. The Zacks Consensus Estimate for D’s 2022 EPS suggests year-over-year growth of 6.7%.

Duke Energy DUK is set to release first-quarter 2022 results on May 9 before market open. The Zacks Consensus Estimate for EPS is pegged at $1.37.

Duke Energy’s long-term earnings growth is projected at 9.2%. The Zacks Consensus Estimate for DUK’s 2022 EPS indicates year-over-year growth of 4.2%.

Algonquin Power & Utilities AQN is set to release first-quarter 2022 results on May 12 after market open. The Zacks Consensus Estimate for EPS is pegged at 23 cents.

Algonquin Power & Utilities’ long-term (three to five years) earnings growth is projected at 8.1%. The Zacks Consensus Estimate for AQN’s 2022 EPS indicates year-over-year growth of 5.6%.


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