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Xcel misses 1Q profit forecasts

MINNEAPOLIS (AP) _ Xcel Energy Inc. (XEL) on Thursday reported first-quarter profit of $239.3 million.

The Minneapolis-based company said it had profit of 47 cents per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The utility posted revenue of $2.95 billion in the period.

Xcel expects full-year earnings in the range of $2.25 to $2.35 per share.

Xcel shares have increased 10 percent since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 7 percent. The stock has climbed 14 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on XEL at https://www.zacks.com/ap/XEL

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Keywords: Xcel Energy, Earnings Report