Xcel Energy Inc Profit Rises In Q1, Beats Estimates - Update

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Xcel Energy Inc (XEL) announced earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $380 million, or $0.70 per share. This compares with $362 million, or $0.67 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.68 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.9% to $3.75 billion from $3.54 billion last year.

Looking ahead, Xcel Energy provided 2022 earnings guidance in the range of $3.10 to
$3.20 per share. Analysts on average estimate the company to report earnings of $3.17 a share.

Xcel Energy Inc earnings at a glance (GAAP) :

-Earnings (Q1): $380 Mln. vs. $362 Mln. last year.
-EPS (Q1): $0.70 vs. $0.67 last year.
-Analyst Estimate: $0.68
-Revenue (Q1): $3.75 Bln vs. $3.54 Bln last year.

Full year EPS guidance: $3.10 to $3.20

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