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Xcel Energy Bottom Line Advances In Q2, But Misses Estimates; Backs 2022 Outlook - Update

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Xcel Energy Inc (XEL) announced a profit for its second quarter that increased from last year but missed the Street estimates.

The company's earnings totaled $328M, or $0.60 per share. This compares with $311M, or $0.58 per share, in last year's second quarter.

Analysts on average had expected the company to earn $0.61 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.4% to $3.42 billion from $3.07 billion last year.

Outlook:

For fiscal 2022, the company reiterated its earnings guidance of $3.10 to $3.20 a share.

Analysts, on average, are expecting the company to report earnings of $3.17 per share.

Xcel Energy Inc earnings at a glance (GAAP) :

-Earnings (Q2): $328M. vs. $311M. last year.
-EPS (Q2): $0.60 vs. $0.58 last year.
-Analyst Estimate: $0.61
-Revenue (Q2): $3.42 Bln vs. $3.07 Bln last year.

-Guidance:
Full year EPS guidance: $3.10 to $3.20

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