Xcel Energy Inc. (XEL) on Thursday announced that net income net income decreased in the first quarter compared to the last year, despite higher revenues. Further, the company maintained fiscal 2025 outlook.
For the first quarter, the energy company's net income declined to $483 million from $488 million last year.
Earnings per share were $0.84 versus $0.88 last year.
Ten Analysts, on average, had expected the company to report earnings of $0.65 per share. Analysts' estimates typically exclude special items.
Operating income also decreased to $677 million from $679 million in the previous year's quarter.
Operating revenue increased to $3.91 million from $3.65 million the previous year. Analysts expected revenue of $3.22 billion for the quarter.
Looking ahead, the company continues to anticipate earnings per share for the full year to range between $3.75 and $3.85.
The company's long-term goals include growing annual earnings per share by 6% to 8% from a base of $3.55, and raising dividends by 4% to 6% each year.
In the pre-market trading, Xcel is 2.43% lesser at $69.81 on the Nasdaq.
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