Xcel Energy Third Quarter 2024 Earnings: Misses Expectations

Xcel Energy Inc. -1.58%

Xcel Energy Inc.

XEL

69.74

-1.58%

Xcel Energy (NASDAQ:XEL) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$3.64b (flat on 3Q 2023).
  • Net income: US$682.0m (up 4.0% from 3Q 2023).
  • Profit margin: 19% (in line with 3Q 2023).
  • EPS: US$1.21 (up from US$1.19 in 3Q 2023).
earnings-and-revenue-growth
NasdaqGS:XEL Earnings and Revenue Growth November 1st 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Xcel Energy Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 7.2%. Earnings per share (EPS) also missed analyst estimates by 4.6%.

Looking ahead, revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Electric Utilities industry in the US.

The company's shares are up 3.6% from a week ago.

Risk Analysis

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