Xcel Energy Narrows 2019 Earnings Guidance To Upper Half Of Prior Range

(RTTNews) - Xcel Energy Inc. (XEL) narrowed its 2019 earnings guidance to $2.60 to $2.65 per share from $2.55 to $2.65 per share. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.62. Analysts' estimates typically exclude special items.

Xcel Energy's 2020 ongoing earnings guidance is a range of $2.73 to $2.83 per share. Analysts expect the company to report profit per share of $2.79.

For the long-term, the company targets to deliver annual earnings per share growth of 5 percent to 7 percent off of a 2019 base of $2.60 per share, which represents the mid-point of the original 2019 guidance range. Also, the company expects to deliver annual dividend increases of 5 percent to 7 percent over the long-term.

For the third-quarter, ongoing earnings was $1.01 per share, compared to $0.96, prior year. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $1.03, for the quarter. Analysts' estimates typically exclude special items. The company said its third-quarter earnings reflect higher electric margins primarily due to non-fuel riders and regulatory rate outcomes and lower O&M expenses, partially offset by lower AFUDC, increased depreciation and interest expenses.

Third-quarter total operating revenues declined to $3.01 billion from $3.05 billion, prior year. Analysts expected revenue of $3.47 billion, for the quarter.