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MINNEAPOLIS - Xcel Energy Inc. (NASDAQ:XEL) reported fourth quarter earnings that fell short of analyst expectations, while reaffirming its outlook for 2025.
Xcel Energy posted adjusted earnings per share (EPS) of $0.81 for the fourth quarter, missing the analyst consensus of $0.89 by $0.08. Revenue for the quarter came in at $3.12 billion, significantly below the consensus estimate of $3.77 billion.
Despite the quarterly miss, the company reported full-year 2024 adjusted EPS of $3.50, up from $3.35 in 2023. This marks the 20th consecutive year Xcel Energy has met its earnings guidance, a feat highlighted by Bob Frenzel, chairman, president and CEO of Xcel Energy.
"In 2024, we delivered on our earnings guidance for the 20th year in a row - one of the best track records in the industry - against a very difficult backdrop of challenges throughout the year," Frenzel stated.
The company attributed the YoY earnings growth to increased recovery of infrastructure investments, partially offset by higher depreciation, interest charges, and operating and maintenance expenses.
Looking ahead, Xcel Energy reaffirmed its 2025 EPS guidance range of $3.75 to $3.85. The midpoint of this range, $3.80, aligns closely with the current analyst consensus of $3.82.
Frenzel expressed optimism about the company’s future plans, stating, "We are executing on our plans to build the energy grid that is needed to meet the unprecedented increases in demand from our customers, protect against extreme weather, and deliver a compelling customer experience."
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