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Xcel Energy posts YOY drop in Q2 earnings, misses estimates

Xcel Energy Inc. on Aug. 1 posted GAAP and ongoing earnings of $238.0 million, or 46 cents per share, in the 2019 second quarter, down from $265.0 million, or 52 cents per share, in the prior-year period.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 53 cents.

Operating revenues were $2.58 billion, down from $2.66 billion a year earlier. Xcel Energy also reported operating income of $410.0 million, down from $450.0 million in the prior-year quarter.

The utility continues to target full-year 2019 GAAP and ongoing earnings in the range of $2.55 per share to $2.65 per share.