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Xcel Energy books higher earnings, lower revenues in Q3

Xcel Energy Inc. on Oct. 24 announced GAAP and ongoing earnings of $527.0 million, or $1.01 per share, in the 2019 third quarter, up from $491.0 million, or 96 cents per share, in the year-ago period.

The S&P Global Market Intelligence consensus normalized earnings estimate for the quarter was $1.03 per share.

Operating revenues were $3.01 billion, a drop from $3.05 billion in the 2018 third quarter. The utility also reported operating income of $758.0 million, improving from $696.0 million a year earlier.

Looking ahead, Xcel Energy narrowed its full-year 2019 earnings guidance to a range of $2.60 per share to $2.65 per share from $2.55 per share to $2.65 per share. The company also initiated its 2020 EPS guidance range of $2.73 to $2.83.