Xcel Energy (XEL) Earnings Fall, Missing Analysts’ Target

Posted by Tate Dwinnell | # |
08:30:27 am on October 23, 2008

Xcel Energy posted its 3rd quarter results today. Although revenue rose to $2.85 billion from $2.4 billion, their 3rd quarter earnings fell 13% to $223 million dollars, or 51 cents a share. That’s a 13% drop from what the company was reporting at this time last year. Analysts had expected Xcel to post earnings of 61 cents a share, so the report was below expectations.

The company stated that its results had been impacted by lower electric margins and and higher depreciation and amortization expenses. The company also advised that the economic crisis may impact its residential sales.

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