Xcel Energy Inc Earnings Cheat Sheet: Profit Rises Again

S&P 500 (NYSE:SPY) component Xcel Energy Inc (NYSE:XEL) reported its results for the second quarter. Xcel Energy, Inc. is a holding company that is engaged in the generation, purchase, transmission, distribution and sale of electricity and natural gas.

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Xcel Energy Inc Earnings Cheat Sheet for the Second Quarter

Results: Net income for the electric utilities company rose to $158.8 million (33 cents per share) vs. $139.8 million (30 cents per share) in the same quarter a year earlier. This marks a rise of 13.6% from the year earlier quarter.

Revenue: Rose 5.7% to $2.44 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: XEL beat the mean analyst estimate of 32 cents per share. It beat the average revenue estimate of $2.37 billion.

Quoting Management: “I am pleased to report solid financial performance in the second quarter,” said Richard C. Kelly, chairman and chief executive officer. “In addition, we continue to make progress on executing our strategic plan as evidenced by receiving approval to extend our Prairie Island nuclear power plant operating license for an additional 20 years, conditional approval of our Brookings, S.D. to Hampton, Minn. transmission line and the recently passed Minnesota legislation allowing multi-year rate plans. Our year-to-date financial results remain on track and position us to deliver 2011 ongoing earnings in the range of $1.65 to $1.75 per share.”

Key Stats:

The company beat estimates last quarter after being in line with expectations in the first quarter with net income of 42 cents per share.

Net income has increased 15.4% year over year on average across the last five quarters. The biggest gain came in the third quarter of the last fiscal year, when income climbed 41.4% from the year earlier quarter.

The company’s revenue has now risen for two straight quarters. In the first quarter, revenue increased 0.3% to $2.82 billion from the year earlier quarter.

Competitors to Watch: Integrys Energy Group, Inc. (NYSE:TEG), ALLETE, Inc. (NYSE:ALE), Alliant Energy Corporation (NYSE:LNT), PNM Resources, Inc. (NYSE:PNM), Black Hills Corporation (NYSE:BKH), Wisconsin Energy Corp. (NYSE:WEC), MGE Energy, Inc. (NASDAQ:MGEE), El Paso Electric Company (NYSE:EE), CMS Energy Corporation (NYSE:CMS), and Duke Energy Corporation (NYSE:DUK).

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(Source: Xignite Financials)

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