Xcel Energy Inc Earnings Cheat Sheet: Third Straight Quarter of Rising Profit

S&P 500 (NYSE:SPY) component Xcel Energy Inc (NYSE:XEL) reported net income above Wall Street’s expectations for the third quarter. Xcel Energy 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 Third Quarter

Results: Net income for the electric utilities company rose to $338.3 million (69 cents per share) vs. $312.3 million (67 cents per share) in the same quarter a year earlier. This marks a rise of 8.3% from the year earlier quarter.

Revenue: Rose 7.7% to $2.83 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: XEL beat the mean analyst estimate of 65 cents per share. It fell short of the average revenue estimate of $2.9 billion.

Quoting Management: “I am pleased to report strong third quarter earnings,” said Ben Fowke, Chairman, President and Chief Executive Officer.”As a result of higher sales due to the hot summer, we expect to deliver 2011 ongoing earnings in the upper half of our guidance range of $1.65 to $1.75 per share.In addition, our business plan remains on track, despite continued economic uncertainty and we are initiating 2012 earning guidance of $1.75 to $1.85, which is consistent with our five to seven percent earnings growth objective.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the second quarter, net income rose 13.6% and in the first quarter, the figure rose 21.8%.

Revenue has now gone up for three straight quarters. In the second quarter, revenue rose 5.7% to $2.44 billion while the figure rose 0.3% in the first quarter from the year earlier.

The company has now beaten estimates the last two quarters. In the second quarter, it topped expectations with net income of 33 cents versus a mean estimate of net income of 32 cents per share.

Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the fourth quarter has moved up from 32 cents a share to 33 cents over the last thirty days. For the fiscal year, the average estimate has been unchanged at $1.72 a share.

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).

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Source: Xignite Financials)