The 10-second takeaway
For the quarter ended June 30 (Q2), Xcel Energy missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share expanded significantly.
Margins grew across the board.
Xcel Energy chalked up revenue of $2.27 billion. The four analysts polled by S&P Capital IQ predicted revenue of $2.47 billion on the same basis. GAAP reported sales were 6.7% lower than the prior-year quarter's $2.44 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.38. The 13 earnings estimates compiled by S&P Capital IQ predicted $0.36 per share. GAAP EPS of $0.38 for Q2 were 15% higher than the prior-year quarter's $0.33 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 34.8%, 420 basis points better than the prior-year quarter. Operating margin was 17.8%, 310 basis points better than the prior-year quarter. Net margin was 8.0%, 150 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $2.72 billion. On the bottom line, the average EPS estimate is $0.72.
Next year's average estimate for revenue is $10.76 billion. The average EPS estimate is $1.77.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Xcel Energy is hold, with an average price target of $28.31.
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