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Xcel Energy Inc (XEL) announced a profit for its first quarter that increased from last year and beat the Street estimates.
The company's earnings totaled $488 million, or $0.88 per share. This compares with $418 million, or $0.76 per share, in last year's first quarter.
Analysts on average had expected the company to earn $0.78 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 10.5% to $3.65 billion from $4.08 billion last year.
Outlook
For fiscal 2024, Xcel Energy's ongoing earnings guidance is in a range of $3.50 to $3.60 per share.
The Street is looking for earnings of $3.57 per share for the year.
In fiscal 2023, Xcel Energy's ongoing earnings were $3.35 per share.
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