Xcel Energy Third Quarter 2024 Earnings: Misses Expectations

Xcel Energy (NASDAQ:XEL) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$3.64b (flat on 3Q 2023).
• Net income: US$682.0m (up 4.0% from 3Q 2023).
• Profit margin: 19% (in line with 3Q 2023).
• EPS: US$1.21 (up from US$1.19 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Xcel Energy Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 7.2%. Earnings per share (EPS) also missed analyst estimates by 4.6%.

Looking ahead, revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Electric Utilities industry in the US.

Performance of the American Electric Utilities industry.

The company's shares are up 3.6% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Xcel Energy (1 is concerning!) that you should be aware of.

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