Press release
Xcel Energy Second Quarter 2023 Earnings Report
Second quarter GAAP diluted earnings per share were $0.52 in 2023 compared with $0.60 in 2022. Xcel Energy reaffirms 2023 EPS guidance of $3.30 to $3.40.
About this update from Xcel Energy Inc.
[{"type":"text","content":"\n\nSecond quarter GAAP diluted earnings per share were $0.52 in 2023 compared with $0.60 in 2022.\n\n\n\nXcel Energy reaffirms 2023 EPS guidance of $3.30 to $3.40.\n\n\n\n MINNEAPOLIS--(BUSINESS WIRE)--\nXcel Energy Inc. (NASDAQ: XEL) today reported 2023 second quarter GAAP and ongoing earnings of $288 million, or $0.52 per share, compared with $328 million, or $0.60 per share in the same period in 2022.\n\n\nEarnings reflect the impact of unfavorable weather, higher operating and maintenance (O&M) expenses and interest charges, without expected increases in regulatory recovery to offset these drivers including the outcome of the Minnesota Electric Rate Case.\n\n\n“While second quarter earnings were lower than last year due to unfavorable weather and other drivers, we are taking actions to offset the impacts and are reaffirming our 2023 earnings guidance,” said Bob Frenzel, chairman, president and CEO of Xcel Energy.\n\n\n“While we move forward with these actions, I’m proud of the progress we continue to make in leading the nation’s clean energy transition,” Frenzel said. “As we reported in our annual Corporate Sustainability Report, more than half of the electricity we provide to our customers comes from carbon-free resources. This quarter, we also broke ground on the Sherco solar project and the Colorado Power Pathway transmission project, which is already spurring unprecedented opportunities for new renewable energy and economic development on the Colorado Eastern Plains.”\n\n\nAt 9:00 a.m. CDT today, Xcel Energy will host a conference call to review financial results. To participate in the call, please dial in 5 to 10 minutes prior to the start and follow the operator’s instructions.\n\n\n\n\nUS Dial-In:\n\n\n\n\n\n\n(866) 580-3963\n\n\n\n\n\n\n\n\nInternational Dial-In:\n\n\n\n\n\n\n(400) 120-0558\n\n\n\n\n\n\n\n\nConference ID:\n\n\n\n\n\n\n6716399\n\n\n\n\n\n\n\nThe conference call also will be simultaneously broadcast and archived on Xcel Energy’s website at www.xcelenergy.com. To access the presentation, click on Investors under Company. If you are unable to participate in the live event, the call will be available for replay from July 27th through July 31st.\n\n\n\n\nReplay Numbers\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nUS Dial-In:\n\n\n\n\n\n\n1 (866) 583-1035\n\n\n\n\n\n\n\n\nAccess Code:\n\n\n\n\n\n\n6716199#\n\n\n\n\n\n\...