Press release
Xcel Energy Third Quarter 2021 Earnings Report
Third quarter GAAP diluted earnings per share were $1.13 in 2021 compared with $1.14 in 2020. Year-to-date GAAP diluted earnings per share for 2021 were
About this update from Xcel Energy Inc.
[{"type":"text","content":"\n\nThird quarter GAAP diluted earnings per share were $1.13 in 2021 compared with $1.14 in 2020.\n\n\nYear-to-date GAAP diluted earnings per share for 2021 were $2.38 compared with $2.25 in 2020.\n\n\nXcel Energy narrows its 2021 EPS earnings guidance range to $2.94 to $2.98 from $2.90 to $3.00.\n\n\nXcel Energy initiates 2022 EPS earnings guidance of $3.10 to $3.20.\n\n\n MINNEAPOLIS--(BUSINESS WIRE)--\nXcel Energy Inc. (NASDAQ: XEL) today reported 2021 third quarter GAAP and ongoing earnings of $609 million, or $1.13 per share, compared with $603 million, or $1.14 per share in the same period in 2020.\n\nEarnings reflect higher electric and natural gas margins and lower operating and maintenance (O&M) expenses, which were offset by additional depreciation and lower allowance for funds used during construction (AFUDC).\n\n“Xcel Energy posted strong year-to-date results, so we’re narrowing our 2021 earnings guidance to $2.94 to $2.98 per share. We are also issuing an updated capital forecast of $26 billion for 2022 to 2026, which will provide significant benefits to our customers, help us to achieve our goal of an 80% reduction in CO2 emissions from 2005 levels by 2030 and a carbon free electric system by 2050, and drive rate base growth of 6.5%. In addition, we are initiating 2022 earnings guidance of $3.10 to $3.20 per share, which is consistent with our long-term growth objective,” said Bob Frenzel, president and CEO of Xcel Energy.\n\n“I’m also pleased the company is delivering on our vision to power 1.5 million electric vehicles by 2030. We just unveiled a suite of EV charging programs for our customers in Colorado that will make it easier, faster and more affordable for customers to charge their EVs, including those living in multifamily buildings. That program is one of the reasons that we were proud to have President Biden recognize Xcel Energy’s clean energy leadership during his visit to the National Renewable Energy Laboratory last month.”\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\nUS Dial-In:\n\n\n\n\n\n\n(888) 204-4368\n\n\n\n\n\nInternational Dial-In:\n\n\n\n\n\n\n(400) 120-9101\n\n\n\n\n\nConference ID:\n\n\n\n\n\n\n5692678\n\n\n\n\nThe c...