Press release
Xcel Energy Third Quarter 2022 Earnings Report
Third quarter GAAP diluted earnings per share were $1.18 in 2022 compared with $1.13 in 2021. Year-to-date GAAP diluted earnings per share for 2022 were
About this update from Xcel Energy Inc.
[{"type":"text","content":"\n\nThird quarter GAAP diluted earnings per share were $1.18 in 2022 compared with $1.13 in 2021.\n\n\nYear-to-date GAAP diluted earnings per share for 2022 were $2.48 compared with $2.38 in 2021.\n\n\nXcel Energy narrows its 2022 EPS guidance range to $3.14 to $3.19 from $3.10 to $3.20.\n\n\nXcel Energy initiates 2023 EPS guidance of $3.30 to $3.40.\n\n\n MINNEAPOLIS--(BUSINESS WIRE)--\nXcel Energy Inc. (NASDAQ: XEL) today reported 2022 third quarter GAAP and ongoing earnings of $649 million, or $1.18 per share, compared with $609 million, or $1.13 per share in the same period in 2021.\n\nEarnings reflect capital investment recovery and other regulatory outcomes, partially offset by higher depreciation, interest expense and operating and maintenance (O&M) expenses.\n\n“Xcel Energy had a strong third quarter – both operationally and financially – which has allowed us to narrow our 2022 earnings guidance to $3.14 to $3.19 per share,” said Bob Frenzel, chairman, president and CEO of Xcel Energy.\n\n“This quarter also saw the passage of the groundbreaking Inflation Reduction Act, whose clean energy provisions will provide significant customer benefit, reduce the cost of the clean energy transition and improve our liquidity through tax credit transferability. As a result of the legislation, the cost of our recently approved 460-MW Sherco Solar project will be reduced by more than 30%. It will also lower the cost of 10,000 MWs of renewables that were approved as part of our Minnesota and Colorado resource plans and further enhance Xcel Energy’s and the region’s competitive advantage due to strong wind and solar resources in our states.”\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(866) 580-3963\n\n\n\n\n\nInternational Dial-In:\n\n\n\n\n(400) 120-0558\n\n\n\n\n\nConference ID:\n\n\n\n\n0230649\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 12:00 p.m. CDT on Oct. 27 through 12:00 p.m. CDT on Oct. 31.\n\n\n\...