10-QPeriod: Q3 FY2009

XCEL ENERGY INC Quarterly Report for Q3 Ended Sep 30, 2009

Filed October 30, 2009For Securities:XELXELLL

Summary

Xcel Energy Inc.'s third quarter 2009 Form 10-Q filing reveals a mixed financial performance, with total operating revenues declining to $2.31 billion from $2.85 billion in the prior year's third quarter, primarily due to lower electric and natural gas revenues. Despite this top-line decrease, operating income saw a modest increase to $465.1 million from $448.0 million, driven by effective cost management, particularly in fuel and purchased power. Net income remained stable at $220.8 million compared to $222.8 million in the same period last year, with diluted earnings per share at $0.48, slightly down from $0.51. For the nine-month period ending September 30, 2009, operating revenues decreased to $7.03 billion from $8.50 billion year-over-year. However, operating income improved significantly to $1.11 billion from $1.04 billion, and net income rose to $512.0 million from $481.5 million. This performance reflects the company's ability to manage expenses, particularly lower fuel and purchased power costs, and the positive impact of recent rate increases across its various operating jurisdictions. The company continues to invest in its infrastructure, with utility capital expenditures remaining substantial.

Financial Highlights

38 data points
Beta

Revenue

$2.31B

Net Income

$219.77M

9.5% Net Margin

EPS (Diluted)

$0.48

Total Assets

$25.08B

Cash & Equivalents

$90.21M

Free Cash Flow

$503.05M

Financial Statements
Beta
Revenue$2.31B
Operating Expenses$1.85B
Operating Income$465.15M
Interest Expense$139.35M
Net Income$219.77M
EPS (Basic)$0.48
EPS (Diluted)$0.48
Shares Outstanding (Basic)456.77M
Shares Outstanding (Diluted)457.45M

Key Highlights

  • 1Total operating revenues for Q3 2009 decreased to $2.31 billion from $2.85 billion in Q3 2008.
  • 2Operating income for Q3 2009 increased to $465.1 million from $448.0 million in Q3 2008.
  • 3Net income for Q3 2009 was $220.8 million, a slight decrease from $222.8 million in Q3 2008.
  • 4Diluted earnings per share for Q3 2009 were $0.48, down from $0.51 in Q3 2008.
  • 5For the nine months ended Sept. 30, 2009, net income increased to $512.0 million from $481.5 million in the prior year.
  • 6Utility capital expenditures for the nine months ended Sept. 30, 2009, were $1.31 billion, down from $1.52 billion in the same period of 2008.
  • 7Xcel Energy's subsidiaries are involved in various regulatory proceedings and legal matters, some of which could materially impact financial position or results of operations.

Frequently Asked Questions

Xcel Energy experienced a decrease in total operating revenues to $2.31 billion from $2.85 billion in the third quarter of 2009 compared to the prior year. However, operating income saw an increase to $465.1 million from $448.0 million, and net income remained relatively stable at $220.8 million. Diluted earnings per share slightly decreased to $0.48 from $0.51.

For the first nine months of 2009, Xcel Energy reported an increase in net income to $512.0 million, up from $481.5 million in the same period of 2008. This improvement was driven by better cost management, particularly lower fuel and purchased power expenses, and the benefits from rate increases implemented across its service territories.

Xcel Energy continues to invest in its infrastructure. Capital expenditures for utility construction for the nine months ended September 30, 2009, were $1.31 billion, a decrease from $1.52 billion in the prior year, reflecting ongoing investments in projects like the Comanche Unit 3 power facility and renewable energy initiatives, alongside disciplined spending.

Yes, Xcel Energy and its subsidiaries are involved in numerous ongoing legal and regulatory proceedings. These include matters related to environmental regulations, rate cases across various jurisdictions, and ongoing litigation. While the company has accrued for probable costs, the ultimate resolution of some of these matters could materially impact its financial position or results of operations.