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| 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.