Summary
Xcel Energy Inc. reported solid financial results for the nine months ended September 30, 2012, with net income increasing to $765.1 million from $700.7 million in the same period of 2011. Diluted earnings per share (EPS) rose to $1.57 from $1.43. This growth was primarily driven by higher electric and natural gas margins resulting from rate increases implemented across its service territories, improved weather normalization, and effective cost management initiatives. The company continued to invest significantly in its infrastructure, with capital expenditures totaling $1.61 billion for the nine months ended September 30, 2012, primarily for utility capital and construction expenditures. Xcel Energy also strengthened its balance sheet by issuing substantial amounts of long-term debt across its utility subsidiaries, securing favorable interest rates and extending maturities. Despite these investments and debt issuances, the company maintained a strong liquidity position, with significant credit facilities available.
Financial Highlights
46 data points| Revenue | $2.72B |
| Operating Expenses | $2.00B |
| Operating Income | $720.43M |
| Interest Expense | $153.72M |
| Net Income | $398.11M |
| EPS (Basic) | $0.82 |
| EPS (Diluted) | $0.81 |
| Shares Outstanding (Basic) | 488.08M |
| Shares Outstanding (Diluted) | 488.58M |
Key Highlights
- 1Net income increased by 9.2% to $765.1 million for the nine months ended September 30, 2012, compared to $700.7 million in the prior year period.
- 2Diluted EPS grew to $1.57 for the nine months ended September 30, 2012, up from $1.43 in the same period of 2011.
- 3Total operating revenues decreased slightly to $7.58 billion from $8.09 billion for the nine months ended September 30, 2012, mainly due to lower electric and natural gas revenues.
- 4Operating income saw a healthy increase of 4.8% to $1.51 billion for the nine months ended September 30, 2012.
- 5Capital expenditures were substantial at $1.61 billion for the nine months ended September 30, 2012, reflecting ongoing investment in utility infrastructure.
- 6The company successfully issued new long-term debt across its subsidiaries, raising significant capital at favorable interest rates.
- 7Cash provided by operating activities decreased to $1.57 billion for the nine months ended September 30, 2012, primarily due to working capital timing and higher pension contributions.