XCEL ENERGY INC Quarterly Report for Q1 Ended Mar 31, 2019

Summary

Xcel Energy Inc. reported solid financial results for the first quarter of 2019, demonstrating growth in both electric and natural gas segments. Operating revenues increased to $3.14 billion, up from $2.95 billion in the same period last year, driven by higher electric and natural gas margins. Net income rose to $315 million, or $0.61 per diluted share, compared to $291 million, or $0.57 per diluted share, in the first quarter of 2018. This improvement reflects favorable regulatory rate outcomes, beneficial weather conditions, and increased sales, partially offset by higher operating and maintenance expenses, depreciation, and interest charges. The company's balance sheet remains robust, with total assets growing to $47.85 billion. Xcel Energy also made significant capital investments, amounting to $844 million, primarily focused on utility construction expenditures. The company reaffirmed its 2019 earnings guidance and long-term EPS growth objectives, signaling confidence in its continued operational performance and strategic initiatives.

Key Highlights

• 1Total operating revenues increased by 6.4% year-over-year to $3.14 billion.
• 2Net income grew to $315 million, an increase of 8.2% from the prior year's first quarter.
• 3Diluted Earnings Per Share (EPS) rose to $0.61 from $0.57 in the first quarter of 2018.
• 4Electric margin increased by 5.4% to $1.41 billion, driven by regulatory rate outcomes and weather.
• 5Natural gas margin saw a 9.8% increase, reaching $315 million, supported by rate increases and weather normalization.
• 6Utility capital expenditures for the quarter totaled $844 million, reflecting ongoing investment in infrastructure.
• 7The company reaffirmed its 2019 GAAP and ongoing earnings guidance range of $2.55 to $2.65 per share.

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