In This Article:
Xcel Energy Inc. (NASDAQ:XEL) shares are trading lower on Thursday after the company reported fourth-quarter FY24 results.
The company reported revenue of $3.12 billion, which missed the consensus of $3.77 billion.
Adjusted EPS of 81 cents missed the consensus of 87 cents.
For 2024, Xcel Energy reported ongoing earnings per share of $3.50 vs. $3.35 in 2023. This reflects higher recovery of infrastructure investments, partially offset by increased depreciation, interest charges and O&M expenses.
Bob Frenzel, chairman, president and CEO of Xcel Energy, said, “In 2024, we delivered on our earnings guidance for the 20th year in a row – one of the best track records in the industry – against a very difficult backdrop of challenges throughout the year.”
”We significantly increased our investments in the infrastructure and technology that serves to protect and enhance the electrical systems for the benefit of our customers and communities.”
Outlook: Xcel Energy reiterated FY25 adjusted EPS of $3.75 – $3.85 compared to the consensus estimate of $3.82.
“As we look forward into 2025, we are executing on our plans to build the energy grid that is needed to meet the unprecedented increases in demand from our customers, protect against extreme weather, and deliver a compelling customer experience,” Frenzel added.
Investors can gain exposure to the stock via Virtus Reaves Utilities ETF (NYSE:UTES) and Global X U.S. Electrification ETF (NASDAQ:ZAP).
Price Action: XEL shares are down 1.91% at $66.66 at the last check Thursday.
Read Next:
Image via Shutterstock.
Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market.
Get the latest stock analysis from Benzinga?
This article Xcel Energy Misses Q4 Estimates, Reaffirms FY25 EPS Guidance, Focuses On Grid Modernization originally appeared on Benzinga.com
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.