Welcome to our dedicated page for Xcel Energy news (Ticker: XEL), a resource for investors and traders seeking the latest updates and insights on Xcel Energy stock.
Xcel Energy Inc. reports developments for a regulated electric and natural gas utility serving customers across eight Western and Midwestern states. News commonly covers GAAP and ongoing earnings, dividend declarations, recovery of infrastructure investments, electric sales trends, operating expenses and financing-related updates.
The company’s recurring updates also address clean-energy and grid projects, large-load customer service, generation and transmission planning, and technology and security modernization. Xcel Energy operates through regulated utility companies that include Northern States Power, Public Service Company of Colorado and Southwestern Public Service Company, with business activity tied to electricity delivery, natural gas service, renewable energy resources and state utility regulation.
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Xcel Energy reported a first quarter 2023 GAAP diluted earnings per share of $0.76, an increase from $0.70 in 2022. The company reassured its 2023 EPS guidance range of $3.30 to $3.40. Overall earnings reached $418 million, a boost from $380 million year-over-year. The results were aided by recovery in electric and natural gas infrastructure investment, although higher depreciation and operating expenses weighed on performance. CEO Bob Frenzel highlighted ongoing efforts in the clean energy transition, including evaluating renewable projects and applying for Department of Energy grants for hydrogen hubs. Xcel also reduced the natural gas recovery charge in Colorado by 58% to alleviate customer costs amidst fluctuating natural gas prices.
Xcel Energy (NASDAQ: XEL) will hold a conference call on April 27, 2023, at 9:00 a.m. Central Time to discuss its first quarter 2023 financial results. The earnings report will be released before the market opens on the same day. Participants can join by dialing 1-866-580-3963 in the US or 400-120-0558 internationally and must enter the conference password 5018521. The call will also be available via webcast and archived on the company's website. For replay, call 1-866-583-1035 until May 1, using the same password. Xcel Energy is a leader in providing clean energy solutions across eight states, with a focus on reducing carbon emissions.
The Board of Directors of Xcel Energy (NASDAQ: XEL) has announced a quarterly dividend increase from 48.75 cents to 52 cents per share, marking an annual rate of $2.08. This dividend will be paid on April 20, 2023, to shareholders recorded as of March 15, 2023. Since 2015, Xcel has aimed for annual dividend growth of 5-7%, achieving an average increase of over 6%. CEO Bob Frenzel expressed confidence in the company's investment opportunities and commitment to delivering attractive returns to shareholders.