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XEL Nasdaq· Xcel Energy, Inc
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XEL Nasdaq· Xcel Energy, Inc
Earnings report Q4 2023

XEL Reports Solid Revenue Growth in Latest Quarter

Segments of Revenue

XEL Energy Inc. reported total operating revenues of $14.21 billion for the latest quarter. The breakdown of revenue by segment is as follows:

  • Electric: $11.45 billion
  • Natural gas: $2.65 billion
  • Other: $115 million

Strengths

XEL Energy demonstrated strong revenue growth in the latest quarter, with total operating revenues increasing by 5.9% compared to the same period last year. The electric segment remained the primary revenue driver, accounting for 80.6% of total operating revenues. This growth can be attributed to increased demand for electricity, driven by factors such as population growth and economic expansion. XEL Energy's successful strategy execution and disciplined approach to growth have positioned the company to deliver a competitive total shareholder return.

Challenges

While XEL Energy reported solid revenue growth, it faced certain challenges in the latest quarter. Operating expenses increased by 3.9% compared to the same period last year, primarily driven by higher electric fuel and purchased power costs. Additionally, the cost of natural gas sold and transported also increased, impacting the natural gas segment's profitability. These cost pressures may pose challenges to maintaining profit margins in the future.

Noteworthy

XEL Energy has been actively leading the clean energy transition for over 20 years. The company has managed the risk of climate change and met the increasing demand for cleaner energy. This commitment to sustainability and environmental responsibility positions XEL Energy favorably in the evolving energy landscape.

Summary

XEL Energy reported solid revenue growth in the latest quarter, driven by increased demand for electricity. The electric segment remained the primary revenue driver, contributing 80.6% of total operating revenues. Despite facing challenges such as higher operating expenses, XEL Energy's successful strategy execution and commitment to clean energy transition position the company well for future growth.

Source documents

Form 10-K  filed on Feb 21, 2024
128 pages scanned

Reference data

Company financials Q4 revenue 3.44B
Analyst estimates Q4 EPS missed by -0.41%
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