Xcel Energy Posts Mixed Q3 On Lower Electric Revenue, Narrows FY23 Outlook & More
Portfolio Pulse from Lekha Gupta
Xcel Energy Inc reported Q3 FY23 revenue of $3.662 billion, missing the consensus of $3.983 billion. Electric revenue and operating income both fell compared to a year ago. However, adjusted EPS of $1.23 beat the consensus of $1.18. The company also announced a plan for a large clean energy transition effort in Colorado. The company narrowed its adjusted EPS outlook for 2023 and provided an inline outlook for FY24. XEL shares are trading lower by 1.29% premarket.
October 27, 2023 | 3:16 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Xcel Energy's Q3 revenue missed expectations, but EPS beat consensus. The company announced a large clean energy transition plan and adjusted its EPS outlook. Shares are down premarket.
Xcel Energy's lower than expected Q3 revenue and the downward adjustment of its EPS outlook for 2023 could negatively impact investor sentiment, leading to a potential short-term decrease in the stock price. However, the EPS beat and the announcement of a large clean energy transition plan could be seen as positive in the longer term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100