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. (symbol: XEL) is a leading electric and natural gas energy provider, serving 3.8 million electricity customers and 2.1 million natural gas customers across eight states: Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin. The company offers a comprehensive portfolio of energy-related products and services tailored to meet the diverse needs of its customer base.
Xcel Energy's operations are supported by a dedicated workforce of over 12,000 employees, who are committed to ensuring safe, reliable, and affordable energy delivery. The company is navigating the dynamic and ever-evolving utility industry by focusing on customer-centric approaches, forward-thinking strategies, and productivity enhancements.
One of Xcel Energy’s significant commitments is to renewable energy. As one of the largest renewable energy owners and suppliers in the United States, more than half of the company's electricity sales come from carbon-free energy sources. This positions Xcel Energy as a key player in the transition to cleaner energy, with substantial investments in wind, solar, and other renewable technologies.
Xcel Energy operates through several subsidiaries, including Northern States Power, which serves customers in Minnesota, North Dakota, South Dakota, Wisconsin, and Michigan; Public Service Company of Colorado; and Southwestern Public Service Company, which caters to customers in Texas and New Mexico. These subsidiaries ensure localized service and management, catering to the unique needs of each region.
In terms of financial health, Xcel Energy maintains a robust financial condition, with ongoing projects aimed at modernizing the grid and enhancing energy efficiency. The company has also established partnerships with various stakeholders to drive innovation and sustainability in its operations.
Looking ahead, Xcel Energy faces a considerable workforce transition, with nearly 50% of its current employees eligible for retirement in the next five years. This presents both a challenge and an opportunity for new talent to join the company, particularly those passionate about renewable energy and community engagement. New employees have the chance to directly influence the company’s energy future.
Xcel Energy remains steadfast in its mission to deliver safe, reliable, and sustainable energy. Through continuous improvement and a commitment to innovation, the company is well-positioned to meet the evolving energy needs of its customers and contribute to a cleaner energy landscape.
Xcel Energy has signed a 20-year agreement with Anterix for the use of its 900 MHz spectrum across eight states, enhancing its grid modernization efforts for 3.7 million electricity and 2.1 million natural gas customers. The collaboration supports a private LTE network aimed at improving energy delivery and reliability. Xcel, now part of the Utility Strategic Advisory Board, will also assist with technology trials and participate in the Anterix Active Ecosystem. This move positions Xcel Energy as a key player in the utility broadband sector.
Xcel Energy reported a strong third quarter in 2022 with GAAP diluted earnings per share of $1.18, up from $1.13 in 2021. Year-to-date EPS increased to $2.48 from $2.38 the previous year.
The company narrowed its 2022 EPS guidance to $3.14 to $3.19 and initiated 2023 guidance at $3.30 to $3.40. These results reflect benefits from capital investments and regulatory outcomes, despite increased operational costs. Additionally, the Inflation Reduction Act is expected to significantly lower costs for upcoming renewable projects.
Xcel Energy (NASDAQ: XEL) will hold a conference call on October 27, 2022, at 9:00 a.m. Central Time to discuss its third quarter financial results. Earnings will be released before market opening. Participants are asked to dial in at least 5 minutes ahead. The call will be accessible via US dial-in at 866-580-3963 and international at 400-120-0558, with a conference password of 0230649. A replay will be available from October 27 through October 31.
Bloom Energy (NYSE: BE) announced plans to install an electrolyzer at Xcel Energy's (NASDAQ: XEL) Prairie Island Nuclear Generating Plant in Minnesota. This initiative aims to enhance clean hydrogen production efficiency by utilizing nuclear infrastructure, promising a reduction in hydrogen production costs and support for the growing hydrogen economy. The 240 kW electrolyzer, based on Bloom's solid oxide platform, is expected to begin construction in late 2023 with power-on anticipated in early 2024, potentially transforming the dynamics of zero-carbon energy production.
Xcel Energy (NASDAQ: XEL) partners with Ambri to utilize its Liquid Metal™ battery technology at Solar Technology Acceleration Center in Aurora, Colorado. This initiative aims to bolster Xcel's commitment to a carbon-free future and enhance its renewable energy capabilities. With an objective to reduce carbon emissions by 80% by 2030 and achieve net-zero energy by 2050, this collaboration supports Xcel's strategic goals and further cements its leadership in clean energy solutions.
The Board of Directors of Xcel Energy (NASDAQ: XEL) announced a quarterly dividend of 48.75 cents per share, payable on October 20, 2022, to shareholders on record by September 15, 2022.
Xcel Energy operates across 8 states, serving 3.7 million electricity and 2.1 million natural gas customers. The company is headquartered in Minneapolis. For further details, visit www.xcelenergy.com.
Xcel Energy has unveiled its ambitious transportation vision aimed at transitioning all vehicles in its service area to carbon-free electricity by 2050. This plan builds on its 2030 goal to have 20% of vehicles electric, ultimately supporting the company's aim of becoming a net-zero energy provider. Significant benefits include an estimated $1 billion savings for customers on fuel by 2030 and improved air quality. The initiative includes expanding electric vehicle charging infrastructure, particularly in Minnesota and Wisconsin, adding about 750 high-speed charging stations.
Xcel Energy reported second quarter 2022 GAAP diluted earnings per share of $0.60, up from $0.58 in 2021, with ongoing earnings totaling $328 million. The company reaffirms its 2022 EPS guidance of $3.10 to $3.20. This growth is attributed to capital investment recovery and regulatory outcomes, despite higher depreciation and operating expenses. A significant milestone includes the approval of the Colorado Electric Resource Plan, aiming for an 85% reduction in carbon emissions by 2030 and transitioning to 80% renewable energy sources by then.
Xcel Energy (NASDAQ: XEL) will hold a conference call on July 28, 2022, at 9:00 a.m. Central Time to discuss its second quarter financial results. The earnings report will precede the call, which attendees can join by dialing 800-289-0720 (US) or 400-613-7957 (International). The call will also be broadcast online and archived on Xcel's website. Replay will be available post-event until July 31, 2022. Xcel Energy is known for its renewable energy initiatives across eight states.
Xcel Energy Inc. (NASDAQ: XEL) has appointed Megan Burkhart to its board of directors, effective immediately. With extensive experience in human resources and diversity, equity, and inclusion, she currently serves as the executive vice president and chief human resources officer at Comerica. Burkhart has a solid track record of enhancing executive compensation programs and DE&I efforts. Her leadership is expected to strengthen Xcel Energy’s commitment to effective governance, particularly in evolving areas like compensation and ESG.
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