financetom
Business
financetom
/
Business
/
Xcel Energy posts higher quarterly profit on increased electricity rates
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Xcel Energy posts higher quarterly profit on increased electricity rates
Feb 6, 2025 4:55 AM

Feb 6 (Reuters) - Xcel Energy ( XEL ) reported an

increase in fourth-quarter profit on Thursday, as the utility

firm benefited from higher electricity rates and lower operating

expenses.

The company reported a rise in earnings in Minnesota and

Colorado regions, on higher recovery of electric and natural gas

infrastructure investments.

Regulated utilities use rate case proceedings to seek a rate

increase based on their investments or expenses to provide

services.

The Minneapolis, Minnesota-based company also benefited from

lower quarterly operating expenses, which were down 3.3% at

$2.77 billion from a year earlier.

The utility firm's net income was up 13.4% at $464 million

for the quarter ended Dec. 31.

Xcel Energy ( XEL ) serves a total of 3.7 million electricity

customers and 2.1 million natural gas customers across eight

states of Colorado, Michigan, Minnesota, New Mexico, North

Dakota, South Dakota, Texas and Wisconsin.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Willis Lease Finance's Unit Signs Maintenance Service Agreement With TUI Airways
Willis Lease Finance's Unit Signs Maintenance Service Agreement With TUI Airways
Jan 27, 2025
04:00 PM EST, 01/27/2025 (MT Newswires) -- Willis Lease Finance ( WLFC ) said Monday its Willis Aviation Services unit has signed a long-term maintenance service agreement with TUI Airways. Willis Aviation Services will provide base maintenance services for TUI Airways' narrowbody fleet at its Teesside International Airport facility in northeastern England, starting with two Boeing 737NG checks, the company...
Southern California Edison shares new details on transmission lines in Eaton amid wildfire probe
Southern California Edison shares new details on transmission lines in Eaton amid wildfire probe
Jan 27, 2025
Jan 27 (Reuters) - Southern California Edison, a unit of utility Edison International ( EIX ), said on Monday preliminary analysis of data showed a momentary and expected increase in current on its energized lines in the Eaton Canyon corridor on Jan. 7 evening. Fire officials have not found SCE to be responsible for the Los Angeles fires. But the...
Te Connectivity Insider Sold Shares Worth $587,706, According to a Recent SEC Filing
Te Connectivity Insider Sold Shares Worth $587,706, According to a Recent SEC Filing
Jan 27, 2025
04:10 PM EST, 01/27/2025 (MT Newswires) -- Shadrak W Kroeger, President, Industrial Solutions, on January 27, 2025, sold 3,889 shares in Te Connectivity ( TEL ) for $587,706. Following the Form 4 filing with the SEC, Kroeger has control over a total of 25,976 shares of the company, with 25,976 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1385157/000122520825000880/xslF345X05/doc4.xml ...
Lamb Weston shareholders unhappy with management, Jana says, hinting at proxy fight
Lamb Weston shareholders unhappy with management, Jana says, hinting at proxy fight
Jan 27, 2025
NEW YORK, Jan 27 (Reuters) - Lamb Weston ( LW ) shareholders love the French fry maker's products but are unhappy with management, activist investor Jana Partners told the company's board on Monday, signaling that it may launch a board fight later this year. The investment firm, which owns more than 5% of the roughly $9 billion company, polled Lamb...
Copyright 2023-2025 - www.financetom.com All Rights Reserved