Xcel Energy's profit jumps nearly 18 percent in third-quarter

Reduced operating expenses over the summer months helped boost Xcel Energy Inc.'s third-quarter earnings, Dow Jones News reports. The Minneapolis-based utility earned $398 million, up nearly 18 percent from $338.3 million a year earlier.

Author:: BMTN Staff
Publish date:: Oct 25, 2012

Reduced operating expenses over the summer months helped boost Xcel Energy Inc.'s third-quarter earnings, Dow Jones News reports. The Minneapolis-based utility earned $398 million, up nearly 18 percent from $338.3 million a year earlier.

"We had a slow start to the year with unfavorable sales, mild winter weather and certain adverse regulatory decisions," Xcel CEO Ben Fowke said in a news release. "We responded by implementing cost control measures to partially offset the impact of these early headwinds and to position the company to deliver earnings in the lower half of our guidance range."

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