Skip to main content

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:
  • Updated:
    Original:

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."

Click here, to follow Xcel Energy's stock performance.

Next Up

bmw-g1a1c50760_1280

Police: Teens 'careen recklessly' in stolen BMW, Mercedes in north metro

They ended up crashing the stolen vehicles, with two arrested and two others on the run.

fire truck

Fire table sparks blaze at Edina home

The fire remains under investigation, but fire officials believe it was accidental.

money hundred dollar bills

Charges: California woman embezzled over $1M from MN employer

Mai Xiong faces several federal charges in the case.

Hsa Law Yaw Say

Shot woman who sparked appeal found injured at Twin Cities hotel

Authorities began searching for Hsa Say early Monday morning.

image

Development may bring changes to Stonebrooke Golf Club in 2023

The popular southwest metro golf course offers scenic views of O'Dowd Lake.

image

Homeowners alert DNR to grouse hunting complaints in Northland

Some hunters are allegedly shooting directly in front of houses.

STPTeensChildTortureRCJ

Charges: Teen couple tortured children while babysitting in St. Paul

A doctor called this "the worst case of abuse he has seen in over 20 years."

Myth

New apartment proposal could spell the end for Myth Live

Myth Live in Maplewood has a spotty past with the surrounding community.

Hsa Law Yaw Say

Police trying to find woman, 18, who was shot at in St. Paul

Police are looking for help finding the woman.

image

Is an Amazon grocery store coming to Woodbury?

There's six rumored stores in the Twin Cities.

ambulance

Man sentenced to life in prison for 2021 murder of girlfriend

Lacy Jo Krube, 36, was found unresponsive at her St. Paul home, after she'd been beaten in Brooklyn Park.

Related

Xcel Energy profits slip nearly 10 percent

The Minneapolis-based utility reports first-quarter earnings of $184 million compared to $204 million in 2011. Xcel says the drop was expected because we had one of the warmest winters on record.

Capella Education's net profit plummets 49 percent in third-quarter

Capella Education, the parent company of the for-profit Capella University, says its third-quarter net income was $5.1 million, down nearly 50 percent compared to the $9.9 million it earned in the July-September quarter last year, the Associated Press reports. Even as total enrollment, revenue and net income fell, new student enrollment at the Minneapolis-based provider of online post-secondary education rose 10.5 percent compared to last year -- the first increase in nearly two years, Reuters reports.

Xcel Energy profits up 3.6 percent

Higher rates helped boost the electric and natural-gas utility company. However, Xcel is concerned the mild winter weather could hurt its bottom line. The Minneapolis-based company operates in eight states.

Hot weather is cool cash for Xcel Energy

Xcel Energy's second-quarter earnings increased 16 percent despite a 7 percent drop in revenue, the Minneapolis-based utility reported Thursday. Xcel said earnings increased in part due to rate increases and warmer-than-normal weather across Xcel's territory, which spans eight western and Midwestern states including Minnesota.

Xcel Energy drops plan to upgrade Prairie Island nuclear power plant

Xcel Energy says spending nearly $240 million to boost the power output at its Prairie Island nuclear plant near Red Wing is no longer a beneficial deal for customers, the Star Tribune reports. The Minneapolis-based utility first raised questions with regulators about the $310 million upgrade in March.