MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — Xcel Energy Inc. (XEL) on Thursday reported third-quarter net income of $524 million.
On a per-share basis, the Minneapolis-based company said it had profit of 88 cents. Earnings, adjusted for one-time gains and costs, came to $1.24 per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.31 per share.
The utility posted revenue of $3.92 billion in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $3.93 billion.
Xcel expects full-year earnings in the range of $3.75 to $3.85 per share.
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