SUGAR LAND--January 29, 2010--Researched by Industrial Info Resources (Sugar Land, Texas)--Xcel Energy Incorporated (NYSE:XEL) (Minneapolis, Minnesota) recently reported earnings for the fourth quarter and fiscal year 2009. Xcel ended the year with net income of $680.9 million, up 5.5% from fiscal year 2008. Higher electricity rates in Minnesota, Texas, Colorado, New Mexico and Wisconsin helped boost revenue for the quarter, although this was somewhat offset by reduced demand. The 750-megawatt, coal- and gas-fired Unit 3 at the Comanche Power Station in Pueblo, Colorado, is set to begin operations in February.

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Xcel Energy Inc (XEL)

Q4 2009 Earnings Call

January 28, 2010 11:00 am ET

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Utility company Xcel Energy Inc. (NYSE: XEL) announced on Thursday that its net income was up 3% in the 4th quarter.

The company said that earnings rose to $167.8 million, or 37 cents per share, up from $163 million, or 36 cents per share, in the 4th quarter a year ago.

Revenue at Xcel Energy fell to $2.6 billion from $2.7 billion, while the company's operating expenses fell to $2.26 billion down from $2.35 billion, even though costs for maintenance and conservation rose.

The results were a slight improvement upon the expectations of analysts surveyed by FactSet Research who expected earnings of 36 cents per share.

Xcel Energy said that while it benefited from higher rates and lower overall expenses, extreme weather, lower sales and higher purchase capacity power costs prevented earnings from taking off.

Xcel's shares were down 8 cents for the day at $20.86.

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