MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — Xcel Energy Inc. (XEL) on Thursday reported fourth-quarter net income of $409 million.
On a per-share basis, the Minneapolis-based company said it had profit of 74 cents. Earnings, adjusted for severance costs, were 83 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
The utility posted revenue of $3.44 billion in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $3.97 billion.
For the year, the company reported profit of $1.77 billion, or $3.21 per share. Revenue was reported as $14.21 billion.
Xcel expects full-year earnings in the range of $3.50 to $3.60 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on XEL at https://www.zacks.com/ap/XEL