Filtered by tag: Earnings Remove Filter

MGE ENERGY REPORTS THIRD-QUARTER EARNINGS

MGE Energy has reported financial results for the third quarter of 2019. MGE Energy’s earnings for the third quarter of 2019 were $30.7 million, or 88 cents per share, compared to $29.5 million, or 85 cents per share, for the same period in the prior year. During the third quarter of 2019, an increase in owned renewable generation assets contributed to electric earnings growth compared to the prior year. The completion of the Saratoga Wind Farm added generation assets in 2019. The Two Creeks and Badger Hollow Solar projects are under construction and expected to be completed by the end of 2020. Electric retail sales remained relatively flat quarter over quarter. The average daily temperature for both the three months ended September 30, 2019 and 2018 was measured at normal levels.

XCEL ENERGY REPORTS THIRD QUARTER 2019 EARNINGS

Xcel Energy has reported 2019 third quarter GAAP and ongoing earnings of $527 million, or $1.01 per share, compared with $491 million, or $0.96 per share in the same period in 2018. Earnings reflect higher electric margins primarily due to non-fuel riders, regulatory rate outcomes and lower O&M expenses, partially offset by lower AFUDC, increased depreciation, and interest expenses.
“Xcel Energy achieved solid quarterly results and as a result we have narrowed our expected earnings to the upper half of our 2019 guidance range. In addition we have issued 2020 earnings guidance of $2.73 to $2.83 per share, which is consistent with our 5-7% growth objective,” said Ben Fowke, chairman, president and CEO of Xcel Energy.
“We have planned capital investments of $22 billion in the next five years to continue our clean energy transition, expand our renewable portfolio and enhance and protect service reliability. These investments will deliver economic and environmental benefits for our shareholders, customers and stakeholders while supporting our drive to achieve an 80 percent reduction in carbon emissions by 2030.”

WEC ENERGY GROUP POSTS THIRD-QUARTER RESULTS

WEC Energy Group has reported net income of $234.3 million, or 74 cents per share for the third quarter of 2019. This compares to earnings of $233.2 million, or 74 cents per share for last year’s third quarter. For the first nine months of 2019, the company recorded net income of $890.1 million, or $2.81 per share — up from $854.3 million, or $2.70 per share, in the corresponding period a year ago. Consolidated revenues for the third quarter and nine months ended September 30, 2019, were $1.6 billion and $5.6 billion, respectively, both level with the comparable periods in 2018. “We delivered a solid third quarter despite summer temperatures that were cooler than last year and destructive July storms — including nine tornadoes — that caused extensive damage to our distribution network,” said Gale Klappa, Executive Chairman.

ALLIANT ENERGY ANNOUNCES THIRD QUARTER RESULTS

Alliant Energy Corporation has announced U.S. generally accepted accounting principles (GAAP) and non-GAAP consolidated unaudited earnings per share (EPS) for the three months ended September 30 as follows:
“As we advance our commitment to cleaner energy and affordable customer options, we are investing in renewable energy and distribution system enhancements,” said John Larsen, Alliant Energy Chairman, President and CEO. “We raised our 2019 earnings guidance to a range of $2.27 to $2.33 per share, largely due to the benefits of weather during the first nine months of this year. I am also pleased to share that our Board of Directors has approved a 7 percent increase to our annual common stock dividend target, raising it to $1.52 per share for 2020.”