Xcel Energy, AEP exceed analyst expectations While Dominion persists through drop

Xcel Energy said its fourth-quarter earnings increased to $167.8 million, or 37 cents a share, from $163 million, or 36 cents a share, year over year for the past year. This increase exceeded analyst expectations of an increase of 36 a share.

Revenue fell to $2.6 billion from $2.7 billion. Total operating expenses dropped to $2.26 billion from $2.35 billion, despite higher costs for maintenance and conservation costs.

The company reiterated its 2010 earnings forecast of $1.55 to $1.65.

AEP saw its net increase to $238 million, or 50 cents a share, from $152 million, or 38 cents, a year earlier, exceeding analyst expectations of an increase in earnings of 45 cents a share on revenue of $3.59 billion.

Adjusted earnings fell to 50 cents a share from 59 cents.

The Columbus, Ohio, company's revenue rose to $3.3 billion from $3.2 billion.

The company repeated its 2010 adjusted-earnings forecast of $2.80 to $3.20 a share, compared with the Wall Street target of $3.05 a share.

Dominion Resources said its fourth-quarter income fell 53%, citing higher outage costs, unfavorable weather in its regulated utility business and higher depreciation and amortization expenses.

Separately, Dominion boosted is annual dividend by 4.6% to $1.83 a share in 2010, from $1.75 a share in the year-ago period.

Dominion said earnings fell to $165 million, or 28 cents a share, from $348 million, or 60 cents a share, year over year for the past year..

Operating earnings fell to 63 cents a share from 73 cents a share. Revenue dropped 22% to $3.3 billion from $4.2 billion.

Dominion expects first-quarter operating earnings of 90 cents a share to $1 a share, compared to the analyst target of 92 cents a share.

The company also affirmed its 2010 operating earnings guidance of $3.20 to $3.40 a share.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs