Sector: Utilities|Industry: Utilities - Regulated Electric|Market Cap: $38.13B|Employees: 11.3K
Xcel Energy is a major U.S. regulated electric and natural gas delivery company, serving customers in eight states. The company's core business model revolves around providing a comprehensive portfolio of energy-related products and services through its four utility subsidiaries. Xcel Energy leverages its geographic presence and diverse energy resources to maintain a strong market position.
Total operating revenues decreased slightly to $3,644 million from $3,662 million in the same quarter last year, indicating a minor contraction in the company's top-line performance.
Total operating expenses were nearly unchanged at $2,733 million compared to $2,747 million in the prior year, suggesting stable cost management despite revenue fluctuations.
Net income increased to $682 million from $656 million in the prior year, indicating improved profitability despite the minor revenue decrease, potentially due to cost management or other income.