Xcel Energy Inc. (XEL) Q1 2024 Earnings Call Transcript

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Q1: 2024-04-25 Earnings Summary

EPS of $0.88 beats by $0.11
 | Revenue of $3.65B (-10.56% Y/Y) misses by $475.32M

Xcel Energy Inc. (NASDAQ:XEL) Q1 2024 Results Conference Call April 25, 2024 10:00 AM ET

Company Participants

Paul Johnson - VP, IR and Treasurer
Bob Frenzel - President, CEO and Chairman
Brian Van Abel - EVP and CFO

Conference Call Participants

Nick Campanella - Barclays
Steve Fleishman - Wolfe Research
Jeremy Tonet - JPMorgan
Carly Davenport - Goldman Sachs
Anthony Crowdell - Mizuho
Sophie Karp - KeyBanc
Ryan Livine - Citi
Paul Patterson - Glenrock Associates

Operator

Hello, and welcome to Xcel Energy First Quarter 2024 Earnings Conference Call. My name is Melissa, and I will be your coordinator for today's event. Please note this conference is being recorded. [Operator Instructions] Questions will only be taken from institutional investors, reporters can contact media relations with inquiries and individual investors and others can reach out to Investor Relations. [Operator Instructions]

I'll now turn the call over to Paul Johnson, Vice President, Treasurer and Investor Relations. Please go ahead.

Paul Johnson

Good morning, and welcome to Xcel Energy's 2024 First Quarter Earnings Call. Joining me today are Bob Frenzel, Chairman, President and Chief Executive Officer; and Brian Van Abel, Executive Vice President, Chief Financial Officer. In addition, we have other members of the management team in the room to answer your questions if needed.

This morning, we'll review our 2024 first quarter results and highlights, discuss recent wildfires and our mitigation efforts and share recent business developments. Slides accompanying today's call are available on our website.

Please note, that we've changed our presentation, as a result, we no longer refer to electric and natural gas margin. Instead, we'll discuss changes in revenue and cost of goods sold from the income statement. Please note that these most fluctuations and cost of electric fuel and natural gas are recovered through regulatory mechanisms and are generally earnings neutral.

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