Minneapolis (AP) Colorado's largest utility says its earnings soared more than 400 percent during the third quarter, mostly due to increased revenue and fewer losses from discontinued businesses. Minneapolis–based Xcel Energy is reporting profits of $196 million during the three–month period, up from $46.7 million at the same time last year.
The results amounted to 47 cents a share, beating analysts'
estimates. Revenue rose 16% to almost $2.3 billion. Xcel credited part of the gain to higher electric margins from
this year's warmer weather, compared with 2004.
The company has at least two million electric and natural gas customers, and more than 4,000 miles of transmission lines, in Colorado.
Xcel serves ten western and midwestern states overall.
Copyright 2005 by the Associated Press. All rights reserved.
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