Xcel Energy Inc.'s third-quarter profit rose slightly but missed analysts' expectations largely because of mild weather.
Xcel said Thursday its adjusted earnings were $369 million, or 73 cents a share. Analysts forecast a profit of 76 cents per share.
A year ago, the Minneapolis-based utility, the largest in Minnesota and a leader in Colorado and several other states, earned $365 million, or 77 cents per share.
Mild weather, resulting in less need for summer cooling, lowered ongoing earnings by 7 cents per share in the third quarter. Xcel's earnings results also reflect higher electric and natural gas rates in some states.
The utility increased the lower end of its 2014 guidance by 5 cents to $1.95 per share. The upper end remained $2.05 per share. The company said 2015 annual earnings should be in the rage of $2.00 to $2.15 per share.
Xcel reported total revenue of $2.9 billion in the third quarter, up 1.7 percent from the third quarter last year.
Its stock closed Thursday at $33.52, up 67 cents or 2 percent.
Patrick Kennedy
