Xcel Energy 2009 Annual Report Download - page 4

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DEAR SHAREHOLDERS:
Although a slow economy continued to
affect energy sales, 2009 was a good year for
Xcel Energy. The company met its financial goals,
achieved outstanding operational results and
stayed true to its commitments to the environment
and the community. Most important, we delivered
value for you with a strong and growing dividend.
Connected, the theme of this report, illustrates
the strength of our commitment to the customers
who depend on us, the communities we call
home and the clean energy future we work
diligently to achieve. No matter the challenges,
Xcel Energy employees remain focused on those
responsibilities. We stay connected, which is
evident in our results.
MEE TING OUR
FINANCIAL GOALS
Ongoing earnings for 2009 were $1.50 per share,
compared with $1.45 per share in 2008. We met
the mid-point of our ongoing earnings guidance
of $1.45 to $1.55 per share and have, in fact,
delivered earnings within our guidance range for
the last five years in a row. Our long-term goal is
to increase earnings 5 percent to 7 percent
annually. Since 2005, ongoing earnings have
increased 6.9 percent annually.
Although we experienced unfavorable weather
conditions in 2009 and lower energy sales because
of a sluggish economy, the results of various rate
case settlements offset those negative impacts
and enabled us to meet our earnings goal. Looking
ahead, our earnings guidance for 2010 is $1.55 to
$1.65 per share. We do expect the economy to
Chairman and CEO Dick Kelly (left) and President and COO Ben Fowke
are pictured above. Fowke also is a member of Xcel Energy’s board of directors.