Xcel Energy 2012 Annual Report Download - page 3

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We are pleased to report that
2012 was an outstanding year for
Xcel Energy. We met our financial
goals, achieved ambitious operational
targets, reached a new high for
customer satisfaction, built on our
unparalleled record of environmental
leadership and worked hard for
our communities. We continued to
make significant investments in our
utility business to ensure reliability
for customers and protect the
environment. Together, those
efforts build lasting value for you.
More than anything, we had the
opportunity in 2012 to do what
we do best. Whether it’s restoring
service after a storm or tackling
industry issues such as aging utility
infrastructure, Xcel Energy employees
come through for customers, who
rely on us around the clock. You might
say we are there when it matters
most and every day in between.
It’s a responsibility we take seriously.
We also are serious about delivering
on our objectives for shareholders,
and one of the best ways for you to
measure our success is to look at
2012 financial results.
DELIVERING STRONG
FINANCIAL RESULTS
We delivered ongoing earnings per
share of $1.82 in 2012, compared with
$1.72 in 2011. Those results were in
the upper half of our guidance range
and represent the eighth consecutive
year we’ve met or exceeded our
earnings guidance.
Earnings increased in large part
because we were able to obtain
timely recovery for the ongoing
utility investments we are making.
We also grew our dividend for
the ninth consecutive year, and
the 4-cent increase was at the top
of the 2 percent to 4 percent range
that we target.
Our financial results helped propel
Xcel Energy stock to an 11-year high
in August, trading just under $30 per
share. And we took advantage of our
strong credit quality and favorable
interest rates to successfully issue
$1.8 billion of debt to help finance
our significant investments.
Continuing that momentum,
we anticipate delivering ongoing
earnings of $1.85 to $1.95 in 2013.
BUILDING ON
OUR OPERATIONAL
EXCELLENCE
Our ability to run our business well
is just as important as meeting
financial goals. We measure
operational excellence in a variety
A
LETTER
TO OUR SHAREHOLDERS
BEN FOWKE, CHAIRMAN,
PRESIDENT
AND CEO
XCEL ENERGY 1ANNUAL REPORT 2012