* Backs FY10 EPS view of $1.55 to $1.65
* Reaches $25 mln settlement with Provident Life
July 7 Power company Xcel Energy Inc (XEL.N)
backed its full-year earnings forecast and said it reached a
$25 million insurance settlement with Provident Life & Accident
In a filing with the U.S. Securities and Exchange
Commission, Xcel said it will reiterate its 2010 earnings
outlook of $1.55 to $1.65 per share in an investors'
presentation on July 9.
Analysts on average are expecting the company to earn $1.62
a share, according to Thomson Reuters I/B/E/S.
In a separate filing, Xcel said settlement claims against
Provident were in a case related to Xcel's discontinued
corporate owned life insurance program.
Provident will fund $15 million of the settlement amount
and Reassure America Life Insurance Co the rest, Xcel said.
The company added it expected to record this settlement of
about $0.05 of non-recurring earnings per share in the third
Shares of Xcel closed at $21.37 Wednesday on the New York
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(Reporting by Arup Roychoudhury in Bangalore; Editing by Don