Earnings summaries and quarterly performance for XCEL ENERGY.
Executive leadership at XCEL ENERGY.
Bob Frenzel
Detailed
Chief Executive Officer
CEO
AR
Amanda Rome
Executive Vice President, Group President, Utilities and Chief Customer Officer
BV
Brian Van Abel
Executive Vice President, Chief Financial Officer
RL
Ryan Long
Executive Vice President, Chief Legal and Compliance Officer
TO
Tim O'Connor
Executive Vice President, Chief Operations Officer
Board of directors at XCEL ENERGY.
CP
Charles Pardee
Detailed
Director
DS
Devin Stockfish
Detailed
Director
GK
George Kehl
Detailed
Director
JP
James Prokopanko
Detailed
Director
LC
Lynn Casey
Detailed
Director
MB
Megan Burkhart
Detailed
Director
NJ
Netha Johnson
Detailed
Director
PK
Patricia Kampling
Detailed
Lead Independent Director
RO
Richard O'Brien
Detailed
Director
TW
Tim Welsh
Detailed
Director
Research analysts who have asked questions during XCEL ENERGY earnings calls.
Carly Davenport
Goldman Sachs
4 questions for XEL
Also covers: AEE, AEP, D +14 more
JT
Jeremy Tonet
JPMorgan Chase & Co.
4 questions for XEL
Also covers: AEE, AEP, AM +45 more
Julien Dumoulin-Smith
Jefferies
4 questions for XEL
Also covers: AEE, AEP, AES +54 more
Nicholas Campanella
Barclays
4 questions for XEL
Also covers: AEE, AEP, AES +32 more
DC
Durgesh Chopra
Evercore ISI
3 questions for XEL
Also covers: AEE, AEP, AES +22 more
TM
Travis Miller
Morningstar
3 questions for XEL
Also covers: CMS, DTE, ES +10 more
AC
Anthony Crowdell
Mizuho Financial Group
2 questions for XEL
Also covers: AEE, AEP, AES +30 more
SK
Sophie Karp
KeyBanc Capital Markets Inc.
2 questions for XEL
Also covers: AGR, AVA, CEG +12 more
Steven Fleishman
Wolfe Research
2 questions for XEL
Also covers: AEP, CEG, CNP +18 more
DA
David Arcaro
Morgan Stanley
1 question for XEL
Also covers: AEP, AES, ATO +32 more
PP
Paul Patterson
Glenrock Associates
1 question for XEL
Also covers: AEE, ES, ETR +7 more
Ross Fowler
Bank of America
1 question for XEL
Also covers: AEP, BKH, D +10 more
RL
Ryan Levine
Citigroup
1 question for XEL
Also covers: AEP, AES, ATO +17 more
Steve Fleishman
Wolfe Research, LLC
1 question for XEL
Also covers: AEP, CEG, CNP +11 more
Recent press releases and 8-K filings for XEL.
Xcel Energy completes upsized cash tender offers for NSP first mortgage bonds
XEL
Debt Issuance
- $506.684 million aggregate principal amount of Northern States Power Co. first mortgage bonds were validly tendered and accepted after Xcel Energy waived the Maximum Purchase Condition.
- The offers expired on December 19, 2025, with settlement scheduled for December 24, 2025.
- Tendered amounts by series include $178.96 M of 3.600% due May 15, 2046; $147.646 M of 4.00% due August 15, 2045; and $180.078 M of 4.125% due May 15, 2044—all accepted in full.
- An additional $2.492 million principal amount was tendered under guaranteed delivery procedures and remains subject to completion of delivery.
- Holders accepted will receive the applicable Total Consideration per $1,000 principal plus accrued and unpaid interest through the settlement date.
3 days ago
Xcel Energy warns of potential Front Range power shutoffs
XEL
- Xcel Energy plans to activate Public Safety Power Shutoffs (PSPS) across parts of the Colorado Front Range starting around noon Wednesday due to extreme winds (65–80+ mph) and prolonged dry, warm conditions raising wildfire risk.
- The utility will deploy its Enhanced Powerline Safety Settings (EPSS) systemwide, which can automatically cut power upon line contact; outages under EPSS or PSPS may take hours to days to restore due to required inspections and repairs.
- These measures could affect up to 1.6 million Colorado customers served by Xcel (excluding municipal utilities) from Fort Collins through the Eastern Plains and Pueblo region; customers will be directly notified and an outage map provided.
- The precautionary stance follows a $640 million settlement related to the 2021 Marshall Fire litigation, motivating proactive wildfire ignition avoidance.
- Xcel is coordinating with local emergency managers and school districts and monitoring weather conditions (wind, humidity, fuel moisture) around the clock to inform PSPS decisions.
Dec 15, 2025, 4:39 PM
Xcel Energy initiates $345 M tender offers for NSP bonds
XEL
Debt Issuance
- Xcel Energy announced three separate cash tender offers to purchase up to $345 million aggregate principal amount of first mortgage bonds issued by Northern States Power Company.
- The offers cover three series of bonds (3.600% due May 15, 2046; 4.00% due August 15, 2045; 4.125% due May 15, 2044) with aggregate outstanding of $350 million, $300 million, and $300 million respectively, each at a +45 bps spread and no proration.
- Offers expire at 5:00 p.m. ET on December 19, 2025 (Price Determination at 10:00 a.m. ET same day) with settlement expected December 24, 2025; purchases are subject to the $345 million maximum purchase condition, which Xcel Energy may waive or increase.
Dec 15, 2025, 2:24 PM
Xcel Energy subsidiary seeks $175M rate increase in New Mexico
XEL
Guidance Update
- SPS filed an electric rate case with the NMPRC seeking a $175 million (16.7%) increase in base rate revenue, based on a test year ending Nov. 30, 2027, with an ROE of 10.5%, an equity ratio of 56% and a $3.9 billion retail rate base.
- The request is driven by capital investments ($133 M), asset allocation and wholesale load roll-off ($148 M), O&M ($36 M), depreciation & amortization ($34 M) and increased ROE ($28 M), partially offset by retail revenue growth (–$204 M).
- A NMPRC decision and implementation of final rates is anticipated in Q4 2026.
Nov 20, 2025, 11:45 PM
Xcel Energy’s Wisconsin Utility Receives PSCW Verbal Approval for Rate Increases
XEL
- In March 2025, NSP-Wisconsin, a subsidiary of Xcel Energy Inc., filed a multi-year electric and natural gas rate request using forward-looking 2026–2027 test years with a 10.0% ROE and 53.5% equity ratio.
- On November 6, 2025, the Public Service Commission of Wisconsin verbally approved a $126 million electric rate increase (split $68 million in 2026, $58 million in 2027) and a $22 million natural gas increase ($18 million in 2026, $4 million in 2027), based on a 9.8% ROE and 52.5% equity ratio.
- A final written order is expected in December 2025, with new rates effective January 2026.
Nov 7, 2025, 9:32 PM
Xcel Energy reports Q3 2025 results
XEL
Earnings
Guidance Update
New Projects/Investments
- In Q3 2025, Xcel Energy recorded GAAP earnings of $0.88 per share and ongoing earnings of $1.24 per share, excluding a $290 million wildfire settlement charge; the company reaffirmed its 2025 EPS guidance of $3.75–$3.85 and initiated 2026 EPS guidance of $4.04–$4.16.
- Xcel updated its 2025–2030 capital expenditure forecast to $60 billion, representing approximately 11% annualized rate base growth; the company plans to fund incremental investments with 40% equity and 60% debt, including $23 billion of debt and $7 billion of equity content in 2026–2030.
- Xcel recorded a $290 million (or $0.36/share) non-recurring charge for the Marshall Wildfire settlement, updated its low-end liability estimate to $410 million with $360 million committed in settlement agreements and $500 million of insurance coverage.
- The company introduced an updated five-year infrastructure plan to deliver 7,500 MW of zero-carbon renewables, 3,000 MW of natural gas generation, 2,000 MW of energy storage, 1,500 high-voltage transmission line miles and ~$5 billion in distribution/transmission resiliency investments.
Oct 30, 2025, 2:00 PM
Xcel Energy reports Q3 2025 results
XEL
Earnings
Guidance Update
New Projects/Investments
- GAAP EPS of $0.88 and ongoing EPS of $1.24 in Q3 2025, compared to ongoing EPS of $1.25 in Q3 2024
- Reaffirmed 2025 ongoing EPS guidance of $3.75–$3.85 and initiated 2026 guidance of $4.04–$4.16
- Comprehensive settlement reached to resolve the Marshall Fire litigation
- Updated five-year capital plan to $60 billion, targeting ~11% annual rate base growth from 2026–2030
- Energized Meta datacenter in Minnesota and updated base plan to ~3 GW of data center load contracted by 2026
Oct 30, 2025, 2:00 PM
Xcel Energy reports Q3 2025 results
XEL
Earnings
Guidance Update
New Projects/Investments
- Xcel Energy delivered Q3 EPS of $1.24 per share versus $1.25 in Q3 2024; results were driven by regulatory outcomes and higher AFUDC, offset by increased financing costs, depreciation/amortization, and O&M expenses. Weather-normalized electric sales rose 2.5% YTD, with 3% full-year growth forecast.
- Invested over $3 billion in Q3 and $8 billion year-to-date in resilient energy infrastructure for customers.
- Unveiled an updated five-year infrastructure plan to add 7,500 MW of zero-carbon renewables, 3,000 MW of natural gas generation, 2,000 MW of energy storage, 1,500 high-voltage transmission miles, and $5 billion in distribution/transmission resiliency investments.
- Reaffirmed 2025 EPS guidance of $3.75–$3.85, initiated 2026 EPS guidance of $4.04–$4.16 (≈8% YoY growth), updated long-term EPS growth target to 6–8%+, and maintained a 4–6% dividend growth objective (payout ratio 45–55%).
Oct 30, 2025, 2:00 PM
Xcel Energy reports Q3 2025 earnings and updates capital plan
XEL
Earnings
Guidance Update
New Projects/Investments
- Delivered $1.24 ongoing EPS in Q3 2025, flat year-over-year, driven by + $0.18 from regulatory outcomes and sales growth and + $0.08 from AFUDC, partly offset by higher financing (– $0.15), depreciation (– $0.09) and O&M costs (– $0.05).
- Reaffirmed 2025 EPS guidance of $3.75–$3.85 and initiated 2026 guidance of $4.04–$4.16, implying ~8% growth from the 2025 midpoint.
- Announced a $60 billion five-year (2026–2030) capital plan targeting ~11% annual rate base growth, including 7,500 MW renewables, 3,000 MW gas generation, 2,000 MW energy storage and ~$5 billion in T&D, financed ~40% equity/60% debt.
- Reached settlement in principle on the Marshall Wildfire with a $290 million charge (excluded from ongoing EPS) and updated Small Coast Creek Wildfire liability to $410 million (with $360 million committed), supported by ~$500 million of insurance.
Oct 30, 2025, 2:00 PM
Xcel Energy reports Q3 2025 results and updates guidance
XEL
Earnings
Guidance Update
New Projects/Investments
- Xcel Energy delivered Q3 2025 GAAP diluted EPS of $0.88 (vs. $1.21) and ongoing diluted EPS of $1.24 (vs. $1.25), with net income of $524 million and ongoing earnings of $737 million.
- Year-to-date ongoing EPS rose to $2.84 from $2.69, and the company reaffirmed its 2025 ongoing EPS guidance of $3.75–$3.85 while initiating 2026 guidance of $4.04–$4.16.
- Third quarter ongoing earnings were driven by higher depreciation, interest charges and O&M expenses, partially offset by increased recovery of infrastructure investments.
- Xcel unveiled a $60 billion base capital expenditure plan for 2026–2030 to modernize and expand its energy infrastructure and support carbon reduction goals.
Oct 29, 2025, 9:35 PM
Quarterly earnings call transcripts for XCEL ENERGY.
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