Xcel Energy reported a solid first quarter with increased GAAP and ongoing EPS, driven by infrastructure investment recovery and electric sales growth, despite warm weather impacts. The company reaffirmed its full-year EPS guidance, signaling confidence in its operational execution and strategic modernization efforts.
GAAP diluted EPS increased to $0.89 from $0.84 in the prior year.
positiveOngoing diluted EPS increased to $0.91 from $0.84 in the prior year.
positiveTotal operating revenues increased to $4,021 million from $3,906 million year-over-year.
positiveBook value per share increased to $38.01 from $34.34 in the prior year.
positiveCash dividends declared per common share increased to $0.5925 from $0.57.
positiveInterest charges increased by $80 million due to higher debt levels and interest rates.
attentionDepreciation and amortization increased by $40 million, largely due to system investment.
attentionUnseasonably warm weather negatively impacted earnings by an estimated $0.089 per share.
attentionPSCo's GAAP earnings decreased $0.03 per share and ongoing earnings decreased $0.06 per share due to unfavorable weather.
attentionNSP-Minnesota's GAAP earnings decreased $0.02 per share due to unfavorable weather and increased interest charges.
attentionSPS experienced a decrease in actual electric residential sales by 7.6% and C&I sales by 1.2%.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
PSCo | N/A | — | — | — |
NSP-Minnesota | N/A | — | — | — |
SPS | N/A | — | — | — |
NSP-Wisconsin | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
| Metric | Value | Period | Specificity | vs Prior |
|---|---|---|---|---|
| eps | $4.04 to $4.16 per share | FY2026 | tight_range | New |
| eps_growth | 6 to 8 plus percent | long-term | directional | New |
| eps_growth | 9 percent EPS growth on average | through 2030 | point | New |
$3 billion · first quarter
$14 billion · 2026
$800 million · funded by holding company
funded by debt offering proceeds
Net Debt to Adjusted EBITDA: 1x to 1.5x
funded by free cash flow and portfolio management proceeds
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Focus on execution and delivering plans to strengthen and modernize the grid, expand energy sources, and deploy innovative technologies.
Data center agreement in the Upper Midwest with Google sets a high bar for community development and investment.
Partnership with Google took a strong step forward, with more projects expected.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.