Quarterly ResultApr 30, 2026, 06:07 AM
XEL Q1 Ongoing EPS $0.91, GAAP EPS $0.89; Reaffirms 2026 Guidance
AI Summary
Xcel Energy Inc. reported strong first quarter 2026 results with ongoing earnings per share increasing to $0.91 from $0.84 in Q1 2025, and GAAP EPS rising to $0.89 from $0.84. Net income grew to $556 million on total operating revenues of $4,021 million. The company reaffirmed its 2026 ongoing EPS guidance of $4.04 to $4.16. Despite unseasonably warm weather, earnings benefited from increased recovery of electric infrastructure investments and electric sales growth, partially offset by higher financing costs and depreciation. Xcel Energy also highlighted a new data center agreement with Google and provided updates on various rate cases and wildfire litigation.
Key Highlights
- Q1 2026 ongoing EPS increased to $0.91 from $0.84 in Q1 2025.
- Q1 2026 GAAP EPS rose to $0.89 from $0.84 in Q1 2025.
- Reaffirmed 2026 ongoing EPS guidance of $4.04 to $4.16.
- Q1 2026 net income was $556 million, up from $483 million in Q1 2025.
- Total operating revenues reached $4,021 million in Q1 2026, up from $3,906 million.
- Entered an electric service agreement with Google for a new data center in Minnesota.
- Estimated total loss for Smokehouse Creek Fire Complex is $460 million before insurance.
- PSCo increased estimated Marshall Wildfire insurance recovery by $22 million.