Xcel Energy Q3 2025 Earnings Report

10/30/2025 – 06:05 AM

• Third quarter GAAP diluted earnings per share were $0.88 in 2025 compared with $1.21 in 2024.

• Year-to-date GAAP diluted earnings per share were $2.47 in 2025 compared with $2.63 in 2024.

• Third quarter ongoing diluted earnings per share were $1.24 in 2025 compared with $1.25 in 2024.

• Year-to-date ongoing diluted earnings per share were $2.84 in 2025 compared with $2.69 in 2024.

• Xcel Energy reaffirms its 2025 ongoing earnings per share guidance of $3.75 to $3.85.

• Xcel Energy initiates its 2026 ongoing earnings per share guidance of $4.04 to $4.16.

• Xcel Energy’s long-term annual growth objectives reflect earnings per share growth of 6-8+% and dividend growth of 4-6%.

MINNEAPOLIS–(BUSINESS WIRE)–
Xcel Energy Inc. (NASDAQ: XEL) today reported 2025 third quarter GAAP earnings of $524 million, or $0.88 per share, compared with $682 million, or $1.21 per share in the same period in 2024 and ongoing earnings of $737 million, or $1.24 per share compared with $707 million or $1.25 per share in the same period in 2024. See Note 6 for reconciliation from GAAP to ongoing earnings.

Third quarter ongoing earnings reflect higher depreciation, interest charges and O&M expenses partially offset by increased recovery of infrastructure investments.

“Today Xcel Energy unveiled our updated five-year infrastructure investment plan to serve increased energy demand from our communities, continue progress towards carbon reduction goals for our electric system and make needed investments to strengthen our transmission and distribution systems,” said Bob Frenzel, chairman, president and CEO of Xcel Energy.

“We will continue to strive to ensure we keep customer bills as low as possible as we modernize and expand our country’s energy infrastructure. By virtually all standards – share of wallet, national and state averages, or tracking at or below inflation rates – Xcel Energy customers have some of the country’s lowest energy bills. ”

At 9:00 a.m. CDT today, Xcel Energy will host a conference call to review financial results. To participate in the call, please dial in 5 to 10 minutes prior to the start and follow the operator’s instructions.

The conference call also will be simultaneously broadcast and archived on Xcel Energy’s website at www.xcelenergy.com. To access the presentation, click on Investors under Company. If you are unable to participate in the live event, the call will be available for replay from October 30 to November 4.

Except for the historical statements contained in this report, the matters discussed herein are forward-looking statements that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements, including those relating to 2025 and 2026 EPS guidance, long-term EPS and dividend growth rate objectives, future sales, future expenses, future tax rates, future operating performance, estimated base capital expenditures and financing plans, projected capital additions and forecasted annual revenue requirements with respect to rider filings, expected rate increases or refunds to customers, expectations and intentions regarding regulatory proceedings, expected pension contributions, and expected impact on our results of operations, financial condition and cash flows of interest rate changes, increased credit exposure, and legal proceeding outcomes, as well as assumptions and other statements are intended to be identified in this document by the words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should,” “will,” “would” and similar expressions. Actual results may vary materially. Forward-looking statements speak only as of the date they are made, and we expressly disclaim any obligation to update any forward-looking information. The following factors, in addition to those discussed in Xcel Energy’s Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2024 and subsequent filings with the Securities and Exchange Commission, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: operational safety, including our nuclear generation facilities and other utility operations; successful long-term operational planning; commodity risks associated with energy markets and production; rising energy prices and fuel costs; qualified employee workforce and third-party contractor factors; violations of our Codes of Conduct; our ability to recover costs and our subsidiaries’ ability to recover costs from customers; changes in regulation; reductions in our credit ratings and the cost of maintaining certain contractual relationships; general economic conditions, including recessionary conditions, inflation rates, monetary fluctuations, supply chain constraints and their impact on capital expenditures and/or the ability of Xcel Energy Inc. and its subsidiaries to obtain financing on favorable terms; availability or cost of capital; our customers’ and counterparties’ ability to pay their debts to us; assumptions and costs relating to funding our employee benefit plans and health care benefits; our subsidiaries’ ability to make dividend payments; tax laws; uncertainty regarding epidemics; effects of geopolitical events, including war and acts of terrorism; cybersecurity threats and data security breaches; seasonal weather patterns; changes in environmental laws and regulations; climate change and other weather events; natural disaster and resource depletion, including compliance with any accompanying legislative and regulatory changes; costs of potential regulatory penalties and wildfire damages in excess of liability insurance coverage; regulatory changes and/or limitations related to the use of natural gas as an energy source; challenging labor market conditions and our ability to attract and retain a qualified workforce; and our ability to execute on our strategies or achieve expectations related to environmental, social and governance matters including as a result of evolving legal, regulatory and other standards, processes, and assumptions, the pace of scientific and technological developments, increased costs, the availability of requisite financing, and changes in carbon markets.

This information is not given in connection with any

sale, offer for sale or offer to buy any security.

XCEL ENERGY INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (amounts in millions, except per share data)
		Three Months Ended Sept. 30								Nine Months Ended Sept. 30
			2025				2024				2025				2024
Operating revenues
Electric		$	3,638			$	3,393			$	9,351			$	8,737
Natural gas			264				239				1,715				1,535
Other			13				12				42				49
Total operating revenues			3,915				3,644
Operating expenses
Electric fuel and purchased power			1,098			Original article, Author: Jam. If you wish to reprint this article, please indicate the source:https://aicnbc.com/11880.html 20252026Earnings Per Sharefinancial resultsXcel Energy Like (0) Generate poster About Author Jam Jan, a seasoned journalist, specializes in major corporations' stock industry and the IT tech internet field. With years of experience, she's known for dissecting global tech giants' stock moves, analyzing financial impacts and industry trends. Jan excels at simplifying complex data and tech concepts, and her work appears in renowned financial and tech publications. Samsung Semiconductor Recovery: 3Q25 Turnaround Explained Previous 6 days ago ServiceNow (NOW) Q3 2025 Earnings Next 6 days ago Related News Markets Chewy, Inc. Announces Pricing of Upsized Class A Common Stock Offering by Selling Stockholder and Concurrent Repurchase June 23, 2025 Markets UP’s Advice: Don’t Buy a Car or House Before 35? The Reason Will Shock You! July 19, 2025 Markets The Creator of China’s First Photon CT Revealed August 27, 2025