2026

Xcel Energy (XEL) reported a decrease in third quarter 2025 GAAP diluted earnings per share ($0.88 vs $1.21 in 2024). Year-to-date GAAP diluted earnings also declined ($2.47 vs $2.63). However, third quarter ongoing earnings per share were nearly flat ($1.24 vs $1.25), while year-to-date ongoing earnings increased ($2.84 vs $2.69). Xcel reaffirms its 2025 ongoing EPS guidance of $3.75-$3.85 and initiates 2026 ongoing EPS guidance of $4.04-$4.16, targeting 6-8+% long-term EPS growth and 4-6% dividend growth. A conference call was scheduled to review these results.