XEL
Xcel Energy Inc.73.73
-1.99-2.63%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Data centers double to 6GW by 2027.
Q&A zeroed in on data center acceleration, with Colorado large load tariff filing slated for early Q2 paired with generation packages to hit 6GW contracted by 2027, doubling prior views and focused on Upper Midwest. That extends sales growth past 2030 with modest decade impact; full update hits Q3. Management traced 2025 ROE shortfalls to SPS weather and Colorado delays, eyeing lifts from pending rate cases by 2027. They defended Colorado PSPS amid backlash, stressing minimized scopes via hardening. Smokehouse Creek settlements cover $382M of $430M low-end liability. Answers built on prepared remarks. Data centers reshape the growth thesis.
Key Stats
Market Cap
43.61BP/E (TTM)
22.48Basic EPS (TTM)
3.28Dividend Yield
0.03%Recent Filings
8-K
Xcel issues $800M notes
10-K
FY2025 results
Xcel Energy posted FY2025 GAAP net income of $2,018 million ($3.42 diluted EPS), down slightly from $1,936 million ($3.44) in 2024, yet ongoing diluted EPS accelerated to $3.80 from $3.50 amid robust infrastructure investments and 2.2% weather-normalized retail electric sales growth (derived). Electric revenues jumped $1,013 million y/y to $12,160 million on higher non-fuel riders (+$250 million), fuel recovery (+$214 million), and PTC pass-throughs (+$172 million), while natural gas revenues rose $222 million to $2,452 million from rate outcomes and higher commodity costs. Q4 momentum showed in Sherco Solar phases completing and capital expenditures surging to $11.6 billion annually, funding $60 billion through 2030 for renewables (~$14B) and transmission ($15B), with $4B cash from operations supporting $13.8B 2026 spend. Debt rose to $32.3B (long-term) amid $7B issuances, maintaining liquidity via $3.2B credit availability. 2026 ongoing EPS guides $4.04-$4.16, implying 6-9% growth. Wildfire litigation risk lingers from Marshall ($640M settled) and Smokehouse Creek ($430M accrued). Steady execution.
8-K
Ongoing EPS up 8.6% to $3.80
Xcel Energy reported 2025 GAAP EPS of $3.42, flat year-over-year, but ongoing EPS jumped to $3.80 from $3.50, fueled by infrastructure recovery and 2.2% weather-normalized electric sales growth, despite higher interest and depreciation. Marshall wildfire settlement hit $0.38 per share. Reaffirms 2026 ongoing EPS guidance of $4.04-$4.16. Ongoing beats guidance yearly.
8-K
Xcel secures $1.5B term loan
Xcel Energy entered a $1.5B 364-day delayed draw term loan on January 30, 2026, borrowing $750M initially for general corporate purposes. Unsecured, it matures January 30, 2027, at Term SOFR plus 85 bps, with a funded debt to total capitalization covenant ≤70%. Short-term liquidity secured, but cross-defaults over $75M loom.
8-K
PSCo files $190M rate hike
Public Service Company of Colorado, Xcel Energy's utility subsidiary, filed a natural gas rate case on December 29, 2025, seeking $190 million revenue increase (11.6%) on a $4.7 billion rate base, driven by $90 million capital investments and $53 million cost of capital shifts. CPUC decision expected Q3 2026. Regulatory approval not assured.
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