XEL earnings analysis
What we found in XEL's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Xcel Energy's Q1 2026 results reflect stable earnings with a diluted EPS of $0.89, consistent with the prior year. Though revenue reached $4.021 billion, slightly below expectations, the company maintains confidence in its operational performance as it reaffirms its 2026 EPS guidance of $4.04 to $4.16.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Stable Earnings
- Reported diluted EPS of $0.89, up from $0.84 in Q1 2025.
- Revenue Near Expectations
- Total revenue of $4.021 billion, slightly below the estimated $4.136 billion.
- Increased Operational Cash Flow
- Operating cash flow rose to $1.697 billion, up from $1.028 billion year-over-year.
- Segment Revenue Growth
- Regulated electric revenues increased to $2.976 billion, from $2.835 billion in Q1 2025.
- Declared Dividend Increase
- Xcel Energy declared a quarterly dividend of $0.59 per share, a slight increase from the prior period.
- Reinforced Financial Stability
- The company's credit facilities provide robust liquidity with $1.66 billion available for future needs.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Weather Impact
- Sales were negatively impacted by unusually mild weather, reducing EPS by an estimated $0.089.
- Increased Financing Costs
- Interest charges rose to $372 million, up from $309 million due to higher debt levels and interest rates.
- Ongoing Legal Liabilities
- Risks from ongoing litigation, particularly related to wildfire claims, could adversely affect financials.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.89
- Segment
- Regulated Electric
- Segment
- Regulated Natural Gas
What they said about what is next.
2026 EPS guidance reaffirmed between $4.04 and $4.16.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 25, 2026
- Xcel Energy’s 2025 10-K emphasizes its strategy to lead the clean-energy transition while keeping customer bills low, backing that with an aggressive capital plan (notably $60 billion over five years and ~$29 billion…
- 10-Q · October 30, 2025
- Xcel Energy reported Q3 operating revenues of $3,915 million, up $271 million (+7.4%) versus Q3 2024 ($3,644 million), but reported lower operating income and EPS as costs and one‑time charges rose. Operating income…
- 10-Q · April 24, 2025
- Xcel Energy reported Q1 revenue of $3,906 million, up $257 million (7.0%) versus Q1 2024, while diluted EPS was $0.84, down $0.04 from $0.88 a year earlier and below consensus of $0.92. Operating income was $677 million…
- 10-K · February 27, 2025
- Xcel Energy positions itself as a regulated utility leading the clean-energy transition while prioritizing customer affordability and reliability. The 10-K highlights an aggressive capital program (five-year plan of $45…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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