Core Insights - U.S. utility Xcel Energy reported a 22% increase in fourth-quarter profit, driven by higher electricity demand from data centers, which helped to offset rising expenses [1] Company Summary - Xcel Energy's fourth-quarter profit rose by 22%, indicating strong financial performance [1] - The increase in profit was primarily attributed to heightened demand for electricity from data centers [1] - Rising expenses were noted, but the demand from data centers effectively mitigated their impact on profitability [1]

MINNEAPOLIS--(BUSINESS WIRE)--Xcel Energy Inc. (NASDAQ: XEL) today reported 2025 GAAP diluted earnings of $2.02 billion, or $3.42 per share, compared with $1.94 billion, or $3.44 per share in the same period in 2024 and ongoing earnings of $2.24 billion, or $3.80 per share, compared with $1.97 billion, or $3.50 per share in the same period in 2024. See Note 6 for reconciliation from GAAP to ongoing earnings. The change in ongoing earnings reflect increased recovery of infrastructure investments. ...

Financial Performance - Xcel Energy reported 2025 GAAP diluted earnings of $2.02 billion, or $3.42 per share, compared to $1.94 billion, or $3.44 per share in 2024[2]. - Ongoing earnings for 2025 were $2.24 billion, or $3.80 per share, up from $1.97 billion, or $3.50 per share in 2024[2]. - The company experienced a net income of $2.018 billion for 2025, compared to $1.936 billion in 2024[10]. - Xcel Energy's GAAP diluted EPS for 2025 was $0.95, compared to $0.81 in 2024, with ongoing diluted EPS at $0.96, up from $0.82[21]. - Ongoing diluted EPS for 2025 was $3.80, an increase from $3.50 in 2024, reflecting a growth of 8.6%[96]. - Xcel Energy reported a net income of $567 million for Q4 2025, up from $464 million in Q4 2024, representing a 22.3% increase[91]. Revenue and Expenses - Operating revenues for 2025 totaled $14.669 billion, an increase from $13.441 billion in 2024, with electric revenues rising to $12.160 billion from $11.147 billion[10]. - Total operating expenses for 2025 were $12.086 billion, compared to $11.055 billion in 2024, reflecting increased costs in various areas[10]. - Electric fuel and purchased power expenses increased by $173 million in 2025, primarily due to increased commodity prices and transmission expenses[28]. - Natural gas sold and transported expenses increased by $90 million in 2025, driven by higher commodity prices and volumes[31]. - O&M expenses rose by $192 million in 2025, mainly due to increased benefits and healthcare costs, wildfire mitigation, and nuclear generation costs[31]. - Depreciation and amortization increased by $209 million for the year, primarily due to system investment[32]. - Other income rose by $92 million for the year, mainly from gains on debt repurchases[33]. - Interest charges increased by $213 million in 2025, attributed to higher long-term and short-term debt levels and rising interest rates[33]. Guidance and Future Projections - Xcel Energy reaffirmed its 2026 EPS guidance of $4.04 to $4.16 per share[6]. - The company expects ongoing earnings guidance for 2026 to be in the range of $4.04 to $4.16 per share[93]. - Weather-normalized retail electric sales are projected to increase approximately 3% in 2026[94]. - Base capital expenditures forecast for 2026-2030 totals $60 billion, with $30.18 billion expected from cash operations and $22.82 billion from new debt[42]. Infrastructure and Strategic Initiatives - The company placed critical infrastructure into service, including Phase 2 of the Sherco Solar facility and the conversion of the Harrington coal plant to natural gas[4]. - Xcel Energy announced strategic alliances with industry-leading partners to enhance resource delivery and accelerate data center development[4]. - NSP-Minnesota and NSP-Wisconsin jointly issued an RFP for up to 3,500 MW of renewable energy resources to achieve commercial operation by December 31, 2030[58]. - PSCo's Phase I electric resource plan reflects a 3% compound annual sales growth through 2031, with a generation capacity need of approximately 5,400 MW[63]. - SPS issued a RFP seeking approximately 3,200 MW of accredited capacity by 2030 to support projected load growth and reliability requirements[68]. Rate Cases and Capital Investments - NSP-Minnesota filed for a net annual electric rate increase of $44 million (15%) in South Dakota, based on a rate base of approximately $1.2 billion and a requested ROE of 10.3%[49]. - NSP-Minnesota requested an annual electric rate increase of $45 million (19.3%) in North Dakota, with a rate base of approximately $817 million and an equity ratio of 52.5%[51]. - NSP-Minnesota filed for a natural gas rate increase of $63 million (8.2%) in Minnesota, based on a rate base of $1.5 billion and a requested ROE of 10.65%[54]. - PSCo filed an electric rate case in Colorado seeking a revenue increase of $356 million (9.9%), based on a projected rate base of $13 billion and a requested ROE of 9.8%[59]. - PSCo filed a natural gas rate case in Colorado seeking a revenue increase of $190 million (11.6%), based on a projected rate base of $4.7 billion and a requested ROE of 10.75%[61]. - SPS filed an electric rate case in New Mexico seeking a revenue increase of $175 million (16.7%), based on a retail rate base of $3.9 billion and a requested ROE of 10.5%[66]. Shareholder Returns and Financial Health - Cash dividends declared per common share for 2025 were $2.28, up from $2.19 in 2024, indicating a growth of 4.1%[96]. - Xcel Energy's book value per share increased to $40.07 in 2025 from $34.65 in 2024, reflecting a growth of 15.5%[96]. - Total debt as of December 31, 2025, was $33.883 billion, representing 59% of total capitalization[36]. - Xcel Energy's total capitalization increased to $57.492 billion in 2025 from $48.636 billion in 2024[36]. - The effective income tax rate for 2025 was (30.3)%, a 147.5% increase compared to (177.8)% in 2024[35].

Group 1 - The article provides a market analysis focusing on key companies such as S&P 500, FedEx Corporation, JPMorgan Chase & Co, and Xcel Energy Inc [1] Group 2 - The analysis includes insights into the performance and trends of the S&P 500 index, indicating its overall market health and investor sentiment [1] - FedEx Corporation's operational efficiency and recent financial results are highlighted, showcasing its impact on logistics and supply chain sectors [1] - JPMorgan Chase & Co's financial performance is discussed, emphasizing its role in the banking industry and broader economic implications [1] - Xcel Energy Inc's developments in the energy sector are examined, particularly in relation to renewable energy initiatives and regulatory changes [1]

Core Insights - Great River Energy, ITC Midwest, and Xcel Energy proposed new electric transmission lines to enhance electricity reliability and connect new energy sources to the grid, submitting a Certificate of Need application for the PowerOn Midwest project to the Minnesota Public Utilities Commission [1][5] Project Overview - PowerOn Midwest includes a 765 kilovolt (kV) backbone transmission line that will connect to the existing grid in eastern South Dakota, traverse southern Minnesota, and link to the broader regional grid [2] - The 765 kV line will connect the Lakefield, Pleasant Valley, and North Rochester substations located in Jackson, Mower, and Olmstead counties in Minnesota [2] Economic and Environmental Impact - The utility partners emphasized that PowerOn Midwest is a crucial investment for Minnesota and the Upper Midwest, aiming to ensure reliable and affordable electricity, support economic growth, and provide access to lower-cost energy resources [3] - The new infrastructure is designed to accommodate energy from various sources, ensuring reliable energy delivery throughout the year [3] Regulatory and Development Timeline - The projects were part of a portfolio approved by the Midcontinent Independent System Operator (MISO) in December 2024, which included 24 transmission projects [4] - Route options are still being developed, with Route Permit applications expected to be filed with the MPUC in 2027, and construction anticipated to begin by 2030, with operations starting in 2034 [7] Additional Projects - In addition to the 765 kV line, the Certificate of Need application includes two 345 kV projects, which involve rebuilding an existing single-circuit 345 kV line and adding a second circuit to another existing line [8]

Core Viewpoint - GE Vernova Inc. has announced a strategic alliance with Xcel Energy to enhance long-term grid and generation investments, aiming to improve reliability, affordability, and sustainability for customers [1]. Group 1: Strategic Alliance Details - The Strategic Alliance Agreement will support energy projects through the 2030s, strengthening the existing relationship between GE Vernova and Xcel Energy [1]. - GE Vernova will supply a wide range of equipment and services, providing greater supply certainty and cost visibility [2]. Group 2: Initial Commitments - Xcel Energy has executed a reservation agreement for five F-class gas turbines to support future generation needs, with manufacturing to occur at U.S.-based facilities [3]. - Xcel Energy has also reserved capacity for multiple gigawatts of wind projects utilizing GE Vernova's onshore wind turbine platforms [3]. Group 3: Infrastructure and Technology Collaboration - The agreement includes upgrades to existing infrastructure and collaboration on grid equipment initiatives, such as synchronous condenser technology deployments [4]. - Both companies will explore artificial intelligence applications and pursue joint research and development programs for grid modernization [5]. Group 4: Leadership Statements - Bob Frenzel, CEO of Xcel Energy, emphasized the importance of collaborating with organizations that bring innovation and expertise to meet sustainability and grid modernization goals [6]. - Scott Strazik, CEO of GE Vernova, stated that the alliance aligns technology roadmaps with Xcel Energy's long-term vision, allowing for improved energy solutions [7]. Group 5: Market Reaction - Following the announcement, GE Vernova shares increased by 2.06% to $770.53, reaching a new 52-week high [8].

Core Viewpoint - Xcel Energy (XEL) is expected to report its fourth-quarter 2025 results on February 5, with a consensus earnings per share (EPS) estimate of 97 cents, reflecting a year-over-year increase of 19.75% and revenues projected at $3.73 billion, indicating a 19.44% increase from the previous year [1][5][8]. Factors Impacting Earnings - The anticipated earnings growth for Xcel Energy is attributed to an increase in demand from its expanding electric and natural gas customer base, supported by investments in new service centers across Minnesota [2][8]. - Positive outcomes from regulatory proceedings, including authorization to defer incremental insurance costs related to wildfire risks and recovery of operations and maintenance costs associated with wildfire mitigation, are expected to contribute positively to earnings [3][8]. Cost Considerations - Despite the positive factors, rising operation and maintenance expenses, along with increased property taxes and interest expenses, are likely to offset some of the earnings gains in the fourth quarter [4][8]. Earnings Expectations - The Zacks Consensus Estimate for Xcel Energy's EPS is set at 97 cents, which represents a year-over-year increase of 19.75%, while the revenue estimate stands at $3.73 billion, reflecting a 19.44% increase from the previous year [5][8]. Earnings Prediction Model - The current earnings prediction model indicates that Xcel Energy does not have a strong likelihood of beating earnings expectations, as it has an Earnings ESP of -1.37% and a Zacks Rank of 3 (Hold) [6][7].

28 January 2026 | 9:13PM EST Equity Research AMERICAS US Power Pipeline: Total capacity additions reached 80% of GSe in 2025 with ~50 GW added The pace and sourcing of US power infrastructure is a front and center area of focus for investors given implications for the pace of AI deployment as a driver of our 2.6% CAGR in US power demand through 2030. In this note, we analyze the generation capacity data from the EIA to track currently planned and added capacity. We believe Parts/People availability are amon ...

The market expects Xcel Energy (XEL) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be release ...

Group 1: Institutional Investment Activity - Arkadios Wealth Advisors increased its position in Xcel Energy by 85.1% during Q3, owning 16,115 shares valued at $1,300,000 after acquiring an additional 7,409 shares [2] - ORG Partners LLC raised its position by 168.4% in Q3, now owning 314 shares worth $25,000 after acquiring 197 additional shares [3] - Clearstead Trust LLC grew its position by 202.2% in Q2, now holding 417 shares valued at $28,000 after purchasing 279 shares [3] - Salomon & Ludwin LLC increased its stake by 98.8% in Q3, owning 509 shares worth $41,000 after acquiring 253 shares [3] - Harel Insurance Investments & Financial Services Ltd. purchased a new stake valued at about $50,000 in Q3 [3] - Institutional investors collectively own 78.38% of Xcel Energy's stock [3] Group 2: Analyst Ratings and Price Targets - Royal Bank Of Canada reaffirmed an "outperform" rating with a target price of $95.00 [4] - Evercore ISI initiated coverage with an "outperform" rating and a target price of $92.00 [4] - Citigroup raised its price target from $80.00 to $92.00, maintaining a "buy" rating [4] - Mizuho set a price objective of $86.00 [4] - Weiss Ratings restated a "buy (b-)" rating [4] - The consensus rating for Xcel Energy is "Buy" with a target price of $87.53 [4] Group 3: Financial Performance - Xcel Energy reported Q3 earnings of $1.24 per share, missing the consensus estimate of $1.32 by $0.08 [6] - The company had revenue of $3.92 billion for the quarter, exceeding expectations of $3.89 billion, with a year-over-year revenue increase of 7.4% [6] - The return on equity was 10.45% and the net margin was 13.46% [6] Group 4: Stock and Dividend Information - Xcel Energy's stock opened at $75.01, with a market capitalization of $44.37 billion and a P/E ratio of 22.87 [5] - The company has a 52-week low of $65.21 and a high of $83.01 [5] - A quarterly dividend of $0.57 was declared, representing an annualized dividend of $2.28 and a yield of 3.0% [7] - The dividend payout ratio is currently 69.51% [7] Group 5: Company Overview - Xcel Energy is a Minneapolis-based utility holding company that operates regulated electricity and natural gas delivery systems [9] - The company engages in the generation, transmission, and distribution of electricity, as well as the delivery of natural gas [9] - Xcel Energy's generation portfolio includes nuclear, natural gas, coal, and a growing share of renewable resources such as wind and solar [10]