Xcel Energy Inc. (XEL) reported second-quarter 2024 operating earnings of 54 cents per share, which lagged the Zacks Consensus Estimate of 55 cents by 1%. The bottom line increased 3.8% from the year-ago quarter's 52 cents. It reported GAAP earnings of 54 cents in the second quarter compared with 52 cents in the year-ago quarter. Total Revenues The company's revenues of $3.03 billion missed the Zacks Consensus Estimate of $3.28 billion by 7.8%. The figure improved 0.2% from the year-ago quarter's $3.02 bill ...

Financial Performance - Second quarter GAAP and ongoing diluted earnings per share were $0.54 in 2024, up from $0.52 in 2023, reflecting a 3.85% increase[1] - Xcel Energy reported second quarter earnings of $302 million, compared to $288 million in the same period in 2023, representing a 4.86% year-over-year growth[1] - The company reaffirmed its 2024 EPS guidance of $3.50 to $3.60 per share[1] - Operating income for the second quarter was $449 million, compared to $418 million in the same period last year, marking a 7.43% increase[5] - Xcel Energy's Q2 2024 GAAP and ongoing diluted earnings per share (EPS) increased to $0.54, up from $0.52 in Q2 2023, driven by higher recovery of infrastructure investments and warmer weather[13] - NSP-Minnesota's year-to-date earnings increased by $0.13 per share, primarily due to increased recovery of electric and natural gas infrastructure investments[14] - PSCo's year-to-date earnings rose by $0.05 per share, attributed to increased recovery of electric infrastructure investments[14] - SPS's Q2 earnings increased by $0.01 per share, supported by regulatory rate outcomes and increased sales, despite higher depreciation[14] - NSP-Wisconsin's Q2 earnings decreased by $0.01 per share, largely due to unfavorable weather and increased depreciation[14] - The estimated impact of temperature variations on EPS for Q2 2024 compared to normal weather conditions was an increase of $0.022[17] - Long-term annual EPS growth is targeted at 5% to 7%, based on a 2023 actual ongoing earnings base of $3.35 per share[67] Revenue and Sales - Total operating revenues for the second quarter were $3,028 million, slightly up from $3,022 million in 2023[5] - Electric operating revenues increased to $2,659 million in Q2 2024 from $2,601 million in Q2 2023, a growth of 2.23%[5] - Total retail electric sales for Xcel Energy showed a decline of 0.2% year-to-date, with residential sales decreasing by 1.9%[20] - Firm natural gas sales decreased by 10.9% year-to-date across Xcel Energy's operations[20] - Weather-normalized electric residential sales for Xcel Energy declined by 0.9% year-to-date, with variations across different regions[22] - Electric revenues decreased by $20 million year-to-date, impacted by lower costs of electric fuel and purchased power, which decreased by $344 million[25][24] - Natural gas revenues decreased by $385 million year-to-date, primarily due to lower commodity prices and volumes[24] Operating Expenses - Total operating expenses decreased to $2,579 million in Q2 2024 from $2,604 million in Q2 2023, a reduction of 0.96%[5] - Interest charges increased to $303 million in Q2 2024 from $256 million in Q2 2023, reflecting an 18.38% rise[5] - O&M expenses increased by $34 million for the second quarter but decreased by $11 million year-to-date, attributed to lower labor costs and a land sale gain[26] - Depreciation and amortization increased by $172 million year-to-date, mainly due to system expansion and recognition of previously deferred costs[26] - Interest charges rose by $89 million year-to-date, largely due to increased debt levels and higher interest rates[27] Capital and Investments - Xcel Energy's total debt increased to $29.372 billion, representing 62% of total capitalization as of June 30, 2024[30] - Xcel Energy issued approximately $93 million of equity through its at-the-market program through June 2024[34] - Total capital investments for the wildfire mitigation plan are estimated at $1.602 billion, with O&M expenses projected at $253 million[46] - The CPUC approved PSCo's Clean Heat Plan with a budget of $441 million through 2027, focusing on electrification and efficiency programs[47] - SPS's initial Integrated Resource Plan (IRP) projected resource needs of approximately 5,300 MW to 10,200 MW by 2030, accepted by the NMPRC in February 2024[48] Regulatory and Rate Changes - NSP-Minnesota filed for a natural gas rate increase of approximately $59 million (9.6%) in November 2023, with an interim rate of $51 million approved[36] - NSP-Minnesota also requested an increase of $8.5 million (9.4%) in North Dakota, with interim rates of $8 million approved[37] - NSP-Minnesota proposed a refund of $126 million for fuel over-recoveries in 2023, with a recommendation from the Department of Commerce for a $20 million refund for replacement power costs[38] - A customer refund of $34 million related to Sherco Unit 3 outage costs was recommended by the Administrative Law Judge, with a final decision expected in late 2024[39] - NSP-Wisconsin filed a 2025 stay-out proposal to offset $28 million in electric revenue deficiency and $3 million in natural gas revenue deficiency, expecting a Commission decision by year-end 2024[40] - PSCo requested a retail natural gas rate increase of $171 million (9.5%) based on a 10.25% ROE and a $4.2 billion retail rate base, with a proposed effective date of November 1, 2024[41] Weather Impact - The company anticipates continued recovery of infrastructure investments to support future earnings growth despite challenges from higher depreciation and interest charges[15] - Natural gas sales growth was driven by a 1.1% increase in residential customers and a 0.6% increase in C&I customers year-to-date[23] - Weather-normalized retail electric sales are expected to increase by 1%, while retail firm natural gas sales are projected to remain flat[65] - The Marshall Fire is estimated to have caused over $2 billion in property losses, with PSCo disputing its power lines' involvement in the fire's ignition[56] - SPS has accrued a $215 million estimated loss related to the Smokehouse Creek Fire Complex, reflecting potential liabilities from ongoing litigation[52]

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights. Analysts expect 'Operating revenues- Other' to come in at $52.37 million. The estimate points to a change of +87% from the year-ago quarter. Wall Street analysts forecast that Xcel Energy (XEL) will report quarterly earnings of $0.50 per share in its upcoming release, pointing to a ...

Xcel Energy (XEL) is scheduled to release second-quarter 2024 earnings on Aug 1, before market open. The company delivered an earnings surprise of 10% in the last reported quarter. The Zacks Consensus Estimate for second-quarter earnings is pegged at 49 cents per share on revenues of $3.23 billion. Per our proven model, stocks with a combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) are likely to beat on earnings. At present, Xcel Energy has an Earnings ESP of +6.1 ...

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. Estimate Revisions Trend Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP ...

Xcel Energy Inc. (NASDAQ:XEL) Q1 2024 Results Conference Call April 25, 2024 10:00 AM ET Company Participants Paul Johnson - VP, IR and Treasurer Bob Frenzel - President, CEO and Chairman Brian Van Abel - EVP and CFO Conference Call Participants Nick Campanella - Barclays Steve Fleishman - Wolfe Research Jeremy Tonet - JPMorgan Carly Davenport - Goldman Sachs Anthony Crowdell - Mizuho Sophie Karp - KeyBanc Ryan Livine - Citi Paul Patterson - Glenrock Associates Operator Hello, and welcome to Xcel Energy Fir ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-3034 Xcel Energy Inc. (Exact Name of Registrant as Specified in its Charter) Minnesota 41-0448030 (I.R.S. Employer Identificati ...

Exhibit 99.01 414 Nicollet Mall 4/25/2024 Minneapolis, MN 55401 XCEL ENERGY FIRST QUARTER 2024 EARNINGS REPORT MINNEAPOLIS — Xcel Energy Inc. (NASDAQ: XEL) today reported 2024 first quarter GAAP and ongoing earnings of $488 million, or $0.88 per share, compared with $418 million, or $0.76 per share in the same period in 2023. First quarter ongoing earnings results reflect increased recovery of infrastructure investments and lower O&M expenses, partially offset by increased interest charges and depreciation. ...

1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ 001-3034 (Commission File Number) Xcel Energy Inc. (Exact name of registrant as specified in its charter) Minnesota 41-0448030 (State or Other Jur ...

Xcel Energy Inc. (NASDAQ:XEL) Q3 2023 Earnings Conference Call January 25, 2024 10:00 AM ET Company Participants Paul Johnson - Vice President, Treasurer & Investor Relations Bob Frenzel - Chairman, President & Chief Executive Officer Brian Van Abel - Executive Vice President & Chief Financial Officer Conference Call Participants Julien Dumoulin-Smith - Bank of America Durgesh Chopra - Evercore ISI Steven Fleishman - Wolfe Research Anthony Crowdell - Mizuho Carly Davenport - Goldman Sachs Sophie Karp - KeyB ...