Xcel Energy(US:XEL)2025-10-30 18:09Financial Performance - Total operating revenues for Q3 2025 reached $3,915 million, a 7.4% increase from $3,644 million in Q3 2024[17] - Net income for Q3 2025 was $524 million, down 23.2% from $682 million in Q3 2024[19] - Earnings per share (EPS) for Q3 2025 was $0.88, a decrease of 27.3% compared to $1.21 in Q3 2024[17] - Operating income for the nine months ended September 30, 2025, was $2,003 million, slightly down from $2,039 million in the same period of 2024[17] - Total comprehensive income for the nine months ended September 30, 2025, was $1,454 million, compared to $1,500 million in the same period of 2024[19] - Net income for the nine months ended September 30, 2025, was $1,451 million, a slight decrease from $1,472 million in the same period of 2024[21] - The total segment net income for the nine months ended September 30, 2025, was $1,564 million, compared to $1,588 million for the same period in 2024, showing a slight decrease of about 1.5%[165] Revenue Breakdown - Electric operating revenues increased to $3,638 million in Q3 2025, compared to $3,393 million in Q3 2024, reflecting a 7.2% growth[17] - Natural gas revenues for Q3 2025 were $264 million, up from $239 million in Q3 2024, marking a 10.5% increase[17] - The total retail revenue from contracts with customers for the nine months ended September 30, 2025, was $9,264 million, compared to $8,528 million in 2024, indicating a growth of approximately 8.6%[53] - The total revenues from contracts with customers for the three months ended September 30, 2025, were $3,734 million, compared to $3,638 million in 2024, reflecting an increase of approximately 2.6%[54] Operating Expenses - Total operating expenses for Q3 2025 were $3,166 million, an increase of 15.8% from $2,733 million in Q3 2024[17] - Operating expenses for the three months ended September 30, 2025, included $1,098 million for electric fuel and purchased power, which remained consistent with the previous year's $1,060 million[163] - For the nine months ended September 30, 2025, the cost of natural gas sold and transported was $708 million, an increase from $664 million in the same period of 2024, indicating a rise of about 6.6%[165] Capital Expenditures and Investments - Capital expenditures for the nine months ended September 30, 2025, were $7,470 million, an increase from $5,147 million in 2024, representing a rise of approximately 45.0%[21] - The nuclear decommissioning fund and other investments grew to $4.273 billion as of September 30, 2025, up from $3.896 billion at December 31, 2024, an increase of about 9.7%[23] Debt and Financing - Long-term debt rose to $32,034 million as of September 30, 2025, compared to $27,316 million at the end of 2024, marking an increase of approximately 17.0%[23] - The company reported a net cash provided by financing activities of $4,491 million, compared to $2,636 million in the previous year, indicating a significant increase of approximately 70.5%[21] - Xcel Energy's short-term debt outstanding was $1,330 million as of September 30, 2025, compared to $695 million as of December 31, 2024, with a weighted average interest rate of 4.38%[36] - The company issued $900 million of 6.25% Junior Subordinated Notes due October 15, 2085 in October 2025[46] Shareholder Information - The company declared dividends of $1.71 per share for the nine months ended September 30, 2025, compared to $1.64 per share in the same period of 2024[26] - The weighted average common shares outstanding for Q3 2025 were 592 million, up from 564 million in Q3 2024[17] - The company issued 16.4 million shares under its ATM program in the nine months ended September 30, 2025, generating $1.16 billion in net proceeds[42] Assets and Liabilities - Total assets increased to $79,154 million as of September 30, 2025, up from $70,035 million at the end of 2024, indicating a growth of about 13.0%[23] - Total current liabilities increased to $7.148 billion as of September 30, 2025, from $6.459 billion at December 31, 2024, reflecting a growth of approximately 10.7%[23] - Common stockholders' equity reached $21.181 billion as of September 30, 2025, up from $19.522 billion at December 31, 2024, indicating an increase of about 8.5%[23] Litigation and Settlements - The company expects to pay approximately $640 million related to settlements from the Marshall Wildfire litigation, with $287 million recognized as a charge to earnings for the quarter ended September 30, 2025[108] - As of September 30, 2025, a remaining estimated liability of $640 million is presented in other current liabilities, with no estimated liability recognized as of December 31, 2024[109] - The cumulative estimated probable losses for the Smokehouse Creek Fire Complex amount to $410 million, reflecting a $120 million increase from previous estimates due to actual settlement activity[119] Regulatory and Compliance - Xcel Energy is currently evaluating the impact of the new disaggregation of income statement expenses guidance effective after December 15, 2026[37] - The company is involved in various litigation matters, with management maintaining accruals for losses that are probable and subject to reasonable estimation[99] - Xcel Energy's operating subsidiaries are involved in regulatory proceedings, with amounts recognized for probable and reasonably estimable losses that may result from these proceedings[124]