Xcel Energy Inc.
XEL Utilities Utilities Regulated Electric
Xcel Energy Inc.’s revenue for fiscal 2025 (year ended December 2025) was $14.7 billion, up 9.14% from fiscal 2024. In the quarter to June 2026, revenue fell 5.11%, EPS grew 23.7%, free cash flow fell 37.3% and total debt rose 22.7%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; dividend growth for ten consecutive years.
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Xcel Energy Inc. 10-Q filed Jul 30, 2026
Red flags
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Share dilution
Shares outstanding rose 5.6% in a year, to 624.6 million
What changed
Part I, Item 2, Management’s Discussion and Analysis, against the 10-Q filed Apr 30, 2026: 30 added · 42 removed · 40 modified; 14 with only figures updated
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Modified · Earnings Adjusted for Certain Items (Ongoing Earnings and Ongoing Diluted EPS)
Prairie Island Outage Refunds — In March 2026, the ALJ recommended a disallowance of $41 million for estimated replacement power costs incurred during a 2023-2024 outage at NSP-Minnesota’s Prairie Island nuclear facility.
AThe MPUC ordered the ALJ-recommended disallowance in May 2026. Total non-recurringchargecharges of $3738 millionwaswere recorded to electric revenuesinduring thefirst quarter ofsix months ended June 30, 2026 for incremental customer refunds, including interest.
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