$XEL · XCEL ENERGY INC
Xcel Energy reported Q3 2026 GAAP diluted EPS of $1.52 on revenue of $4.172B, up from $0.88 EPS on $3.915B revenue in Q3 2025. The company narrowed its 2026 ongoing EPS guidance to $4.10–$4.16 and initiated 2027 guidance of $4.48–$4.62, implying ~9% growth at the midpoint.
- Q3 GAAP diluted EPS of $1.52 vs $0.88 in Q3 2025, driven by electric infrastructure recovery and equity method gains.
- Q3 ongoing EPS of $1.52 vs $1.24 in Q3 2025; year-to-date ongoing EPS of $3.37 vs $2.84.
- Q3 operating income nearly doubled to $1,191M from $749M, aided by Marshall Wildfire litigation dropping to $1M from $287M.
- 2026 ongoing EPS guidance narrowed to $4.10–$4.16; 2027 guidance initiated at $4.48–$4.62.
- Long-term EPS growth target of 6–8+% and dividend growth of 4–6% reaffirmed.
Extended-hours trading shows XEL at $77.53, up +0.45% vs the regular-session close of $77.18, suggesting a modestly positive initial reaction to the earnings beat and raised forward guidance.
Xcel delivered a 73% YoY GAAP EPS jump, raised forward guidance, and initiated above-consensus 2027 targets — all while the Marshall Wildfire litigation overhang receded to near-zero this quarter.
Xcel's results reflect the broader regulated-utility playbook: rate-base growth from clean generation and transmission investment, with AFUDC equity jumping to $131M from $79M YoY as construction activity accelerates.
Higher interest charges rose to $484M in Q3 2026 from $384M in Q3 2025, partially offsetting infrastructure recovery gains. Wildfire litigation risk remains, though Q3 charges were just $1M vs $287M last year.