Xcel Energy Q2 2026: EPS up 24.0% to $0.93, revenue down 5.1%
Xcel Energy beat the $0.79 consensus by $0.14 with $0.93 of quarterly EPS, up 24.0% from a year ago, and reaffirmed full-year ongoing guidance of $4.04 to $4.16. The catch is where the profit came from: cheaper fuel, more construction financing credits and lighter depreciation — not revenue, which fell 5.1%. Read the segments and the balance sheet before celebrating.
1 · Expected vs. Actual
Free preview belowDiluted GAAP and ongoing EPS were both $0.93, up from $0.75, a 24.0% increase. There were no adjustments in the quarter, so ongoing and GAAP earnings are identical — a clean quarter with no accounting cosmetics. The $0.93 also beat the $0.7892 consensus estimate by about $0.14.
Revenue fell 5.1% to $3.119 billion from $3.287 billion, with electric at $2.740 billion, natural gas at $365 million and other at $14 million. Most of the drop is pass-through: recovery of lower cost electric fuel and purchased power subtracted $202 million from electric revenue. Xcel says these fuel swings generally do not move earnings, so the revenue line is a weak signal here.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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