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Xcel Energy Q1 Earnings Match Estimates, Revenues Miss, Both Up Y/Y
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Key Takeaways
Xcel Energy posted Q1 operating EPS of 91 cents in line with estimates; revenues were $4.02B.
EL's electric segment revenues rose 4.9% to $2.98B, while natural gas fell 2.4% to $1.03B
XEL reaffirmed 2026 EPS $4.04-$4.16 and plans $60B spend in 2026-2030 to add renewables, gas, storage.
Xcel Energy Inc. (XEL - Free Report) reported first-quarter 2026 operating earnings of 91 cents per share, which matched the Zacks Consensus Estimate. The bottom line also surpassed the year-ago quarter’s figure by 8.3%.
It reported GAAP earnings of 89 cents per share compared with 84 cents in the year-ago quarter.
Total Revenues of XEL
Revenues of $4.02 billion missed the Zacks Consensus Estimate of $4.22 billion by 4.8%. However, the figure increased 2.9% from the year-ago quarter’s $3.9 billion.
Xcel Energy Inc. Price, Consensus and EPS Surprise
Electric: This segment’s revenues totaled $2.98 billion, up 4.9% from $2.83 billion in the year-ago quarter.
Natural Gas: Revenues in this segment decreased 2.4% to $1.03 billion from $1.05 billion in the year-ago quarter.
Other: Revenues amounted to $15 million, down 6.3% from the prior-year quarter.
Highlights of XEL’s Earnings Release
Total operating expenses in the first quarter increased 1.2% year over year to $3.27 billion. The increase in operating expenses was due to the higher cost of natural gas sold and transported, and taxes other than income tax.
Operating income in the first quarter increased 11.4% year over year to $754 million.
Total interest charges and financing costs increased 20.4% from the prior-year quarter’s $309 million to $372 million.
In first-quarter 2026, Xcel Energy registered 0.7% growth in electric customer volume and a 0.8% increase in natural gas customer volume. During the quarter, natural gas sales volume improved 0.1% year over year, and electric sales volume increased 2.8%.
Courtesy of efficient management of services, Xcel Energy electric and natural gas residential bills are 29% and 11%, respectively, lower than the national average.
XEL’s Guidance
Xcel Energy reaffirms its 2026 earnings per share in the range of $4.04-$4.16. The Zacks Consensus Estimate is pegged at $4.11 per share, a tad higher than the midpoint of the company’s guided range.
XEL expects retail electric sales to increase 3% in 2026. Natural gas sales volumes are anticipated to increase 1% in 2026 from the year-ago level.
Xcel Energy expects long-term annual earnings per share growth of 6-8% and dividend growth of 4-6%.
The company plans to invest $60 billion in 2026-2030 to further strengthen its infrastructure. Xcel Energy plans to add 7,500 megawatts (“MW”) of renewable generation, 3,000 MW of natural gas generation and 1,900 MW of energy storage through the planned investment.
WEC Energy Group, Inc. (WEC - Free Report) is scheduled to report first-quarter results on May 5. The Zacks Consensus Estimate for earnings is pegged at $2.31 per share, which implies an increase of 1.76% year over year.
The consensus estimate for WEC’s first-quarter sales is pinned at $3.21 billion, which indicates year-over-year growth of 1.91%.
Exelon Corporation (EXC - Free Report) is scheduled to report first-quarter results on May 6. The Zacks Consensus Estimate for earnings is pegged at 89 cents per share, which implies a decline of 3.26% year over year.
The consensus estimate for EXC’s first-quarter sales is pinned at $6.91 billion, which indicates year-over-year growth of 2.93%.
Eversource Energy (ES - Free Report) is scheduled to report first-quarter results on May 6. The Zacks Consensus Estimate for earnings is pegged at $1.59 per share, which implies an increase of 6% year over year.
The consensus estimate for ES’ first-quarter sales is pinned at $4.21 billion, which indicates year-over-year growth of 2.31%.
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Xcel Energy Q1 Earnings Match Estimates, Revenues Miss, Both Up Y/Y
Key Takeaways
Xcel Energy Inc. (XEL - Free Report) reported first-quarter 2026 operating earnings of 91 cents per share, which matched the Zacks Consensus Estimate. The bottom line also surpassed the year-ago quarter’s figure by 8.3%.
It reported GAAP earnings of 89 cents per share compared with 84 cents in the year-ago quarter.
Total Revenues of XEL
Revenues of $4.02 billion missed the Zacks Consensus Estimate of $4.22 billion by 4.8%. However, the figure increased 2.9% from the year-ago quarter’s $3.9 billion.
Xcel Energy Inc. Price, Consensus and EPS Surprise
Xcel Energy Inc. price-consensus-eps-surprise-chart | Xcel Energy Inc. Quote
XEL’s Segmental Results
Electric: This segment’s revenues totaled $2.98 billion, up 4.9% from $2.83 billion in the year-ago quarter.
Natural Gas: Revenues in this segment decreased 2.4% to $1.03 billion from $1.05 billion in the year-ago quarter.
Other: Revenues amounted to $15 million, down 6.3% from the prior-year quarter.
Highlights of XEL’s Earnings Release
Total operating expenses in the first quarter increased 1.2% year over year to $3.27 billion. The increase in operating expenses was due to the higher cost of natural gas sold and transported, and taxes other than income tax.
Operating income in the first quarter increased 11.4% year over year to $754 million.
Total interest charges and financing costs increased 20.4% from the prior-year quarter’s $309 million to $372 million.
In first-quarter 2026, Xcel Energy registered 0.7% growth in electric customer volume and a 0.8% increase in natural gas customer volume. During the quarter, natural gas sales volume improved 0.1% year over year, and electric sales volume increased 2.8%.
Courtesy of efficient management of services, Xcel Energy electric and natural gas residential bills are 29% and 11%, respectively, lower than the national average.
XEL’s Guidance
Xcel Energy reaffirms its 2026 earnings per share in the range of $4.04-$4.16. The Zacks Consensus Estimate is pegged at $4.11 per share, a tad higher than the midpoint of the company’s guided range.
XEL expects retail electric sales to increase 3% in 2026. Natural gas sales volumes are anticipated to increase 1% in 2026 from the year-ago level.
Xcel Energy expects long-term annual earnings per share growth of 6-8% and dividend growth of 4-6%.
The company plans to invest $60 billion in 2026-2030 to further strengthen its infrastructure. Xcel Energy plans to add 7,500 megawatts (“MW”) of renewable generation, 3,000 MW of natural gas generation and 1,900 MW of energy storage through the planned investment.
XEL’s Zacks Rank
XEL currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
WEC Energy Group, Inc. (WEC - Free Report) is scheduled to report first-quarter results on May 5. The Zacks Consensus Estimate for earnings is pegged at $2.31 per share, which implies an increase of 1.76% year over year.
The consensus estimate for WEC’s first-quarter sales is pinned at $3.21 billion, which indicates year-over-year growth of 1.91%.
Exelon Corporation (EXC - Free Report) is scheduled to report first-quarter results on May 6. The Zacks Consensus Estimate for earnings is pegged at 89 cents per share, which implies a decline of 3.26% year over year.
The consensus estimate for EXC’s first-quarter sales is pinned at $6.91 billion, which indicates year-over-year growth of 2.93%.
Eversource Energy (ES - Free Report) is scheduled to report first-quarter results on May 6. The Zacks Consensus Estimate for earnings is pegged at $1.59 per share, which implies an increase of 6% year over year.
The consensus estimate for ES’ first-quarter sales is pinned at $4.21 billion, which indicates year-over-year growth of 2.31%.