Xcel Energy grew first quarter 2026 ongoing EPS by 8% and reaffirmed its full-year outlook despite weather headwinds.

Xcel Energy reported first quarter 2026 revenues of $4.02 billion, with GAAP EPS rising to $0.89 from $0.84 a year ago. Ongoing EPS for the quarter was $0.91, up from $0.84 in the prior-year period, reflecting growth in electric sales and infrastructure investment recovery.

Key Highlights

• The company reaffirmed its full-year 2026 ongoing EPS guidance range of $4.04 to $4.16 per share.
• Unseasonably warm weather created a significant headwind, negatively impacting EPS by an estimated $0.10 compared to the prior year.
• Weather-normalized electric sales for commercial and industrial (C&I) customers increased by 4.3%, driven by higher use per customer in the SPS and NSP-Minnesota regions.
• The company announced a new electric service agreement to power a Google data center in Minnesota, which is expected to provide approximately $1.1 billion in customer benefits if approved.