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Mar 31, 2025
Xcel Energy Q1 2025 Earnings Report
Xcel Energy reported Q1 2025 results with a slight year-over-year decline in earnings driven by increased costs.
Key Takeaways
Xcel Energy's Q1 2025 performance saw earnings dip slightly due to higher operational, depreciation, and interest expenses, despite revenue growth and increased recovery of infrastructure investments.
GAAP and non-GAAP EPS came in at $0.84, down from $0.88 in Q1 2024.
Revenue increased to $3.91 billion, up from $3.65 billion last year.
Net income declined slightly to $483 million from $488 million in Q1 2024.
The company reaffirmed full-year 2025 EPS guidance of $3.75 to $3.85.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Xcel Energy reaffirmed its 2025 EPS guidance, projecting consistent earnings growth supported by infrastructure investments and operational improvements.
Positive Outlook
- 2025 EPS guidance reaffirmed at $3.75–$3.85
- Weather-normalized retail electric sales projected to grow ~3%
- Ongoing investments in resilience and clean energy transition
- AFUDC equity projected to increase $110M–$120M
- Capital rider revenue projected to increase $200M–$210M
Challenges Ahead
- O&M expenses expected to increase ~3%
- Depreciation expense projected to rise $210M–$220M
- Interest expense expected to increase $165M–$175M
- Property taxes forecasted to rise $45M–$55M
- Exposure to wildfire litigation and potential liabilities remains
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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