Xcel Energy (NASDAQ: XEL) reported second-quarter 2026 earnings of $0.93 per share, an increase from $0.75 per share a year prior, driven by higher electric revenues and lower depreciation. The company reaffirmed its 2026 earnings guidance at $4.04 to $4.16 per share and expects an average EPS growth exceeding 9% through 2030, supported by a robust pipeline of investment opportunities.
During the quarter, Xcel invested $3 billion in infrastructure, bringing the year-to-date total to over $6 billion across its eight-state service territory. Key developments included the commercial operation of Group 2 of Colorado’s Power Pathway and the launch of a major transmission project in the Upper Midwest. Additionally, Xcel secured a commitment to provide 2,400 megawatts of renewable generation and 200 megawatts of natural gas generation, representing about $6 billion in potential investment.
Xcel noted a 2.1% rise in weather-adjusted electric sales year-to-date and anticipates a full-year increase of 3%. The company has addressed approximately $6 billion of its $7 billion equity need related to its five-year capital plan and plans to disclose an updated outlook in the third quarter. Furthermore, Xcel is advancing wildfire mitigation efforts in Colorado, installing AI-enabled cameras and weather stations to enhance safety amid adverse conditions.
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