Xcel Energy Reports Strong Q1 2026 Earnings with Increased EPS Guidance
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 30 2026
0mins
Should l Buy XEL?
Source: Newsfilter
Xcel Energy's stock rose by 5.01% as it reached a 5-day high, reflecting positive investor sentiment following its earnings report.
In Q1 2026, Xcel Energy reported a GAAP earnings per share of $0.89, a 5.95% increase from the previous year, and reaffirmed its earnings guidance for 2026 at $4.04 to $4.16 per share. The company also announced a strategic partnership with Google for a data center, expected to yield approximately $1.1 billion in benefits for customers, showcasing its commitment to sustainability.
The strong earnings performance and positive outlook indicate that Xcel Energy is well-positioned for future growth, despite challenges in revenue growth. The partnership with Google further enhances its market position in the energy sector.
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Analyst Views on XEL
Wall Street analysts forecast XEL stock price to rise
12 Analyst Rating
10 Buy
2 Hold
0 Sell
Strong Buy
Current: 80.430
Low
81.00
Averages
88.08
High
95.00
Current: 80.430
Low
81.00
Averages
88.08
High
95.00
About XEL
Xcel Energy Inc. is an electric and natural gas delivery company. The Company provides a comprehensive portfolio of energy-related products and services to approximately 3.9 million electric customers and 2.2 million natural gas customers through four utility subsidiaries, NSP-Minnesota, NSP-Wisconsin, PSCo and SPS. The Company operates through two segments. Its regulated electric utility segment generates, purchases, transmits, distributes and sells electricity in Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. In addition, this segment includes sales for resale and provides wholesale transmission service to various entities in the United States. The regulated electric utility segment also includes wholesale commodity and trading operations. Its regulated natural gas utility segment purchases, transports, stores, distributes and sells natural gas primarily in portions of Colorado, Michigan, Minnesota, North Dakota and Wisconsin.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Xcel Energy Reports Strong Q1 2026 Earnings with Increased EPS Guidance
- Earnings Growth: In Q1 2026, Xcel Energy reported GAAP earnings per share of $0.89, a 5.95% increase from $0.84 in 2025, reflecting strong performance in electric infrastructure investment recovery and sales growth.
- Sustained Profitability: Ongoing earnings per share reached $0.91, up 8.33% from $0.84 in 2025, demonstrating the company's success in recovering electric sales growth despite rising financing costs and increased depreciation expenses.
- Outlook Reaffirmation: Xcel Energy reaffirmed its ongoing earnings guidance for 2026 at $4.04 to $4.16 per share, indicating confidence in future profitability with projected retail electric and natural gas sales growth of approximately 3% and 1%, respectively.
- Strategic Partnership: The agreement with Google for a data center in the Upper Midwest enhances community development and investment, expected to yield approximately $1.1 billion in benefits for customers, showcasing the company's commitment to sustainability and resource conservation.
See More
Xcel Energy Releases 2026 Earnings Guidance with Q1 Results
- Q1 Performance: Xcel Energy reported a Q1 non-GAAP EPS of $0.91, meeting expectations, but revenue of $4.02 billion, up 2.8% year-over-year, missed by $90 million, indicating challenges in revenue growth.
- 2026 Earnings Guidance: The company projects ongoing earnings per share for 2026 to be in the range of $4.04 to $4.16, slightly below the consensus of $4.11, reflecting a cautious outlook on future profitability.
- Sales Forecast: Weather-normalized retail electric sales are expected to increase by approximately 3%, while natural gas sales are projected to rise by about 1%, indicating moderate growth under stable weather conditions.
- Cost and Expense Projections: Operating and maintenance expenses are anticipated to rise by around 3%, with depreciation expenses expected to increase by $330 million to $340 million, and interest expenses projected to rise by $270 million to $280 million, which may pressure future profitability.
See More
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- Revenue Expectations: The anticipated Q1 revenue stands at $4.11 billion, representing a 5.1% year-over-year increase; however, the company has only beaten EPS estimates 13% of the time over the past two years, highlighting revenue growth challenges.
- Estimate Revision Trends: Over the last three months, EPS estimates have seen one upward revision and six downward adjustments, while revenue estimates have experienced no upward revisions and two downward changes, reflecting market caution regarding the company's future performance.
- Data Center Power Supply: Xcel Energy is set to power a new Google data center in Minnesota, indicating its critical role in the rapidly growing data center market, which may support future revenue growth.
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- Oil Price Volatility: Following President Trump's announcement of a full naval blockade of the Strait of Hormuz, WTI crude prices rose over 2%, although still below early highs, which could exacerbate global oil and fuel shortages, impacting related industry stock performance.
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Xcel Energy Reports Strong Q1 2026 Earnings with Increased EPS Guidance
- Earnings Growth: In Q1 2026, Xcel Energy reported GAAP earnings per share of $0.89, a 5.95% increase from $0.84 in 2025, reflecting strong performance in electric infrastructure investment recovery and sales growth.
- Sustained Profitability: Ongoing earnings per share reached $0.91, up 8.33% from $0.84 in 2025, demonstrating the company's success in recovering electric sales growth despite rising financing costs and increased depreciation expenses.
- Outlook Reaffirmation: Xcel Energy reaffirmed its ongoing earnings guidance for 2026 at $4.04 to $4.16 per share, indicating confidence in future profitability with projected retail electric and natural gas sales growth of approximately 3% and 1%, respectively.
- Strategic Partnership: The agreement with Google for a data center in the Upper Midwest enhances community development and investment, expected to yield approximately $1.1 billion in benefits for customers, showcasing the company's commitment to sustainability and resource conservation.
See More
Xcel Energy Releases 2026 Earnings Guidance with Q1 Results
- Q1 Performance: Xcel Energy reported a Q1 non-GAAP EPS of $0.91, meeting expectations, but revenue of $4.02 billion, up 2.8% year-over-year, missed by $90 million, indicating challenges in revenue growth.
- 2026 Earnings Guidance: The company projects ongoing earnings per share for 2026 to be in the range of $4.04 to $4.16, slightly below the consensus of $4.11, reflecting a cautious outlook on future profitability.
- Sales Forecast: Weather-normalized retail electric sales are expected to increase by approximately 3%, while natural gas sales are projected to rise by about 1%, indicating moderate growth under stable weather conditions.
- Cost and Expense Projections: Operating and maintenance expenses are anticipated to rise by around 3%, with depreciation expenses expected to increase by $330 million to $340 million, and interest expenses projected to rise by $270 million to $280 million, which may pressure future profitability.
See More
Xcel Energy Set to Announce Q1 Earnings on April 30
- Earnings Announcement: Xcel Energy is set to release its Q1 earnings on April 30 before market open, with a consensus EPS estimate of $0.91, reflecting an 8.3% year-over-year growth, indicating stable profitability.
- Revenue Expectations: The anticipated Q1 revenue stands at $4.11 billion, representing a 5.1% year-over-year increase; however, the company has only beaten EPS estimates 13% of the time over the past two years, highlighting revenue growth challenges.
- Estimate Revision Trends: Over the last three months, EPS estimates have seen one upward revision and six downward adjustments, while revenue estimates have experienced no upward revisions and two downward changes, reflecting market caution regarding the company's future performance.
- Data Center Power Supply: Xcel Energy is set to power a new Google data center in Minnesota, indicating its critical role in the rapidly growing data center market, which may support future revenue growth.
See More
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- Market Volatility Strategy: Bank of America highlights that in the face of market volatility and stagflation risks, investors should focus on sustainable high-yield stocks to protect their portfolios, especially as the S&P 500 reaches an all-time high.
- Sustainable Dividend Yields: With the S&P 500's dividend yield at only 1.1%, Bank of America advises investors to seek stocks with above-market but not overstretched dividend yields to achieve better returns, particularly in the current interest rate environment.
- PepsiCo's Strong Performance: PepsiCo reported first-quarter adjusted earnings of $1.61 per share, exceeding market expectations, and its North American food business saw volume growth for the first time in two years, demonstrating the company's adaptability following price adjustments.
- Citizens Financial's Positive Outlook: Citizens Financial reported first-quarter earnings of $1.13 per share, surpassing expectations, and forecasts net interest income growth of 3% to 4%, indicating resilience and growth potential for the regional bank in the current economic climate.
See More
U.S. Stocks Close Higher, Led by Tech Sector Gains
- Tech Sector Rally: Oracle's stock surged over 12%, leading a rebound in software stocks that propelled the overall market higher, indicating investor confidence in the tech sector's recovery, which may attract more capital inflows into this area.
- Economic Data Impact: U.S. March existing home sales fell 3.6% month-over-month to a 9-month low of 3.98 million, below the expected 4.05 million, and this weak data could influence the Fed's monetary policy decisions, increasing market expectations for rate cuts.
- Oil Price Volatility: Following President Trump's announcement of a full naval blockade of the Strait of Hormuz, WTI crude prices rose over 2%, although still below early highs, which could exacerbate global oil and fuel shortages, impacting related industry stock performance.
- Upcoming Earnings Season: Q1 earnings for the S&P 500 are projected to climb 12% year-over-year, but excluding the tech sector, earnings growth is only expected to be around 3%, the weakest in two years, reflecting market caution regarding profit growth.
See More
Three Utility Stocks Offering Robust Dividends and Potential for Growth
Investor Trends Amidst Geopolitical Tensions: As the war in Iran escalates, investors are seeking safe havens beyond traditional oil and gas sectors, with precious metals like gold and silver remaining popular, while bonds are experiencing rising rates that lead to dropping prices.
Focus on Utility Sector for Stability: The utility sector is highlighted as a potential area for investment due to its steady revenue streams and generous dividend yields, making it attractive during volatile market conditions.
NextEra Energy's Strong Performance: NextEra Energy combines stable income generation with growth potential, operating the largest regulated utility in the U.S. and holding a significant portfolio of renewable energy assets, which has led to substantial revenue growth.
WEC Energy Group's Resilience: WEC Energy Group has a long history of paying dividends and has maintained strong performance during market fluctuations, serving millions of customers and consistently raising dividend payouts, making it a solid investment choice.
See More
