Xcel Energy Inc. · XEL · Next earnings

Xcel Energy Inc. reports Thursday, Oct 29, 2026

XEL reports before market open with consensus EPS at $1.35 and revenue at $4.24B. Last quarter: Xcel Energy Q1 2026: EPS Edges Estimates as Data Center Pipeline and Record Capex Drive Growth

Reports Before market open39 days awayDate estimated Utilities

What the street expects

Consensus for the coming report
Consensus EPS $1.35 Calendar consensus
Consensus revenue $4.24B Calendar consensus
Report date Oct 29, 2026 Thursday, date estimated
Session Before market open 39 days away

Where XEL left off: FY2026 Q1

Full report

Xcel Energy Q1 2026: EPS Edges Estimates as Data Center Pipeline and Record Capex Drive Growth

EPS surprise +0.3% Reported $0.91 vs $0.91
Revenue surprise -4.5% Reported $4.02B vs $4.21B
Stock move +5.2% Event window
Subsequent drift -4.2% Up to 20 sessions

Xcel Energy reaffirmed its 2026 EPS guidance range of $4.04 to $4.16, consistent with the prior quarter's reaffirmation. Management characterized the outlook as confident, with guidance sentiment maintained. No upward or downward revision was announced.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Weather-related demand volatility, as Colorado's warm winter reduced electric and gas sales in Q1.
  • Supply-chain and qualified-labor constraints for generation, transmission, and distribution projects.
  • Ongoing litigation and regulatory uncertainty, including the Prairie Island outage case, Marshall Wildfire proceedings, and multiple pending rate cases.
  • Potential structural lag in earned returns as rate-base growth is front-loaded relative to capex spending.
  • Execution risk associated with large-load and renewable project timelines.

Questions analysts left open

  • Timeline and likelihood of settlements in Colorado and Minnesota rate cases.
  • Financing structure for the $6 to $8 billion in incremental capex tied to data-center load.
  • Equity financing assumptions under the 40% rule and future equity issuance cadence.
  • Impact of MISO capacity auction results on long-term planning.
  • Progress on Sherco retirement and related transmission and generation replacements.

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Recent XEL quarters

All XEL earnings
+5.2%FY2026 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.