Xcel Energy has reported 2025 GAAP diluted earnings of $2.02 billion, or $3.42 per share, compared with $1.94 billion, or $3.44 per share in the same period in 2024 and ongoing earnings of $2.24 billion, or $3.80 per share, compared with $1.97 billion, or $3.50 per share in the same period in 2024.
The change in ongoing earnings reflects increased recovery of infrastructure investments and electric sales growth, partially offset by higher interest, depreciation, and operating and maintenance expenses.
“In 2025, Xcel Energy delivered on our earnings guidance for the 21st year in a row - one of the best track records in the industry. We placed in service critical infrastructure to serve our customers, including Phase 2 of our Sherco Solar facility, the conversion of our Harrington coal plant to natural gas, and the first two segments of our Colorado Power Pathway. All the while, our customers continue to have some of the lowest energy bills in the country,” according to Bob Frenzel, Chairman, President and CEO of Xcel Energy.
“As we look forward into 2026, we recently announced another large data center customer. We also announced two strategic alliances with industry-leading development and supply chain partners to help ensure we have the right resources to deliver critical system investments affordably, accelerate data center development for the benefit of all our customers, and drive innovation. We are excited for the future and to make energy work better for our customers and communities.”
