Xcel Energy said its GAAP and ongoing diluted earnings per share for Q1 2024 were $0.88, up from $0.76 a year earlier. The company cited increased recovery of infrastructure investments, higher AFUDC and lower O&M expenses as the drivers, partly offset by higher interest charges and depreciation.

10-QQuarterly reportFiled Apr 25, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

Xcel Energy said its GAAP and ongoing diluted earnings per share for Q1 2024 were $0.88, up from $0.76 a year earlier. The company cited increased recovery of infrastructure investments, higher AFUDC and lower O&M expenses as the drivers, partly offset by higher interest charges and depreciation.
The company said electric revenues decreased $78 million and natural gas revenues decreased $347 million in Q1. Electric fuel and purchased power expenses fell $169 million, and cost of natural gas sold and transported fell $361 million. It said these cost changes are generally offset in revenue.
The company said net cash provided by operating activities for the 3 months ended March 31, 2024 decreased $487 million from a year earlier. It said net cash used in investing activities was $272 million, and net cash provided by financing activities increased $1,128 million.
The company said the black box settlement in SPS’ 2023 Texas electric rate case included an ROE of 9.55%, an equity ratio of 54.51% and a WACC of 7.11%. The PUCT unanimously approved the settlement without modification on April 11, 2024. The settlement also reflects in rates the retirement of the Tolk Generation Station, moving the timing from 2034 to 2028.

Key figures

Quarter ended March 31, 2024

Operating income: $679M
Net income: $488M
EPS: $0.88
Operating cash flow: $1.1B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Xcel Energy Reports Q1 GAAP and Ongoing Diluted EPS of $0.88

Xcel Energy said its GAAP and ongoing diluted earnings per share for Q1 2024 were $0.88, up from $0.76 a year earlier. The company cited increased recovery of infrastructure investments, higher AFUDC and lower O&M expenses as the drivers, partly offset by higher interest charges and depreciation.

Source · Based on the MD&A text of the filing

Q1 Electric and Gas Revenues Fall as Fuel and Gas Costs Decline

The company said electric revenues decreased $78 million and natural gas revenues decreased $347 million in Q1. Electric fuel and purchased power expenses fell $169 million, and cost of natural gas sold and transported fell $361 million. It said these cost changes are generally offset in revenue.

Source · Based on the MD&A text of the filing

Q1 Operating, Investing and Financing Cash Flows Change

The company said net cash provided by operating activities for the 3 months ended March 31, 2024 decreased $487 million from a year earlier. It said net cash used in investing activities was $272 million, and net cash provided by financing activities increased $1,128 million.

Source · Based on the MD&A text of the filing

PUCT Approves SPS Texas Electric Rate Settlement

The company said the black box settlement in SPS’ 2023 Texas electric rate case included an ROE of 9.55%, an equity ratio of 54.51% and a WACC of 7.11%. The PUCT unanimously approved the settlement without modification on April 11, 2024. The settlement also reflects in rates the retirement of the Tolk Generation Station, moving the timing from 2034 to 2028.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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