The company said its second-quarter GAAP and ongoing diluted earnings were $0.54 per share, higher than the $0.52 in the same period of 2023. It cited increased recovery of infrastructure investments and warmer-than-normal weather as the main drivers, partly offset by higher depreciation, interest charges and O&M expenses.

10-QQuarterly reportFiled Aug 1, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said its second-quarter GAAP and ongoing diluted earnings were $0.54 per share, higher than the $0.52 in the same period of 2023. It cited increased recovery of infrastructure investments and warmer-than-normal weather as the main drivers, partly offset by higher depreciation, interest charges and O&M expenses.
The company said depreciation and amortization rose $138 million, interest charges rose $51 million, and O&M expenses rose $34 million in Q2, while AFUDC increased $24 million. It cited higher debt levels and higher interest rates as the reasons for the increase in interest charges.
The company said net cash provided by operating activities for the 6 months ended June 30, 2024 decreased $215 million from a year earlier, net cash used in investing activities increased $764 million, and net cash from financing activities increased $2,284 million. It cited the refund of Minnesota interim rates and the timing of recovery of deferred fuel costs as factors in the decline in operating cash flow.
Xcel Energy said PSCo requested a $171 million increase in Colorado retail natural gas rates January 2024, or 9.5%, with the CPUC. It said PSCo filed an Updated Wildfire Mitigation Plan with the CPUC in June 2024 seeking cost recovery for 2025 to 2027. The company put the estimated total cost of the plan at approximately $1.9 billion.

Key figures

Quarter ended June 30, 2024

Operating income: $449M
Net income: $302M
EPS: $0.54

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.

Q2 GAAP and ongoing diluted EPS $0.54

The company said its second-quarter GAAP and ongoing diluted earnings were $0.54 per share, higher than the $0.52 in the same period of 2023. It cited increased recovery of infrastructure investments and warmer-than-normal weather as the main drivers, partly offset by higher depreciation, interest charges and O&M expenses.

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

Q2 and Year-to-Date Changes in Expenses

The company said depreciation and amortization rose $138 million, interest charges rose $51 million, and O&M expenses rose $34 million in Q2, while AFUDC increased $24 million. It cited higher debt levels and higher interest rates as the reasons for the increase in interest charges.

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

Changes in 6-Month Operating, Investing and Financing Cash Flows

The company said net cash provided by operating activities for the 6 months ended June 30, 2024 decreased $215 million from a year earlier, net cash used in investing activities increased $764 million, and net cash from financing activities increased $2,284 million. It cited the refund of Minnesota interim rates and the timing of recovery of deferred fuel costs as factors in the decline in operating cash flow.

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

Colorado Gas Rates and Wildfire Mitigation Plan

Xcel Energy said PSCo requested a $171 million increase in Colorado retail natural gas rates January 2024, or 9.5%, with the CPUC. It said PSCo filed an Updated Wildfire Mitigation Plan with the CPUC in June 2024 seeking cost recovery for 2025 to 2027. The company put the estimated total cost of the plan at approximately $1.9 billion.

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.

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