Xcel Energy said it reached agreements in principle with Qwest Corporation and Teleport Communications America, LLC to resolve all claims asserted by subrogation insurers, public entity plaintiffs and individual plaintiffs on September 23, 2025.

1. 01

   Xcel Energy said it reached agreements in principle with Qwest Corporation and Teleport Communications America, LLC to resolve all claims asserted by subrogation insurers, public entity plaintiffs and individual plaintiffs on September 23, 2025.

2. 02

   The company said its subsidiary PSCo expects to pay approximately $640 million related to the settlements, of which approximately $350 million will be funded by remaining insurance coverage, with none borne by customers.

3. 03

   The company said it expects PSCo to recognize a charge to earnings of approximately $290 million in the quarter ended September 30, 2025. It said the charge is non-recurring and will be an adjustment to net income in determining ongoing earnings for 2025.

4. 04

   The company said the agreements remain subject to final documentation and individual plaintiffs opting in, and that it did not admit any fault. It also reaffirmed its 2025 ongoing EPS guidance of $3.75 to $3.85 per share.

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