Xcel Energy said its third-quarter diluted GAAP and ongoing diluted EPS were $1.52 per share for Q3 2026, compared with GAAP EPS of $0.88 and ongoing EPS of $1.24 in 2025. The company cited higher recovery of electric infrastructure investments, earnings from equity method investments and unseasonably warm weather as drivers of the change in ongoing EPS, partially offset by higher financing costs.

1. 01

   Xcel Energy said its third-quarter diluted GAAP and ongoing diluted EPS were $1.52 per share for Q3 2026, compared with GAAP EPS of $0.88 and ongoing EPS of $1.24 in 2025. The company cited higher recovery of electric infrastructure investments, earnings from equity method investments and unseasonably warm weather as drivers of the change in ongoing EPS, partially offset by higher financing costs.

2. 02

   Xcel Energy said operating cash flow for the 9 months ended September 30, 2026 rose $994 million from a year earlier, while net cash used in investing activities was $1,735 million and net cash provided by financing activities increased $2,077 million. The company attributed the higher operating cash flow to higher net income and insurance recoveries related to the Marshall Wildfire and Smokehouse Creek Fire Complex settlements.

3. 03

   The company said it issued 10.5 million shares in Q3 2026 through settlement of forward sale agreements or at-the-market sales, for net proceeds of $819 million. It entered into forward sale agreements for 62.1 million shares over 9 months, with a minimum expected amount of $4.1 billion. As of September 30, 2026, 79.4 million shares were not yet settled, with a minimum expected amount of $5.8 billion, the company said.

4. 04

   Xcel Energy said it narrowed its 2026 ongoing EPS outlook to $4.10 to $4.16 from the original $4.04 to $4.16. The company set its 2027 ongoing EPS outlook at $4.48 to $4.62 and said it assumes favorable outcomes in all pending rate and regulatory proceedings and normal weather.

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