• Third quarter diluted GAAP and ongoing earnings per share were $1.52 in 2026 compared with GAAP earnings of $0.88 and ongoing earnings of $1.24 in 2025.
• Year-to-date diluted GAAP earnings per share were $3.34 in 2026 compared with $2.47 in 2025.
• Year-to-date diluted ongoing earnings per share were $3.37 in 2026 compared with $2.84 in 2025.
• Xcel Energy narrows its 2026 ongoing earnings per share guidance to $4.10 to $4.16.
• Xcel Energy initiates its 2027 ongoing earnings per share guidance of $4.48 to $4.62.
• Xcel Energy’s long-term annual growth objectives reflect earnings per share growth of 6-8+% and dividend growth of 4-6%.

Xcel Energy has reported 2026 third quarter GAAP earnings of $960 million, or $1.52 per share, compared with $524 million, or $0.88 per share in the same period in 2025 and ongoing earnings of $961 million, or $1.52 per share compared with $737 million or $1.24 per share in the same period in 2025.

The change in earnings per share was primarily driven by increased recovery of electric infrastructure investments, earnings on equity method investments and unseasonably warm weather, partially offset by higher financing costs.

“As one of the nation’s largest builders of clean generation and high-voltage transmission, Xcel Energy continues to make critical investments in the infrastructure our customers and communities need, while staying focused on delivering safe, clean, reliable and affordable energy.

We’ve made considerable progress on our priorities this quarter and our updated five-year investment plan gives us a clear path to extend this growth cycle and continue to deliver affordable and reliable energy our customers need well into the next decade,” said Bob Frenzel, Chairman, President and CEO of Xcel Energy.