Xcel Energy ( (XEL) ) has released its Q1 earnings. Here is a breakdown of the information Xcel Energy presented to its investors.
Xcel Energy Inc., a leading utility company in the United States, operates in the electric and natural gas sectors, providing essential energy services across multiple states with a focus on renewable energy and infrastructure resilience.
In its first quarter of 2025 earnings report, Xcel Energy reported a slight decline in earnings per share, with GAAP and ongoing EPS at $0.84 compared to $0.88 in the previous year. Despite this, the company reaffirmed its ongoing EPS guidance for 2025, highlighting its strategic investments in renewable energy and infrastructure resilience.
The company’s financial performance was marked by increased operating revenues, driven by higher electric and natural gas revenues. However, this was offset by increased operating and maintenance expenses, depreciation, and interest charges. Xcel Energy’s strategic initiatives included significant investments in new wind, solar, and battery storage projects, as well as ongoing efforts to mitigate wildfire risks in its service areas.
Looking forward, Xcel Energy remains committed to advancing its energy transition goals, with plans to add substantial renewable energy capacity by 2030. The company continues to focus on enhancing system resilience and addressing regulatory challenges to support its long-term growth and sustainability objectives.
Overall, Xcel Energy’s management maintains a positive outlook for 2025, emphasizing its strategic focus on renewable energy and infrastructure investments to meet the evolving needs of its customers and communities.