Xcel Energy Inc. reported its financial results for the third quarter of 2025, revealing total operating revenues of $3.915 billion, a 7.4% increase from $3.644 billion in the same period last year. The company's net income for the quarter was $524 million, or $0.88 per diluted share, down from $682 million, or $1.21 per diluted share, in the third quarter of 2024. For the nine months ending September 30, 2025, Xcel Energy's revenues reached $11.108 billion, compared to $10.321 billion in the prior year, while net income was $1.451 billion, slightly lower than $1.472 billion in 2024.
The decrease in net income was attributed to several factors, including a significant $287 million charge related to the Marshall Wildfire litigation settlement. This charge was a key driver behind the decline in earnings per share. Additionally, increased operating and maintenance expenses, higher depreciation, and rising interest charges contributed to the overall decrease in profitability. Despite these challenges, the company experienced growth in electric and natural gas revenues, driven by higher demand and infrastructure investments.
Xcel Energy's operational metrics showed a steady increase in customer counts, with the total number of customers reaching approximately 4.1 million as of September 30, 2025. The company also reported a notable increase in capital expenditures, totaling $7.492 billion for the nine months ended September 30, 2025, compared to $5.197 billion in the same period last year. This increase reflects ongoing investments in renewable energy and infrastructure projects, aligning with the company's strategic focus on sustainability and reliability.
In terms of strategic developments, Xcel Energy has been actively pursuing growth opportunities through various regulatory proceedings and resource planning initiatives. The company filed for a natural gas rate case in Minnesota, seeking a revenue increase of $63 million, and is also engaged in multiple resource planning efforts to meet future energy demands. Furthermore, Xcel Energy has expanded its credit facilities to enhance liquidity, with a total of $4.75 billion available as of September 30, 2025.
Looking ahead, Xcel Energy has provided earnings guidance for 2025, projecting ongoing earnings in the range of $3.75 to $3.85 per share. The company anticipates a 3% increase in weather-normalized retail electric sales and flat natural gas sales. Xcel Energy aims to maintain its long-term objectives of delivering annual EPS growth of 6% to 8% and annual dividend increases of 4% to 6%, while continuing to focus on capital investments and regulatory outcomes that support its growth strategy.
About XCEL ENERGY INC
Xcel Energy Inc. is a regulated utility company providing electric and natural gas services across eight U.S. states. It operates through subsidiaries delivering energy to millions of customers, focusing on reliable, affordable, and increasingly clean energy. The company invests heavily in renewable resources, grid modernization, and environmental sustainability, while maintaining a competitive business model rooted in regulated operations, infrastructure management, and energy innovation.
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