Xcel Energy Inc., through its subsidiaries, generates, purchases, transmits, distributes, and sells electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through coal, nuclear, natural gas, hydroelectric, solar, biomass, oil, wood/refuse, and wind energy sources. It also purchases, transports, distributes, and sells natural gas to retail customers, as well as transports customer-owned natural gas. In addition, the company develops and leases natural gas pipelines, and storage and compression facilities; and invests in rental housing projects, as well as procures equipment for the construction of renewable generation facilities. It serves residential, commercial, and industrial customers in the portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin. The company sells electricity to approximately 3.7 million customers; and natural gas to approximately 2.1 million customers. Xcel Energy Inc. was incorporated in 1909 and is headquartered in Minneapolis, Minnesota.

Xcel Energy Inc.

Electric

Electric %Chg

Electric Common Size

Natural Gas

Natural Gas %Chg

Natural Gas Common Size

Other

Other %Chg

Other Common Size

Total Operating Revenues

Total Operating Revenues %Chg

Total Operating Revenues Common Size

Electric Fuel and Purchased Power

Electric Fuel and Purchased Power %Chg

Electric Fuel and Purchased Power Common Size

Cost of Natural Gas Sold and Transported

Cost of Natural Gas Sold and Transported %Chg

Cost of Natural Gas Sold and Transported Common Size

Cost of Sales - Other

Cost of Sales - Other %Chg

Cost of Sales - Other Common Size

Operating and Maintenance Expenses

Operating and Maintenance Expenses %Chg

Operating and Maintenance Expenses Common Size

Conservation and Demand Side Management Expenses

Conservation and Demand Side Management Expenses %Chg

Conservation and Demand Side Management Expenses Common Size

Depreciation and Amortization

Depreciation and Amortization %Chg

Depreciation and Amortization Common Size

Taxes (Other Than Income Taxes)

Taxes (Other Than Income Taxes) %Chg

Taxes (Other Than Income Taxes) Common Size

Marshall Wildfire Litigation

Marshall Wildfire Litigation %Chg

Marshall Wildfire Litigation Common Size

Loss on Monticello Life Cycle Management/Extended Power Uprate Project

Loss on Monticello Life Cycle Management/Extended Power Uprate Project %Chg

Loss on Monticello Life Cycle Management/Extended Power Uprate Project Common Size

Loss on Comanche Unit 3 Litigation

Loss on Comanche Unit 3 Litigation %Chg

Loss on Comanche Unit 3 Litigation Common Size

Workforce Reduction Expenses

Workforce Reduction Expenses %Chg

Workforce Reduction Expenses Common Size

Total Operating Expenses

Total Operating Expenses %Chg

Total Operating Expenses Common Size

Operating Income

Operating Income %Chg

Operating Income Common Size

Other Expense

Other Expense %Chg

Other Expense Common Size

Other Income, Net

Other Income, Net %Chg

Other Income, Net Common Size

Earnings from Equity Method Investments

Earnings from Equity Method Investments %Chg

Earnings from Equity Method Investments Common Size

Allowance for Funds Used During Construction - Equity

Allowance for Funds Used During Construction - Equity %Chg

Allowance for Funds Used During Construction - Equity Common Size

Interest Charges - Includes Other Financing Costs

Interest Charges - Includes Other Financing Costs %Chg

Interest Charges - Includes Other Financing Costs Common Size

Allowance for Funds Used During Construction - Debt

Allowance for Funds Used During Construction - Debt %Chg

Allowance for Funds Used During Construction - Debt Common Size

Total Interest Charges and Financing Costs

Total Interest Charges and Financing Costs %Chg

Total Interest Charges and Financing Costs Common Size

Income Before Income Taxes

Income Before Income Taxes %Chg

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Income Tax Expense

Income Tax Expense %Chg

Income Tax Expense Common Size

Net Income

Net Income %Chg

Net Income Common Size

Basic

Basic %Chg

Basic Common Size

Diluted

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Diluted Common Size

Cash Dividends Declared per Common Share

Cash Dividends Declared per Common Share %Chg

Cash Dividends Declared per Common Share Common Size

Total Revenues

Total Revenues %Chg

Total Revenues Common Size

Fuel and Purchased Power Expense

Fuel and Purchased Power Expense %Chg

Fuel and Purchased Power Expense Common Size

Operations and Maintenance Expenses

Operations and Maintenance Expenses %Chg

Operations and Maintenance Expenses Common Size

Gross Profit

Gross Profit %Chg

Gross Profit Common Size

Gross Profit Margin

Gross Profit Margin %Chg

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Depreciation & Amortization Expenses

Depreciation & Amortization Expenses %Chg

Depreciation & Amortization Expenses Common Size

Taxes Other than Income Tax

Taxes Other than Income Tax %Chg

Taxes Other than Income Tax Common Size

Other Operating Expenses

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Other Operating Expenses Common Size

Operating Profit

Operating Profit %Chg

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Operating Margin

Operating Margin %Chg

Operating Margin Common Size

Interest and Investment Income

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Interest and Investment Income Common Size

Interest Expense

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Non-Operating Income

Non-Operating Income %Chg

Non-Operating Income Common Size

Revenue

EBIT

EBITDA

CapEx

Net Interest Income

Assets

Adjusted EBITDA

Adjusted Net Income

Net Revenue

Average Assets

Adjusted EBIT

Adjusted Revenue

Adjusted EBT

Adjusted Funds From Operations

Income Statement	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Total Revenues	3,915	3,287	3,906	3,120	3,644	3,028
Total Revenues %Chg	7.4%	8.6%	7%	-9.4%	-0.5%	0.2%
Electric
Natural Gas
Other
Fuel and Purchased Power Expense	1,164	1,053	1,535	1,214	1,126	974
Electric Fuel and Purchased Power
Cost of Natural Gas Sold and Transported
Cost of Sales - Other
Operations and Maintenance Expenses	793	763	796	717	767	748
Operating and Maintenance Expenses
Conservation and Demand Side Management Expenses
Gross Profit	1,958	1,471	1,575	1,189	1,751	1,306
Gross Profit Margin	50%	44.8%	40.3%	38.1%	48.1%	43.1%
Depreciation & Amortization Expenses	750	722	728	702	681	703
Depreciation and Amortization
Taxes Other than Income Tax	172	172	170	140	159	154
Taxes (Other Than Income Taxes)
Other Operating Expenses	287	—	—	—	—	—
Loss on Monticello Life Cycle Management/Extended Power Uprate Project
Loss on Comanche Unit 3 Litigation
Workforce Reduction Expenses
Marshall Wildfire Litigation
Operating Profit	749	577	677	347	911	449
Operating Income
Operating Margin	19.1%	17.6%	17.3%	11.1%	25%	14.8%
Interest and Investment Income	131	129	54	117	86	68
Other Income, Net
Earnings from Equity Method Investments
Allowance for Funds Used During Construction - Equity
Interest Expense	-420	-376	-355	-341	-347	-335
Interest Charges - Includes Other Financing Costs
Allowance for Funds Used During Construction - Debt
Non-Operating Income	46	68	7	68	39	22
Other Expense
Other Income, Net
Total Non-Operating Income	-243	-179	-294	-156	-222	-245
Income Before Provision for Income Taxes	532	384	422	167	692	214
Income Before Income Taxes
Provision for Income Taxes	8	-60	-61	-297	10	-88
Income Tax Expense
Consolidated Net Income	524	444	483	464	682	302
Net Income
Net Income Attributable to Common Shareholders	524	444	483	464	682	302
Basic EPS	0.9	0.8	0.8	0.8	1.2	0.5
Diluted EPS	0.9	0.8	0.8	0.8	1.2	0.5
Basic Weighted Average Shares Outstanding	592	586	575	575	564	557
Total Shares Outstanding	591.4	591.2	576.5	574.4	574.1	557.3
Diluted Weighted Average Shares Outstanding	595	588	577	576	565	557
EBITDA	1,536	1,330	1,440	1,082	1,628	1,188
Effective Tax Rate	1.5%	-15.6%	-14.5%	-177.8%	1.4%	-41.1%