HighGravityDataXcel Energy — Oct 31, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000072903-24-000196
Showing in the filing
Ongoing EPS
“$3.50 to $3.60”
Period
FY2024
Measure
GAAP-tied
Source
Prose
All guidance in this release · 40
Ongoing EPS for FY2024
“$3.50 to $3.60”
Ongoing EPS for FY2025
“$3.75 to $3.85”
Long-term annual growth objectives dividend … for the long term
“4 to 6%”
PSCo base capital expenditures (Total) for FY2025
“$22,280”
Total base capital expenditures for FY2025
“$11,000”
Total base capital expenditures for FY2026
“$9,840”
Total base capital expenditures for FY2027
“$8,750”
Electric distribution base capital expenditu… for FY2025
“$15,830”
Total base capital expenditures for FY2028
“$7,570”
Total base capital expenditures for FY2029
“$7,840”
Potential additional capital expenditures be… for FY2025
“approximately $10 billion or greater”
Funding mix for additional capital investment for the long term
“approximately 40% equity and 60% debt”
Funding of additional capital investment
“approximately 40% equity and 60% debt”
Financing plan - Cash from operations for FY2025
“$25,320”
Financing plan - Maturing debt for FY2025
“$3,730”
Financing plan - Equity through the Dividend… for FY2025
“$500”
Weather-normalized retail firm natural gas s… for FY2025
“~1%”
Weather-normalized retail firm natural gas s… for FY2024
“decline by ~1%”
Capital rider revenue increase assumption for FY2024
“$60 million to $70 million (net of PTCs)”
O&M expense growth assumption for FY2024
“3% to 4%”
O&M expenses for FY2024
“3% to 4%”
Depreciation expense for FY2024
“approximately $290 million to $300 million”
Depreciation expense increase assumption for FY2024
“approximately $290 million to $300 million”
Property tax change assumption for FY2024
“expected to decline $10 to $20 million”
Property taxes for FY2024
“$10 to $20 million”
Interest expense (net of AFUDC - debt, net o… for FY2024
“increase $130 million to $140 million”
Interest expense increase assumption for FY2025
“$130 million to $140 million, net of interest income”
Interest expense increase assumption for FY2024
“$130 million to $140 million, net of interest income”
AFUDC - equity for FY2024
“$70 million to $80 million”
AFUDC - equity increase assumption for FY2024
“$70 million to $80 million”
Weather-normalized retail electric sales gro… for FY2025
“~3%”
Capital rider revenue increase assumption for FY2025
“$240 million to $250 million (net of PTCs)”
O&M expense growth assumption for FY2025
“~3%”
O&M expenses for FY2025
“~3%”
Depreciation expense increase assumption for FY2025
“approximately $210 million to $220 million”
Property tax increase assumption for FY2025
“$40 million to $50 million”
AFUDC - equity increase assumption for FY2025
“$120 million to $130 million”
Long-term annual EPS growth for the long term
“6% to 8% based off of $3.55 per share (the mid-point of 2024 original ongoing earnings guidance of $3.50 to $3.60 per share)”
Dividend payout ratio target for the long term
“50% to 60%”
Senior secured debt credit ratings target for the long term
“A range”
Exhibit 99.1 · the passage around this item
… earlier in the release
• Year-to-date GAAP earnings per share for 2024 were $2.63 compared to $2.47 in 2023. • Year-to-date ongoing earnings per share for 2024 were $2.69 compared to $2.52 in 2023. • Xcel Energy reaffirms its 2024 ongoing EPS guidance of $3.50 to $3.60. • Xcel Energy initiates 2025 ongoing EPS guidance of $3.75 to $3.85. • Xcel Energy’s long-term annual growth objectives reflects EPS growth of 6 to 8% and dividend growth of 4 to 6%. MINNEAPOLIS — Xcel Energy Inc. (NASDAQ: XEL) today reported 2024 third quarter GAAP earnings of $682 million, or $1.21 per share, compared with $656 million, or $1.19 per share in the same period in 2023 and ongoing earnings of $707 million, or $1.25 compared with $682 million, or $1.23 per share in the same period in 2023. See Note 6 for reconciliation from GAAP to ongoing earnings. Third quarter ongoing earnings reflect recovery of increased infrastructure investments, partially offset by increased depreciation and interest charges. “The U.S. energy industry is on the cusp of its biggest transition in a century,” said Bob Frenzel, chairman, president and CEO of Xcel Energy. “The unprecedented energy demand to power new technologies, grow U.S.-based manufacturing and support the electrification of our daily lives requires a fundamental shift in how our industry generates and delivers energy, while ensuring our infrastructure is designed to withstand severe weather events and other risks.” “Today, Xc
later in the release …
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other guidance in this release
Text is the filed exhibit, verbatim.