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Companies / Xcel Energy / Filing

Xcel Energy — Feb 6, 2025 release

Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000072903-25-000023
Open on SEC.gov ↗
Showing in the filing
Dividend payout ratio target
“50% to 60%”
Period
The long term
Measure
Declared action
Source
Guidance table
All guidance in this release · 51
Base capital expenditures - PSCo for FY2026
“$5,190”
Base capital expenditures - PSCo for FY2027
“$3,940”
Base capital expenditures - PSCo for FY2028
“$3,780”
Base capital expenditures - PSCo for FY2029
“$3,550”
Base capital expenditures - PSCo 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”
Base capital expenditures - NSP-Minnesota for FY2029
“$2,570”
Base capital expenditures by function - Elec… for FY2025
“$2,570”
Base capital expenditures by function - Elec… for FY2026
“$3,000”
Base capital expenditures by function - Elec… for FY2027
“$3,400”
Base capital expenditures by function - Elec… for FY2028
“$3,320”
Base capital expenditures by function - Elec… for FY2029
“$3,540”
Base capital expenditures by function - Elec… for FY2025
“15,830”
Base capital expenditures by function - Elec… for FY2025
“12,560”
Total base capital expenditures for FY2028
“$7,570”
Total base capital expenditures for FY2029
“$7,840”
Financing plan - Base capital expenditures for FY2025
“$45,000”
Base capital expenditures - Other for FY2029
“$10”
Base capital expenditures - Other for FY2028
“$10”
Base capital expenditures - Other for FY2027
“$10”
Potential additional capital expenditures be… for FY2025
“$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”
Base capital expenditures by function - Natu… for FY2025
“$800”
Cash proceeds from forward sale agreements a…
“approximately $1.36 billion”
NSP-Minnesota planned resource additions (wi… for FY2030
“3,200 MW of wind, 400 MW of solar and 600 MW of stand-alone storage”
PSCo base sales forecast (compound annual gr… for FY2031
“7% compound annual sales growth”
PSCo low sales forecast (compound annual gro… for FY2031
“3% compound annual sales growth”
PSCo forecasted new generation capacity need for FY2031
“5-14 GW”
PSCo Wildfire Mitigation Plan (WMP) estimate… for FY2025
“approximately $1.9 billion”
SPS projected resource needs (IRP) for FY2030
“approximately 5,300 MW to 10,200 MW”
SPS RFP accredited generation capacity sought for FY2030
“approximately 3,200 MW”
Financing plan - Equity through the Dividend… for FY2025
“$500”
Ongoing earnings (EPS) for FY2025
“$3.75 to $3.85 per share”
Weather-normalized retail electric sales for FY2025
“~3%”
Weather-normalized retail firm natural gas s… for FY2025
“~1%”
Capital rider revenue (net of PTCs) for FY2025
“$260 million to $270 million”
Base capital expenditures by function - Rene… for FY2027
“$260”
O&M expenses for FY2025
“~3%”
Depreciation expense for FY2025
“approximately $210 million to $220 million”
Property taxes for FY2025
“$55 million to $65 million”
Interest expense (net of AFUDC - debt), net … for FY2025
“$165 million to $175 million”
AFUDC - equity for FY2025
“$110 million to $120 million”
Long-term annual EPS growth objective 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)”
Annual dividend increases objective for the long term
“4% to 6%”
Dividend payout ratio target for the long term
“50% to 60%”
Senior secured debt credit ratings target for the long term
“the A range”
Exhibit 99.1 · the passage around this item
… earlier in the release
18 Long-Term EPS and Dividend Growth Rate Objectives — Xcel Energy expects to deliver an attractive total return to our shareholders through a combination of earnings growth and dividend yield, based on the following long-term objectives: •     Deliver long-term annual EPS growth of 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). •    Deliver annual dividend increases of 4% to 6%. •     Target a dividend payout ratio of 50% to 60%. •     Maintain senior secured debt credit ratings in the A range. 19 XCEL ENERGY INC. AND SUBSIDIARIES EARNINGS RELEASE SUMMARY (UNAUDITED) (amounts in millions, except per share data) Three Months Ended Dec. 31 2024 2023 Operating revenues: Electric and natural gas $ 3,105  $ 3,414  Other 15  28  Total operating revenues 3,120  3,442  Net income $ 464  $ 409  Weighted average diluted common shares outstanding 576  554  Components of EPS — Diluted Regulated utility $ 0.85  $ 0.84  Xcel Energy Inc. and other costs (0.05) (0.10) GAAP diluted EPS (a) $ 0.81   $ 0.74   Loss on Comanche Unit 3 litigation (See Note 6) —  —  Workforce reduction expenses (See Note 6) —  0.09  Sherco Unit 3 2011 outage refunds (See Note 6) —  —  Ongoing diluted EPS (a) $ 0.81   $ 0.83   Book value per share $ 33.88  $ 31.79  Cash dividends declared per common share 0.5475  0.52  Twelve Months Ended Dec. 31 2024 2023 Operating revenues: Electric and natural gas $ 13,377  $ 14,091  Other 64  115  Total operating revenues 13,441  14,206  Net income $ 1,936  $ 1,771  Weighted average diluted common shares outstanding 563  552  Components of EPS — Diluted Regulated utility $ 3.76  $ 3.52  Xcel Energy Inc. and
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.