HighGravityData
Companies / Xcel Energy / Filing

Xcel Energy — Oct 30, 2025 release

Fiscal 2025 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000072903-25-000254
Open on SEC.gov ↗
Showing in the filing
Capital investment funding
“approximately 40% equity and 60% debt”
Period
No period stated
Measure
Company-defined measure
Source
Prose
All guidance in this release · 44
Ongoing earnings per share for FY2025
“$3.75 to $3.85”
Ongoing earnings per share for FY2026
“$4.04 to $4.16”
NSP-Minnesota base capital expenditures for FY2027
“$4,870”
NSP-Minnesota base capital expenditures for FY2028
“$4,210”
NSP-Minnesota base capital expenditures for FY2029
“$3,660”
NSP-Minnesota base capital expenditures for FY2030
“$3,650”
NSP-Minnesota base capital expenditures for FY2026
“$20,130”
Total base capital expenditures for FY2026
“$13,790”
Total base capital expenditures for FY2027
“$15,130”
Total base capital expenditures for FY2028
“$12,650”
Total base capital expenditures for FY2029
“$9,020”
Total base capital expenditures for FY2030
“$9,410”
Electric distribution base capital expenditu… for FY2030
“$2,930”
Electric distribution base capital expenditu… for FY2028
“$2,930”
Electric transmission base capital expenditu… for FY2027
“$2,930”
Electric transmission base capital expenditu… for FY2028
“$2,890”
Electric transmission base capital expenditu… for FY2029
“$3,190”
Electric transmission base capital expenditu… for FY2030
“$3,370”
Electric transmission base capital expenditu… for FY2026
“$15,440”
Capital investment funding mix (equity/debt) for FY2026
“approximately 40% equity and 60% debt”
Capital investment funding
“approximately 40% equity and 60% debt”
Cash from operations (financing capital expe… for FY2026
“$30,180”
Maturing debt for FY2026
“$3,580”
Weather-normalized retail electric sales for FY2026
“~3%”
Weather-normalized retail electric sales for FY2025
“~3%”
Capital rider revenue (net of PTCs) for FY2025
“$255 million to $265 million”
O&M expenses for FY2025
“~5%”
Depreciation expense for FY2025
“approximately $220 million to $230 million”
Property taxes for FY2025
“$45 million to $55 million”
Interest expense (net of AFUDC - debt), net … for FY2025
“$180 million to $190 million”
Other base capital expenditures (by regulate… for FY2026
“$110”
AFUDC - equity for FY2025
“$110 million to $120 million”
Weather-normalized retail firm natural gas s… for FY2026
“~1%”
Capital rider revenue for FY2026
“$550 million to $560 million”
O&M expenses for FY2026
“~3%”
Depreciation expense for FY2026
“approximately $370 million to $380 million”
Property taxes for FY2026
“$30 million to $40 million”
Interest expense (net of AFUDC - debt), net … for FY2026
“$290 million to $300 million”
AFUDC - equity for FY2026
“$140 million to $150 million”
Annual dividend increases for FY2025
“4% to 6%”
Annual dividend increases objective for the long term
“4% to 6%”
Dividend payout ratio
“45% to 55%”
Dividend payout ratio target for the long term
“45% to 55%”
Senior secured debt credit ratings target for the long term
“A range”
Exhibit 99.1 · the passage around this item
… earlier in the release
Base Capital Forecast (Millions of Dollars) By Function 2026 2027 2028 2029 2030 Total Electric transmission $ 3,060  $ 2,930  $ 2,890  $ 3,190  $ 3,370  $ 15,440  Renewables 3,560  4,620  3,380  1,150  1,210  13,920  Electric distribution 2,920  3,250  2,930  1,680  2,930  13,710  Electric generation 2,220  2,420  2,500  1,810  590  9,540  Natural gas 860  830  700  650  680  3,720  Other 1,170  1,080  250  540  630  3,670  Total base capital expenditures $ 13,790  $ 15,130  $ 12,650  $ 9,020  $ 9,410  $ 60,000  The plan does not include any potential incremental generation from the current Colorado Near-Term Procurement and Resource Plan, additional future generation RFPs across jurisdictions to fund growth, or additional transmission investments that may come from future planning processes including MISO and SPP. Xcel Energy expects to fund additional capital investment with approximately 40% equity and 60% debt. Xcel Energy’s capital expenditure forecast is subject to continuing review and modification. Actual capital expenditures may vary from estimates due to changes in electric and natural gas projected load growth, safety and reliability needs, regulatory decisions, legislative initiatives, tax policy, reserve requirements, availability of purchased power, alternative plans for meeting long-term energy needs, environmental initiatives and regulation, and merger, acquisition and divestiture opportunities. 10 Financing for Capital Expenditures through 2030 — Xcel Energy issues debt and equity securities to refinance retiring debt maturities, reduce short-term debt, fund capital programs, infuse equity in subsidiaries, fund asset acquisitions and for general corporate purposes. Current estimated financing plans of Xcel Energy for 2026-2030 (includes the impact of tax credit transferability): (Millions of Dollars) Funding Capital Expenditures Cash from operations (a) $ 30,180  New debt (b) 22,820  Equity issuances (c) 7,000  Base capital expenditures 2026-2030 $ 60,000  Maturing debt $ 3,580  (a) Net of dividends and pension funding. (b) Reflects a combination of short and long-term debt
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.