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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Nick Campanella | Barclays | 17 (12%) |
| Julien Dumoulin-Smith | Jefferies | 14 (14%) |
| Carly Davenport | Goldman Sachs | 14 (0%) |
| Jeremy Tonet | JPMorgan | 14 (0%) |
| Travis Miller | Morningstar | 8 (0%) |
| Anthony Crowdell | Mizuho Securities | 7 (0%) |
| Sophie Karp | KeyBanc Capital Markets | 7 (14%) |
| Steve Fleishman | Wolfe Research | 7 (0%) |
| Stephen D'Ambrisi | RBC Capital Markets | 6 (50%) |
| Richard Sunderland | Truist Securities | 4 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| JPMorgan | 2 | 18 (0%) |
| Barclays | 1 | 17 (12%) |
| Jefferies | 2 | 16 (13%) |
| Goldman Sachs | 1 |
| 14 (0%) |
| Morningstar | 1 | 8 (0%) |
| Wolfe Research | 1 | 7 (0%) |
| KeyBanc Capital Markets | 1 | 7 (14%) |
| Mizuho Securities | 1 | 7 (0%) |
Xcel Energy delivered Q1 ongoing earnings of $0.91 per share up from $0.84, reaffirming 2026 guidance of $4.04-$4.16 and the 6-8%+ long-term growth rate with a 9% CAGR through 2030. The data center pipeline accelerated with a Google ESA signed while record capital investment execution was on track and the incremental investment pipeline gained visibility. Rate case outcomes progressed constructively across jurisdictions, weather-adjusted electric sales grew 2.8%, and wildfire litigation resolution advanced.
Regulation Policy | Capex Investment | Cloud & AI | Demand | Capital Allocation | Revenue Growth | Guidance Reliability | Competitive Dynamics | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 6 | 4 | 5 | 6 | 1 | 2 | ||
| 2025Q1 | 12 | 3 | 2 | 4 | 3 | 1 | ||
| 2025Q2 | 6 | 5 | 1 | 1 | 3 | 2 | 1 | |
| 2025Q3 | 1 | 7 | 3 | 3 | 2 | 3 | 3 | |
| 2025Q4 | 7 | 4 | 9 | 4 | 2 | |||
| 2026Q1 | 9 | 7 | 6 | 5 | 3 | 2 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Regulation Policy | 6 | 12 | 6 | 1 | 7 | 9 |
| Capex Investment | 4 | 3 | 5 | 7 | 4 | 7 |
| Cloud & AI | 5 | 2 | 1 | 3 | 9 | 6 |
| Demand | 6 | 4 | 1 | 3 | 4 | 5 |
| Capital Allocation | 3 | 3 | 2 | 3 | ||
| Revenue Growth | 1 | 2 | 3 | 2 | ||
| Guidance Reliability | 2 | 1 | 3 | |||
| Competitive Dynamics | 1 | 2 | 2 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $3.12B | -9.4% | $0.81 | +9.5% | 11.1% | 14.9% | $-1.55B |
| FY2025 Q1 | $3.91B | +7.0% | $0.84 | -4.5% | 17.3% | 12.4% | $1.92B |
| FY2025 Q2 | $3.29B | +8.6% | $0.76 | +40.7% | 17.6% | 13.5% |
| $-1.35B |
| FY2025 Q3 | $3.92B | +7.4% | $0.90 | -25.6% | 19.1% | 13.4% | $-1.29B |
| FY2025 Q4 | $3.56B | +14.1% | $0.95 | +17.3% | 16.3% | 15.9% | $717M |
| FY2026 Q1 | $4.02B | +2.9% | $0.89 | +6.0% | 18.2% | 13.8% | $-1.32B |
| FY2026 Q2 | $3.12B | -5.1% | $0.93 | +22.4% | 22.6% | 18.8% | $0 |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What XEL and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“A perfect example is the joint development agreement, which we signed with Excel earlier this week to jointly plan and rapidly deploy new generation, storage and transmission to capture accelerating data center demand across Excel's 8 state service territory.”
NextEra signed a joint development agreement with Xcel Energy (transcribed 'Excel') to co-develop generation, storage and transmission for data-center demand across Xcel's 8-state territory.
“Now we certainly understand where we are with Moody's.”
Xcel acknowledges managing its Baa1 outlook and CFO/debt metrics with Moody's through its build cycle.
“We have 24 gas turbines through Siemens and General Electric that are slotted and in various stages of production and delivery over the next 5 years.”
Xcel has 24 gas turbines slotted through Siemens and GE, indicating firm turbine order backlog.
“I recently announced alliances with GE Vernova and NextEra and strategic agreements with Tier 1 EPC firms”
Xcel announced a supply alliance with GE Vernova to secure generation equipment for its capital plan.
“we also reached a definitive non-exclusive agreement on our previously announced MoU with NextEra Energy to co-develop generation, storage and interconnections to accelerate data center development across our operating companies.”
Xcel and NextEra Energy signed a joint development agreement to co-develop generation/storage for data center load.
“We announced the details of our contract with Google for a new data center in the upper Midwest that we believe is a model for large load development that benefits customers and communities.”
Google signed a 15-year ESA with Xcel for a ~1GW upper-Midwest data center backed by new renewables and long-duration storage.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
XEL Xcel Energy | 6 | +2.9% | |
| AEE Ameren | 7 | +3.8% | |
| AEP American Electric Power | 5 | +6.8% | |
| CMS CMS Energy | 6 | +11.6% | |
| CNP CenterPoint Energy | 5 | +1.9% | |
| D Dominion Energy | 7 | +26.2% | |
| DTE DTE Energy | 7 | +15.8% | |
| DUK Duke Energy | 8 | +11.3% | |
| ED Consolidated Edison | 6 | +6.2% | |
| EIX Edison International | 6 | +7.7% | |
| ES Eversource Energy | 6 | +9.4% | |
| ETR Entergy | 8 | +12.0% | |
| EVRG Evergy | 7 | +5.5% | |
| EXC Exelon | 6 | +7.9% | |
| FE FirstEnergy | 7 | +11.6% | |
| LNT Alliant Energy | 5 | +5.0% | |
| NEE NextEra Energy | 6 | +7.3% | |
| PCG PG&E Corporation | 8 | +15.0% | |
| PEG Public Service Enterprise Group | 9 | +19.4% | |
| PNW Pinnacle West | 8 | +11.4% | |
| PPL PPL Corporation | 7 | +10.8% | |
| SO Southern Company | 6 | +8.0% | |
| WEC WEC Energy Group | 7 | +9.0% |