Xcel Energy Inc

Company facts

Industry

Electric & Other Services Combined

Headquarters

Minneapolis, Minnesota

Most recent report

8-K, filed Aug 20, 2026

Incorporated

Minnesota

Filings on record

1,003+ filings

On EDGAR

CIK 72903

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 2 of 11 sections worth reading, with 2 positive, 4 notable, and 4 negative flags.

• Financial Statements (Item 1)

  Critical wildfire loss estimates, capex ramp, financing structure, and earnings.
  Notable

  • New $1.5B term loan fully drawn by June 30, 2026, maturing Jan 2027.
  • Marshall Fire settlement net credit of $19M in H1 2026 from increased insurance recovery.
  Negative

  • One trading counterparty ($10M, 8% of exposure) has below-investment-grade credit quality.
  • Only $80M of $525M wildfire insurance coverage remains after $460M estimated loss from Smokehouse Creek Fire.
  • Prairie Island nuclear outage: MPUC ordered $41M disallowance, $37M customer refund recognized in Q1 2026.

• Management's Discussion (Item 2)

  MD&A with FY2026 Q2 results, rate cases, huge capex, equity raises.
  Positive

  • EPS up 24% in Q2 2026 to $0.93 vs $0.75 in Q2 2025, driven by infrastructure investment recovery.
  • MPUC approved large load tariff for >100 MW customers in Minnesota, enabling data center service.
  Notable

  • MPUC verbal decision in MN electric rate case: $211M increase (2.9% avg) and ROE raised to 9.60% from 9.25%.
  • Entered forward equity for 42.5M shares ($3.2B min proceeds); 69.7M shares unsettled ($5.2B min).
  Negative

  • Interest charges up $94M Q2, $174M YTD due to higher debt levels; a major cost pressure.

What changed: Jun 2026 vs. Mar 2026

About 9% of XEL's Jun 2026 10-Q is new information. 47 paragraphs were added, 164 changed, and 66 removed. Below are the most important lines SECSift identified.

• Item 2 82
• Item 1 67
• Item 4 1
• Item 5 1
• Item 6 1