Here are the 10-Q quarterly reports from Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow XELLL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full XELLL filings page.
Xcel Energy Inc. (XEL) reported third-quarter 2026 operating revenues of $4.172 billion, compared with $3.915 billion a year earlier, and net income of $960 million, versus $524 million. GAAP diluted earnings per share were $1.52, compared with $0.88; ongoing diluted EPS, a non-GAAP measure, was $1.52 versus $1.24. Xcel attributed the change in ongoing EPS primarily to increased recovery of electric infrastructure investments, earnings on equity-method investments and unseasonably warm weather, partially offset by higher financing costs.
The net-income comparison includes a $287 million Marshall Wildfire litigation charge in third-quarter 2025. For the nine months ended September 30, 2026, PSCo recorded an $18 million net reduction in operating expenses, primarily from an increased estimated insurance recovery. Xcel's nine-month operating cash flow was $4.868 billion and capital/construction expenditures were $9.255 billion. It issued 0.5 million common shares through ATM cash transactions for $38 million in net proceeds and physically settled forward-sale agreements involving 10.0 million shares, generating $781 million in cash proceeds and incurring $5.1 million in transaction fees.
Xcel Energy Inc. reported solid earnings growth for the quarter ended June 30, 2026. Total operating revenues were $ 3,119 million versus $ 3,287 million a year earlier, while net income increased to $ 586 million from $ 444 million. Diluted EPS rose to $ 0.93 from $ 0.75, helped by lower electric fuel and purchased power costs, reduced depreciation, higher equity-method income and continued AFUDC, partially offset by higher interest expense.
For the first six months of 2026, net income was $ 1,142 million compared with $ 927 million, and diluted EPS was $ 1.82 versus $ 1.59. Operating cash flow strengthened to $ 2,797 million from $ 2,109 million. The company is funding large capital programs, with capital expenditures of $ 5,970 million and long-term debt (including current portion) rising to $ 36,947 million. Cash and cash equivalents increased to $ 2,010 million, supported by a $1.5 billion term loan and $4.75 billion of committed revolving credit facilities, of which $ 3,648 million remained available.
Xcel Energy continues to manage significant wildfire and regulatory exposures. For the 2024 Smokehouse Creek Fire Complex, it has recorded a total estimated loss of $ 460 million (before insurance), with $ 404 million of expected loss payments already settled and approximately $80 million of the $ 525 million annual wildfire insurance limit remaining. The company notes that ultimate resolution could exceed insurance coverage and materially affect results. For the Marshall Fire in Colorado, settlements totaling $ 640 million have been executed, and higher expected insurance recoveries produced a $ 19 million net credit to 2026 earnings. In Minnesota, regulators ordered a $ 41 million disallowance related to a Prairie Island nuclear outage, leading to $ 38 million of customer refunds recorded in 2026. Adjusting for these non-recurring items, first-half ongoing earnings were $ 1,156 million and ongoing diluted EPS were $ 1.84 versus $ 1.59 a year earlier.
Xcel Energy Inc. reported higher first-quarter 2026 results and detailed major wildfire-related exposures. Net income rose to $556 million from $483 million, with diluted EPS increasing to $0.89 from $0.84. Ongoing EPS, excluding certain items, was $0.91.
Total operating revenues grew modestly to $4.02 billion from $3.91 billion, driven mainly by higher recovery of electric infrastructure investments, alternative revenue and stronger commercial and industrial electric sales, partly offset by warm weather and lower natural gas usage.
Xcel highlighted substantial wildfire matters. For the Smokehouse Creek Fire Complex, it has recorded an estimated $460 million loss before insurance and about $500 million including legal costs, with only about $90 million of wildfire insurance coverage remaining for the policy period. The company also updated the largely settled Marshall Fire litigation, where settlement payments of $640 million led to prior charges but produced a $22 million insurance recovery benefit this quarter.
Liquidity increased, with cash and cash equivalents rising to $1.76 billion from $274 million, supported by $3.26 billion of new long-term debt issuance and a $1.5 billion term loan facility of which $750 million was drawn. Capital expenditures were elevated at $3.02 billion, reflecting continued investment in regulated utility infrastructure.