Xcel Energy Q2 EPS rises 24% to $0.93 on infrastructure recovery; Smokehouse Fire loss up $170M

Filed July 30, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 31, 2025 · ~2 min read

Key Changes

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  Q2 2026 diluted EPS $0.93 vs $0.75 in Q2 2025 (+24%), driven by increased recovery of electric infrastructure investments and lower fuel costs, partially offset by higher interest charges from increased debt levels.

  MD&A: Earnings verify on EDGAR →
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  Smokehouse Creek Fire total estimated losses increased $170M to $460M (before insurance), with $404M in settlements reached. Company warns final liabilities could exceed $525M insurance coverage; Texas AG filed lawsuit in Dec 2025 seeking damages and penalties.

  Notes: Smokehouse Creek Fire verify on EDGAR →
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  Minnesota Electric Rate Case verbal decision in June 2026 approved $211M rate increase (down from $365M request), 9.60% ROE (up from 9.25%), and nuclear life extensions that reduced depreciation guidance by $60-70M annually.

  MD&A: Minnesota Electric Rate Case verify on EDGAR →