Description

Xcel Energy’s $10 Billion Data Center Opportunity — Can It Drive 9%+ EPS Growth?

Xcel Energy reported second-quarter 2026 earnings of $0.93 per share, up from $0.75 per share in the prior year, reflecting higher electric revenues from nonfuel riders and sales growth, increased allowance for funds used during construction (AFUDC), and lower depreciation and amortization expenses. These factors were partially offset by higher interest expenses and costs related to common equity financing, which supports the company’s extensive infrastructure investments. Year-to-date weather-adjusted electric sales increased by 2.1%, with expectations for a 3% increase for the full year. The company continues to focus on substantial capital investments, spending $3 billion during the quarter and over $6 billion year-to-date to expand and modernize generation, transmission, and distribution infrastructure across its eight-state service area.