Xcel Energy: Revenue Growth from Data Centers & Electrification 

Xcel Energy’s third-quarter 2024 earnings revealed several key areas of interest for investors assessing the company’s financial performance and growth prospects. The company’s ongoing earnings were reported at $1.25 per share, slightly higher than the $1.23 per share in the third quarter of the previous year. This modest increase in earnings was driven by rate cases and non-fuel riders, alongside higher Allowance for Funds Used During Construction (AFUDC). These factors more than offset higher operating and maintenance (O&M) expenses, increased depreciation and amortization, and rising interest charges due to higher rates and debt levels.