Xcel's 4Q Net Rises, Reiterates 2026 Adj EPS View, Amid Data-Center Boom

Dow Jones02-05

By Rob Curran

Xcel Energy's fourth-quarter net income rose sharply, and the Midwestern utility reiterated its projection for 2026 adjusted earnings growth as it continues to benefit from the surge in power demand created by the artificial-intelligence boom.

The Minneapolis utility posted earnings of $567 million, or 95 cents a share, up from $464 million, or 81 cents a share, a year earlier, and in line with the mean analyst estimate, as tallied by FactSet.

Stripping out a one-time charge related to a wildfire settlement, Xcel posted adjusted earnings of 96 cents a share, also in line with analysts' estimates.

Revenue rose 14% to $3.56 billion, shy of the average Wall Street target of $3.68 billion, as per FactSet.

Xcel will continue supporting data-center development alongside strategic partners, said Chairman, President and Chief Executive Bob Frenzel, in a statement.

A nationwide boom in data centers for artificial-intelligence and other applications has driven up U.S. electricity demand.

For 2026, Xcel reiterated its previous forecast for adjusted earnings in a range between $4.04 a share and $4.16 a share.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

February 05, 2026 06:30 ET (11:30 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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