By Rob Curran
Xcel Energy's third-quarter net income fell despite brisk revenue growth and the owner of Midwestern utilities forecast growth in adjusted 2026 earnings amid rising demand for electricity.
The Minneapolis utility posted earnings of $524 million, or 88 cents a share, down from $682 million or $1.21 a share, a year earlier, and surpassing the mean analyst estimate of $1.32 a share, as tallied by FactSet.
Revenue rose 7.4% to $3.92 billion, topping the Wall Street target of $3.89 billion, as per FactSet.
For 2025, Xcel reiterated its adjusted per-share earnings in a range between $3.75 and $3.85 a share.
For 2026, the utility operator targeted adjusted per-share earnings in a range between $4.04 and $4.16.
A nationwide boom in data centers for artificial-intelligence and other applications has driven up U.S. electricity demand.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
October 30, 2025 07:00 ET (11:00 GMT)
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