Xcel Energy Beats Q2 Estimates, Sees 4 GW Data Center Load by 2027
XEL is trading near its 52-week low of $69.16 (13% above the low).
Summary
Xcel Energy posted Q2 adjusted EPS of $0.93, beating the $0.79 consensus by a wide margin, driven by higher recovery of infrastructure investments. Net income jumped 32% to $586 million. The company expects to secure an additional 4 GW of data center load by end-2027, with at least 1 GW materializing this year, underscoring robust AI-driven demand. Management flagged over $10 billion in incremental investment opportunities beyond its existing five-year plan and will release an updated capital and financing plan in Q3, extending the outlook through 2031. This follows the $4.3 billion ATM equity offering launched in May and recent rate case settlements, reinforcing a growth trajectory fueled by data center expansion and grid modernization.
At the time of this announcement, XEL was trading at $78.37 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $48.9B. The 52-week trading range was $69.16 to $84.23. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.