+21.3%
Net income — year over year
$586.0M vs $483.0M a year ago · quarter ended Jun 30, 2026 · from 10-Q XBRL filings.
SEC filings and exhibits only
Earnings filing (8-K) · Latest 10-Q filings
Last updated: Oct 29, 2026 at 7:01 PM UTC
Earnings filing (8-K) · Latest 10-Q filings
Last updated: Oct 29, 2026 at 7:01 PM UTC
ACCOUNTING RISK · CLEAR
No auditor changes, restatements, late filings, or listing notices in the last 12 months.
from SEC filings · 2026-10-09
Thesis change
Weakened
Legacy analysis
Detailed dimension scores were not computed for pre-v1 analyses. Full six-dimension scoring resumes with filings processed by the current pipeline.
- Legacy analysis: scored by the pre-v1 pipeline; deep evidence has not been re-verified.
- 6 thesis dimension(s) lack comparable evidence
Reported facts
GAAP facts are reported by the company. Comparable figures are EarnIQ arithmetic using only quantified adjustments disclosed in the linked SEC exhibit.
Reported EPS and revenue have not yet been extracted from the filing.
1. Three decisive changes
Largest quantified changes versus the company's own history.
+4.3%
Operating income — year over year
$706.0M vs $677.0M a year ago · quarter ended Jun 30, 2026 · from 10-Q XBRL filings.
2. Was it already expected?
Consensus classifications require timestamped pre-report snapshots and eight-quarter surprise history.
| Item | Actual | Expected | Gap | Class |
|---|---|---|---|---|
| Consensus comparison coming soon. | ||||
3. Management consistency
Only attributable, measurable and dated commitments are counted. Delivery record: 5 being tracked.
| Promise | Target | Outcome | Status | Evidence |
|---|---|---|---|---|
| Target a dividend payout ratio of 45% to 55%.other · made 2026-10-29 | 45% to 55%long-term | — | Pending | 8-K 0000072903-26-0001 |
| Deliver annual dividend increases of 4% to 6%.other · made 2026-10-29 | 4% to 6%long-term | — | Pending | 8-K 0000072903-26-0001 |
| Deliver long-term annual EPS growth of 6% to 8+%.eps · made 2026-10-29 | 6% to 8+%long-term | — | Pending | 8-K 0000072903-26-0001 |
| Xcel Energy initiates its 2027 ongoing earnings per share guidance of $4.48 to $4.62.eps · made 2026-10-29 | $4.48 to $4.62FY2027 | — | Pending | 8-K 0000072903-26-0001 |
| Xcel Energy narrows its 2026 ongoing earnings per share guidance to $4.10 to $4.16.eps · made 2026-10-29 | $4.10 to $4.16FY2026 | — | Pending | 8-K 0000072903-26-0001 |
4. What matters next
One deciding measurable condition plus up to two supporting checkpoints.
The deciding condition
EPS for the guided period lands within $4.1–$4.16
StrengthensReported EPS above $4.16
InvalidatesReported EPS below $4.1
Xcel Energy narrowed its 2026 ongoing EPS guidance to $4.10 to $4.16 and initiated 2027 ongoing EPS guidance of $4.48 to $4.62.
5. Risks that changed
New or materially worsened items only; unchanged boilerplate is omitted.
No new or materially worsened risk has been source-verified.
From 10-K filings · EDGAR
15
new risk disclosures added
12
old ones removed
FY2025 10-K vs prior year, boilerplate filtered out — these are idiosyncratic changes, and tone is slightly more negative.
New risk disclosure #1
“• Risks associated with increased reliance on natural gas generation, including gas price volatility and supply constraints during extreme weather events.…”
New risk disclosure #2
“The continued use of natural gas for both power generation and gas distribution have increasingly become a public policy advocacy target. These efforts may result in a limitation of natural gas as an energy source for bo…”
New risk disclosure #3
“• Risks of thermal runaway incidents associated with large battery storage facilities…”
6. Evidence drawer
Source location, short anchor and visible arithmetic for every verified claim.
DC1 10-Q / 10-K XBRL filings (US-GAAP, via EDGAR)
Net income · quarter ended 2026-06-30Net income: +21.3% year over year
(586,000,000 − 483,000,000) ÷ 483,000,000 = +21.3% YoYDC2 10-Q / 10-K XBRL filings (US-GAAP, via EDGAR)
Operating income · quarter ended 2026-06-30Operating income: +4.3% year over year
(706,000,000 − 677,000,000) ÷ 677,000,000 = +4.3% YoYWN1 8-K Exhibit 99.1 (earnings release, via EDGAR)
Guidance disclosed for Q3 FY2026EPS for the guided period lands within $4.1–$4.16
Strengthens: Reported EPS above $4.16 · Invalidates: Reported EPS below $4.1