New Risk • May 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.5% average weekly change). Significant insider selling over the past 3 months (€1.2m sold). Valuation Update With 7 Day Price Move • May 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €79.00, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 14x in the Electric Utilities industry in Europe. Total returns to shareholders of 33% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €69.42 per share. Duyuru • May 22
Xcel Energy Inc. announces Quarterly dividend, payable on July 20, 2026 Xcel Energy Inc. announced Quarterly dividend of USD 0.5925 per share payable on July 20, 2026, ex-date on June 15, 2026 and record date on June 15, 2026. Reported Earnings • May 02
First quarter 2026 earnings released: EPS: US$0.89 (vs US$0.84 in 1Q 2025) First quarter 2026 results: EPS: US$0.89 (up from US$0.84 in 1Q 2025). Revenue: US$4.02b (up 2.9% from 1Q 2025). Net income: US$556.0m (up 15% from 1Q 2025). Profit margin: 14% (up from 12% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Electric Utilities industry in Europe. Duyuru • Apr 08
Xcel Energy Inc., Annual General Meeting, May 20, 2026 Xcel Energy Inc., Annual General Meeting, May 20, 2026. Duyuru • Apr 02
Xcel Energy Inc. to Report Q1, 2026 Results on Apr 30, 2026 Xcel Energy Inc. announced that they will report Q1, 2026 results Pre-Market on Apr 30, 2026 Declared Dividend • Mar 09
Dividend of US$0.59 announced Shareholders will receive a dividend of US$0.59. Ex-date: 12th March 2026 Payment date: 20th April 2026 Dividend yield will be 2.2%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (66% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Feb 26
Xcel Energy Inc. Raises 2026 Quarterly Dividend on Common Stock, Payable on April 20, 2026 The Board of Directors of Xcel Energy Inc. raised the quarterly dividend on the company’s common stock from 57 cents per share to 59.25 cents per share, which is equivalent to an annual rate of $2.37 per share. The dividends are payable April 20, 2026, to shareholders of record on March 13, 2026. Duyuru • Feb 24
Xcel Energy Appoints Rob Cain as Senior Vice President and Chief Technology Officer, Effective February 23, 2026 Xcel Energy announced that Rob Cain has been named its senior vice president, chief technology officer, effective immediately. Cain will lead the company’s Technology and Security Services organization, taking over the role held by Tim Peterson, who accepted a position outside of the company. The Technology and Security Services organization is vital to Xcel Energy’s resilience, innovation and success. Cain will oversee its key role in modernizing the company’s infrastructure, mitigating cyber and physical security risks, and enabling AI and other advanced digital solutions to reshape the company’s operations and improve the employee and customer experience. Cain is an accomplished leader who has guided major retail and customer-focused organizations through complex digital transformations and systems modernization for more than three decades. His teams strive to improve effectiveness, efficiency, operational performance and stakeholder experiences. For the past seven years, he served as a partner in the Minneapolis office of consulting firm McKinsey & Co., where he led McKinsey Technology’s North America consumer and retail practice. This group assisted Xcel Energy in refining its customer strategy and journey design across residential and commercial segments. Prior to consulting at McKinsey, Cain was a partner with PriceWaterhouse Coopers, leading the firm’s US Technology & Digital Consulting Practice. He previously served as chief information officer at The Coca-Cola Company, overseeing global corporate IT, and was chief information officer of its major German bottling operation. He is recognized for driving innovation in digital, analytics and AI, and has published widely on technology leadership and transformation. Cain holds a master of business administration degree from the University of Minnesota and a bachelor of arts degree in English language and literature from the University of Notre Dame. Reported Earnings • Feb 09
Full year 2025 earnings released: EPS: US$3.44 (vs US$3.44 in FY 2024) Full year 2025 results: EPS: US$3.44. Revenue: US$14.7b (up 9.1% from FY 2024). Net income: US$2.02b (up 4.2% from FY 2024). Profit margin: 14% (in line with FY 2024). Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Electric Utilities industry in Europe. Duyuru • Feb 04
Great River Energy, ITC Midwest and Xcel Energy Propose 765 KV Transmission Line Project with Application for Certificate of Need Great River Energy, ITC Midwest and Xcel Energy proposed a series of new electric transmission lines that will help deliver continued reliable electricity for energy consumers throughout the region and connect new sources of electricity to the grid to serve increasing and evolving demands for electricity. Today, the project partners submitted an application for a Certificate of Need for PowerOn Midwest to the Minnesota Public Utilities Commission (MPUC). PowerOn Midwest is a series of new electric transmission projects anchored by a 765 kilovolt (kV) backbone transmission line that will connect to the existing transmission grid in eastern South Dakota, travel across southern Minnesota and connect to the broader regional grid. In Minnesota, the 765 kV line will connect the Lakefield, Pleasant Valley and North Rochester substations in Jackson, Mower and Olmstead counties. These projects are essential to move large volumes of electricity from where it’s generated to where it’s needed, ensuring reliable energy delivery in all seasons, at all times. This new infrastructure can accommodate energy from all sources — helping communities thrive as energy needs change. The projects were part of the portfolio approved in December 2024 by the region’s grid operator, the Midcontinent Independent System Operator (MISO), as part of the second set of projects in its Long Range Transmission Plan. In this historic portfolio, MISO approved 24 transmission projects including several 345 kV projects in Minnesota, North Dakota and South Dakota, as well as this 765 kV transmission backbone infrastructure. The companies jointly held 17 public open houses in Minnesota and numerous stakeholder meetings over the past year to provide opportunities for engagement with landowners, local governments, agencies and Tribal Nations. Pending approval of the Certificate of Need application in Minnesota, the companies will work closely with landowners and communities throughout the project area to seek input that will help determine the best line route to propose in their future Route Permit application. Planning for the future: The way companies generate and use electricity is changing — and demand is growing due to new homes, businesses, technologies and industries. Modern, expanded transmission systems like PowerOn Midwest will help ensure continued reliable electricity every hour of every day. Route options are still in development and the companies will work with landowners as that process continues. Route Permit applications will be filed with the MPUC in 2027. Project development continues in South Dakota where a Facility Permit is expected to be filed later in 2026. Subject to regulatory approvals, the companies expect construction of the transmission line to begin by 2030 and the line to be operational in 2034. In addition to the proposed 765 kV projects, two 345 kV projects are included in the Certificate of Need application. The companies would rebuild an existing single-circuit 345 kV line between Pleasant Valley and North Rochester substation, and add a second circuit to the existing 345 kV transmission line between the Hampton and North Rochester substations. Duyuru • Jan 17
Xcel Energy Inc. to Report Q4, 2025 Results on Feb 05, 2026 Xcel Energy Inc. announced that they will report Q4, 2025 results at 9:30 AM, US Eastern Standard Time on Feb 05, 2026 Duyuru • Oct 30
Xcel Energy Reaffirms Earnings Guidance for 2025 and Initiates Earnings Guidance for 2026 Xcel Energy reaffirmed earnings guidance for 2025 and initiated earnings guidance for 2026. For 2025, the company reaffirmed ongoing earnings per share guidance of $3.75 to $3.85.
The company initiates its 2026 ongoing earnings per share guidance of $4.04 to $4.16. Duyuru • Oct 22
Xcel Energy Inc. Announces Management Changes, Effective October 21, 2025 Xcel Energy named Bria Shea as president, Xcel Energy – Minnesota, North Dakota and South Dakota, effective October 21, 2025. Shea will oversee the operating company’s strategic planning, financial results and operational outcomes, leading teams focused on customer, community, regulatory, legislative and government affairs. She brings a strong focus on operational excellence, customer service, energy innovation, speed to power and personal and public safety to the operating company as well as Xcel Energy as a whole. Since joining Xcel Energy in 2008, Shea has held several leadership roles on the regulatory team. She most recently was regional vice president, Planning and Policy, leading government affairs and regulatory strategy for resource, transmission and distribution planning for the company’s energy systems across the Upper Midwest. Shea supports the Twin Cities community through her service on the board of the Minneapolis Clean Energy Partnership and has held previous board positions with the Minneapolis Regional Chamber of Commerce and YWCA Minneapolis. She earned a Bachelor of Arts from Gustavus Adolphus College and law degree from William Mitchell College of Law, both in Minnesota. Shea succeeds Ryan Long, who was named executive vice president, chief legal and compliance officer, earlier this year. Duyuru • Oct 07
Xcel Energy Inc. to Report Q3, 2025 Results on Oct 30, 2025 Xcel Energy Inc. announced that they will report Q3, 2025 results Pre-Market on Oct 30, 2025 Declared Dividend • Sep 03
Dividend of US$0.57 announced Shareholders will receive a dividend of US$0.57. Ex-date: 12th September 2025 Payment date: 20th October 2025 Dividend yield will be 2.6%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (62% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Declared Dividend • Aug 04
Dividend of US$0.57 announced Shareholders will receive a dividend of US$0.57. Ex-date: 12th September 2025 Payment date: 20th October 2025 Dividend yield will be 2.6%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (62% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 01
Second quarter 2025 earnings released: EPS: US$0.76 (vs US$0.54 in 2Q 2024) Second quarter 2025 results: EPS: US$0.76 (up from US$0.54 in 2Q 2024). Revenue: US$3.29b (up 8.6% from 2Q 2024). Net income: US$444.0m (up 47% from 2Q 2024). Profit margin: 14% (up from 10.0% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Electric Utilities industry in Europe. Duyuru • Jul 31
Xcel Energy Inc. Declares Quarterly Dividend, Payable on October 20, 2025 The Board of Directors of Xcel Energy Inc. declared a quarterly dividend on its common stock of 57 cents per share. The dividends are payable October 20, 2025, to shareholders of record on September 15, 2025. Duyuru • Jul 02
Xcel Energy Inc. to Report Q2, 2025 Results on Jul 31, 2025 Xcel Energy Inc. announced that they will report Q2, 2025 results Pre-Market on Jul 31, 2025 Duyuru • Jun 30
Xcel Energy Inc.(NasdaqGS:XEL) dropped from Russell 1000 Dynamic Index Xcel Energy Inc.(NasdaqGS:XEL) dropped from Russell 1000 Dynamic Index Duyuru • Jun 18
Xcel Energy Names Ryan Long as Executive Vice President and Chief Legal and Compliance Officer Xcel Energy announced Ryan Long as the company’s executive vice president and chief legal and compliance officer, effective immediately. Long, currently president of Xcel Energy – Minnesota, North Dakota and South Dakota, takes over the role held by Rob Berntsen, who accepted a position outside the company. Long will oversee Xcel Energy’s legal, compliance, and federal affairs teams. He previously served as interim general counsel in late 2023 and early 2024. Long will continue to oversee the Minnesota, North Dakota, and South Dakota jurisdiction as the company conducts an internal and external search for the next president for this operating company. Long joined Xcel Energy as a principal attorney in late 2015 and was named vice president, deputy general counsel, in May 2021, managing the Federal and State Regulatory, Environmental and Real Estate legal teams. He previously worked as a lawyer for Faegre Baker Daniels, now known as Faegre Drinker Biddle & Reath in Minneapolis and Cravath, Swaine & Moore in New York City. Long currently serves on the board of directors of the Guthrie Theater in Minneapolis. Duyuru • May 22
Xcel Energy Inc. Declares Dividend on Common Stock, Payable on July 20, 2025 The Board of Directors of Xcel Energy Inc. declared a quarterly dividend on its common stock of 57 cents per share. The dividends are payable July 20, 2025, to shareholders of record on June 13, 2025. 
