Investor Presentaiton
15
Investor Fact Book October 2023 | Xcel Energy
Xcel Energy Inc. | Selected Financial Data
Years Ended December 31
(Millions of Dollars, Except Per Share Data)
2022
2021
2020
2019
2018
Operating revenues
$15,310
$13,431
$11,526
$11,529
$11,537
Operating expenses
$12,882
$11,228
$9,410
$9,425
$9,572
Net income
$1,736
$1,597
$1,473
$1,372
$1,261
Earnings available to common shareholders
$1,736
$1,597
$1,473
$1,372
$1,261
Diluted earnings per common share
$3.17
$2.96
$2.79
$2.64
$2.47
Financial information
Dividends declared per common share
Total assets
Long-term debt (a)
$1.95
$1.83
$1.72
$1.62
$1.52
$61,188
$22,813
$57,851
$21,779
$53,957
$19,645
$50,448
$17,407
$45,987
$15,803
(a) As a result of adopting Leases, Topic 842, finance lease obligations of $77 million are included in other noncurrent liabilities on the consolidated balance
sheet at Dec. 31, 2019. These obligations were included in long-term debt prior to 2019.
Xcel Energy Inc. | 2023 and 2024 Ongoing Earnings Guidance Assumptions
As of October 27, 2023
Xcel Energy 2023 Earnings Guidance
Xcel Energy's 2023 ongoing earnings guidance is a range of
$3.32 to $3.37 per share (a)
Key assumptions as compared with 2022 levels unless noted:
• Constructive outcomes in all pending rate case and regulatory
proceedings.
• Normal weather patterns for the remainder of the year.
• Weather-normalized retail electric sales are projected to increase
~1% to 2%.
•Weather-normalized retail firm natural gas sales are projected to
increase 1%.
• Capital rider revenue is projected to increase $40 million to
$50 million (net of PTCs).
•O&M expenses are projected to decline ~1% to 2%.
•
Depreciation expense is projected to increase approximately
$25 million to $35 million.
•Property taxes are projected to decrease $30 million to
$35 million.
• Interest expense (net of AFUDC - debt) is projected to increase
$90 million to $100 million.
⚫AFUDC - equity is projected to increase $10 million to
$15 million.
⚫ETR is projected to be ~(9%) to (11%). The negative ETR is
largely offset by PTCs flowing back to customers in the capital
riders and fuel mechanisms and is largely earnings neutral.
Xcel Energy 2024 Earnings Guidance
Xcel Energy's 2024 ongoing earnings guidance is a range of
$3.50 to $3.60 per share. (a)
Key assumptions as compared with 2023 projected levels
unless noted:
Constructive outcomes in all pending rate case and regulatory
proceedings.
Normal weather patterns for the year.
•Weather-normalized retail electric sales are projected to increase
2% to 3%.
•Weather-normalized retail firm natural gas sales are projected
to increase 1%.
• Capital rider revenue is projected to increase $35 million to
$45 million (net of PTCs).
• O&M expenses are projected to increase 1% to 2%.
•
Depreciation expense is projected to increase approximately
$250 million to $260 million.
• Property taxes are projected to increase $40 million to
$50 million.
• Interest expense (net of AFUDC - debt) is projected to increase
$115 million to $125 million.
⚫AFUDC - equity is projected to increase $40 million to $50 million.
⚫ETR is projected to be ~(4%) to (6%). The negative ETR is largely
offset by PTCs flowing back to customers in the capital riders
and fuel mechanisms and is largely earnings neutral.
(a)
Ongoing earnings is calculated using net income and adjusting for certain nonrecurring or infrequent items that are, in management's view, not reflective of ongoing
operations. Ongoing earnings could differ from those prepared in accordance with GAAP for unplanned and/or unknown adjustments. As Xcel Energy is unable to
quantify the financial impacts of any additional adjustments that may occur for the year, we are unable to provide a quantitative reconciliation of the guidance for
ongoing EPS to corresponding GAAP EPS.View entire presentation