Every material Form 8-K Xcel Energy filed with the SEC in 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Xcel Energy issued $2.5 billion of 2.625% convertible senior notes due December 15, 2027, including $300 million from the initial purchasers' option. The notes are convertible into Xcel common stock at an initial conversion price of about $87.26 per share, and conversions can be settled in cash, shares, or a mix. Because the notes are convertible, they could add up to 31,513,750 shares of common stock to the share count if holders convert at the maximum rate.
Issued $2,500,000,000 of 2.625% Convertible Senior Notes due December 15, 2027, dated November 5, 2026
Initial conversion rate of 11.4596 shares per $1,000 principal, or about $87.26 per share
Up to 31,513,750 shares may be issued on conversion at the initial maximum conversion rate of 12.6055 shares per $1,000
Notes cannot be redeemed by Xcel Energy before maturity and carry no sinking fund
Xcel Energy priced an upsized private offering of $2.2 billion in 2.625% convertible senior notes due December 15, 2027, with an option for up to $300 million more. The company expects net proceeds of about $2.18 billion, to be used mainly to repay short-term borrowings, and expects the sale to close on November 5, 2026. Conversion would be at an initial price of about $87.26 per share, and the company may settle the principal in cash, but share issuance is possible for amounts above principal.
Pricing of $2,200,000,000 of 2.625% convertible senior notes due December 15, 2027, upsized from $2,000,000,000
Initial purchasers have a 13-day option for up to an additional $300,000,000 of notes
Expected net proceeds of about $2,178,500,000, or $2,476,250,000 if the option is fully exercised
Initial conversion price of about $87.26 per share, a 10.0% premium to the last reported sale price on November 2, 2026
Xcel Energy has announced a proposed private offering of $2 billion in convertible senior notes due 2027, along with an option for initial purchasers to buy an additional $300 million. The company intends to use the net proceeds to repay short-term borrowings, including commercial paper and term loan borrowings, and for general corporate purposes.
Xcel Energy announced a proposed offering of $2.0 billion in convertible senior notes due 2027 on November 2, 2026.
Initial purchasers may be granted an option to buy up to an additional $300 million aggregate principal amount of the notes within a 13-day period.
Proceeds will be used to repay short-term borrowings, including commercial paper and a portion of a 364-day delayed draw term loan.
Xcel Energy entered into a new equity distribution agreement on October 30, 2026, allowing it to sell up to $6.0 billion of common stock through sales agents, including forward sale arrangements. The filing also terminated its prior at-the-market program dated May 1, 2026, while forward sale agreements from earlier programs remain outstanding, so shareholders should note the potential for additional shares to be issued.
Up to $6.0 billion aggregate gross sales price of common stock (par value $2.50 per share) under the new Equity Distribution Agreement dated October 30, 2026
Prior at-the-market program dated May 1, 2026 was terminated; about $448.6 million of shares remained unsold at termination
About $3.8 billion of shares remain subject to outstanding forward sale agreements from the prior program, and about $2.2 billion from an August 1, 2025 agreement
Xcel Energy will not initially receive proceeds from borrowed shares sold under forward agreements; proceeds are expected on future physical settlement
Xcel Energy reported third-quarter 2026 GAAP earnings of $960 million, or $1.52 per share, up from $524 million, or $0.88 per share, in the third quarter of 2025. The company narrowed its full-year 2026 ongoing earnings per share guidance to a range of $4.10 to $4.16 and initiated 2027 ongoing EPS guidance at $4.48 to $4.62.
Third-quarter 2026 diluted GAAP and ongoing earnings per share were $1.52, compared with GAAP earnings of $0.88 and ongoing earnings of $1.24 in Q3 2025.
Xcel Energy narrowed its 2026 ongoing earnings per share guidance to $4.10 to $4.16.
The company initiated its 2027 ongoing earnings per share guidance of $4.48 to $4.62.
Base capital expenditures for 2027 through 2031 are projected to total $70,000 million.
Xcel Energy reported second-quarter 2026 GAAP net income of $586 million, or $0.93 per diluted share, up from $444 million, or $0.75, a year earlier, with ongoing EPS also at $0.93. Total operating revenues fell to $3.1 billion from $3.3 billion. The company reaffirmed its 2026 ongoing EPS guidance of $4.04 to $4.16, and said the earnings gain was driven by higher recovery of electric infrastructure investments, partly offset by higher financing costs.
Q2 2026 diluted GAAP EPS was $0.93 versus $0.75 in Q2 2025; year-to-date ongoing EPS was $1.84 versus $1.59
Total operating revenues were $3,119 million in Q2 2026 versus $3,287 million in Q2 2025
Interest charges and financing costs rose to $443 million from $349 million in the quarter
2026 ongoing EPS guidance of $4.04 to $4.16 was reaffirmed
Xcel Energy's board elected Peter Carter, 63, a director effective July 29, 2026, increasing the board from 10 to 11 members. Carter is currently president of Delta Air Lines and was appointed to the Audit Committee and the Governance, Compensation and Nominating Committee.
Carter, 63, serves on the board for a term expiring at the 2027 Annual Meeting of Shareholders
Carter has been Delta Air Lines president since April 2026 and previously was Delta's chief external affairs officer and chief legal officer
Board determined Carter is independent under Nasdaq and Xcel Energy standards; he will receive non-employee director pay, prorated to the 2027 annual meeting
Xcel Energy reported first-quarter 2026 GAAP net income of $556 million, or $0.89 per share, up from $483 million, or $0.84 per share, a year earlier, and ongoing earnings of $0.91 per share. The company reaffirmed its 2026 ongoing EPS guidance of $4.04 to $4.16, and said unseasonably warm weather weighed on the quarter. Shareholders get a quarter with higher profit and an unchanged full-year outlook.
GAAP net income was $556 million, or $0.89 per share, versus $483 million, or $0.84 per share, in Q1 2025.
Ongoing EPS was $0.91 per share, versus $0.84 per share a year earlier.
Total operating revenues were $4,021 million, versus $3,906 million in Q1 2025.
Xcel Energy reaffirmed its 2026 ongoing EPS guidance of $4.04 to $4.16.
Xcel Energy reported fourth-quarter and full-year 2025 results on February 5, 2026. Revenue rose to $14.669 billion from $13.441 billion, and ongoing diluted EPS rose to $3.80 from $3.50, while GAAP diluted EPS fell slightly to $3.42 from $3.44 after a $296 million Marshall Wildfire litigation charge. The company reaffirmed its 2026 EPS guidance of $4.04 to $4.16 per share.
Full-year 2025 GAAP diluted EPS was $3.42 versus $3.44 in 2024; ongoing diluted EPS was $3.80 versus $3.50.
Full-year 2025 total operating revenues were $14.669 billion versus $13.441 billion in 2024; net income was $2.018 billion versus $1.936 billion.
Fourth-quarter 2025 GAAP diluted EPS was $0.95 versus $0.81 a year earlier.
Xcel Energy reaffirmed 2026 EPS guidance of $4.04 to $4.16 per share.
Xcel Energy entered into a $1.5 billion 364-day delayed draw term loan on January 30, 2026, and borrowed $750 million under it for general corporate purposes. The loan is unsecured, matures January 30, 2027, and carries interest tied to Term SOFR plus 85.0 basis points. For shareholders, the filing discloses new borrowing and the covenants attached to it, but it does not report earnings or guidance.
Facility size: $1.5 billion 364-day delayed draw term loan with U.S. Bank National Association as administrative agent, dated January 30, 2026
Amount borrowed: $750 million, to be used for general corporate operations
Pricing: Term SOFR plus 85.0 basis points, or an alternate base rate; matures January 30, 2027
Covenant: consolidated funded debt to total capitalization of 70 percent or less
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Xcel Energy filing is on SEC EDGAR ↗. 8-K briefs of other companies →