Xcel Energy (XEL) Operating Expenses (2009 - 2026)

Xcel Energy's Operating Expenses history runs 18 years deep, the most recent figure standing at $3.3 billion for Q1 2026.

• In Q1 2026, Operating Expenses rose 1.18% year-over-year to $3.3 billion; the TTM figure through Mar 2026 stood at $12.1 billion (up 7.16% YoY), while the FY2025 annual figure was $12.1 billion, up 9.33% from the prior year.
• Operating Expenses came in at $3.3 billion for Q1 2026 at Xcel Energy, up from $3.0 billion in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $3.5 billion in Q4 2022 to a low of $2.6 billion in Q2 2024.
• A 5-year average of $3.0 billion and a median of $3.0 billion in 2024 frame the typical range for Operating Expenses.
• Across the five-year window, Operating Expenses advanced 20.74% in 2022 and retreated 18.74% in 2023, its largest moves.
• Xcel Energy's Operating Expenses stood at $3.5 billion in 2022, then dropped by 18.74% to $2.9 billion in 2023, then decreased by 3.28% to $2.8 billion in 2024, then climbed by 7.5% to $3.0 billion in 2025, then climbed by 9.59% to $3.3 billion in 2026.
• According to Business Quant data, Operating Expenses over the past three periods registered $3.3 billion, $3.0 billion, and $3.2 billion for Q1 2026, Q4 2025, and Q3 2025 respectively.

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