Xcel Energy annual operating expenses
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Xcel Energy Operating Expenses Growth & History (XEL)
Xcel Energy's operating expenses was $12.09B for fiscal 2025.
View full Xcel Energy company overviewXcel Energy annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $12.09B | $1.03B | +9.33% |
| 2024 | 2024-12-31 | $11.05B | −$670.0M | −5.71% |
| 2023 | 2023-12-31 | $11.72B | −$1.16B | −8.98% |
| 2022 | 2022-12-31 | $12.88B | $1.65B | +14.73% |
| 2021 | 2021-12-31 | $11.23B | $1.82B | +19.32% |
| 2020 | 2020-12-31 | $9.41B | −$15.0M | −0.16% |
| 2019 | 2019-12-31 | $9.43B | −$147.0M | −1.54% |
| 2018 | 2018-12-31 | $9.57B | $391.0M | +4.26% |
| 2017 | 2017-12-31 | $9.18B | $314.0M | +3.54% |
| 2016 | 2016-12-31 | $8.87B | −$157.0M | −1.74% |
| 2015 | 2015-12-31 | $9.02B | −$714.0M | −7.33% |
| 2014 | 2014-12-31 | $9.74B | $670.6M | +7.40% |
| 2013 | 2013-12-31 | $9.07B | $761.8M | +9.17% |
| 2012 | 2012-12-31 | $8.31B | −$567.6M | −6.40% |
| 2011 | 2011-12-31 | $8.87B | $182.2M | +2.10% |
| 2010 | 2010-12-31 | $8.69B | $515.2M | +6.30% |
| 2009 | 2009-12-31 | $8.18B | −$1.64B | −16.68% |
| 2008 | 2008-12-31 | $9.81B | $1.13B | +13.01% |
| 2007 | 2007-12-31 | $8.68B | — | — |
Xcel Energy quarterly operating expenses
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Q2.26
| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $2.41B | −$297.0M | −10.96% |
| Q1 2026 | 2026-03-31 | $3.27B | $38.0M | +1.18% |
| Q4 2025 | 2025-12-31 | $2.98B | $208.0M | +7.50% |
| Q3 2025 | 2025-09-30 | $3.17B | $433.0M | +15.84% |
| Q2 2025 | 2025-06-30 | $2.71B | $131.0M | +5.08% |
| Q1 2025 | 2025-03-31 | $3.23B | $259.0M | +8.72% |
| Q4 2024 | 2024-12-31 | $2.77B | −$94.0M | −3.28% |
| Q3 2024 | 2024-09-30 | $2.73B | −$14.0M | −0.51% |
| Q2 2024 | 2024-06-30 | $2.58B | −$25.0M | −0.96% |
| Q1 2024 | 2024-03-31 | $2.97B | −$537.0M | −15.31% |
| Q4 2023 | 2023-12-31 | $2.87B | −$661.0M | −18.74% |
| Q3 2023 | 2023-09-30 | $2.75B | −$411.0M | −13.01% |
| Q2 2023 | 2023-06-30 | $2.60B | −$351.0M | −11.88% |
| Q1 2023 | 2023-03-31 | $3.51B | $266.0M | +8.21% |
| Q4 2022 | 2022-12-31 | $3.53B | $606.0M | +20.74% |
| Q3 2022 | 2022-09-30 | $3.16B | $516.0M | +19.53% |
| Q2 2022 | 2022-06-30 | $2.96B | $325.0M | +12.36% |
| Q1 2022 | 2022-03-31 | $3.24B | $207.0M | +6.82% |
| Q4 2021 | 2021-12-31 | $2.92B | $401.0M | +15.91% |
| Q3 2021 | 2021-09-30 | $2.64B | $273.0M | +11.52% |
| Q2 2021 | 2021-06-30 | $2.63B | $466.0M | +21.53% |
| Q1 2021 | 2021-03-31 | $3.03B | $678.0M | +28.78% |
| Q4 2020 | 2020-12-31 | $2.52B | $173.0M | +7.37% |
| Q3 2020 | 2020-09-30 | $2.37B | $114.0M | +5.06% |
| Q2 2020 | 2020-06-30 | $2.16B | −$3.0M | −0.14% |
| Q1 2020 | 2020-03-31 | $2.36B | −$299.0M | −11.26% |
| Q4 2019 | 2019-12-31 | $2.35B | — | — |
| Q3 2019 | 2019-09-30 | $2.25B | −$97.0M | −4.12% |
| Q2 2019 | 2019-06-30 | $2.17B | — | — |
| Q1 2019 | 2019-03-31 | $2.65B | $184.0M | +7.45% |
| Q3 2018 | 2018-09-30 | $2.35B | $159.0M | +7.25% |
| Q1 2018 | 2018-03-31 | $2.47B | — | — |
| Q3 2017 | 2017-09-30 | $2.19B | −$20.1M | −0.91% |
| Q4 2016 | 2016-12-31 | $2.30B | $98.4M | +4.46% |
| Q3 2016 | 2016-09-30 | $2.21B | $97.6M | +4.61% |
| Q2 2016 | 2016-06-30 | $2.07B | −$24.0M | −1.15% |
| Q1 2016 | 2016-03-31 | $2.28B | −$329.0M | −12.60% |
| Q4 2015 | 2015-12-31 | $2.20B | −$332.5M | −13.11% |
| Q3 2015 | 2015-09-30 | $2.12B | −$88.6M | −4.02% |
| Q2 2015 | 2015-06-30 | $2.09B | −$195.6M | −8.55% |
| Q1 2015 | 2015-03-31 | $2.61B | −$97.2M | −3.59% |
| Q4 2014 | 2014-12-31 | $2.54B | $132.1M | +5.49% |
| Q3 2014 | 2014-09-30 | $2.20B | $46.9M | +2.17% |
| Q2 2014 | 2014-06-30 | $2.29B | $111.2M | +5.11% |
| Q1 2014 | 2014-03-31 | $2.71B | $380.4M | +16.34% |
| Q4 2013 | 2013-12-31 | $2.41B | $170.5M | +7.63% |
| Q3 2013 | 2013-09-30 | $2.16B | $153.3M | +7.65% |
| Q2 2013 | 2013-06-30 | $2.18B | $307.7M | +16.46% |
| Q1 2013 | 2013-03-31 | $2.33B | $130.3M | +5.93% |
| Q4 2012 | 2012-12-31 | $2.23B | $10.3M | +0.46% |
| Q3 2012 | 2012-09-30 | $2.00B | −$176.2M | −8.08% |
| Q2 2012 | 2012-06-30 | $1.87B | −$209.8M | −10.09% |
| Q1 2012 | 2012-03-31 | $2.20B | −$192.0M | −8.03% |
| Q4 2011 | 2011-12-31 | $2.22B | −$20.2M | −0.90% |
| Q3 2011 | 2011-09-30 | $2.18B | $119.9M | +5.82% |
| Q2 2011 | 2011-06-30 | $2.08B | $96.3M | +4.86% |
| Q1 2011 | 2011-03-31 | $2.39B | −$13.9M | −0.58% |
| Q4 2010 | 2010-12-31 | $2.24B | −$20.3M | −0.90% |
| Q3 2010 | 2010-09-30 | $2.06B | $210.7M | +11.40% |
| Q2 2010 | 2010-06-30 | $1.98B | $245.7M | +14.15% |
| Q1 2010 | 2010-03-31 | $2.40B | $79.1M | +3.40% |
| Q4 2009 | 2009-12-31 | $2.26B | — | — |
| Q3 2009 | 2009-09-30 | $1.85B | −$554.3M | −23.06% |
| Q2 2009 | 2009-06-30 | $1.74B | −$619.0M | −26.28% |
| Q1 2009 | 2009-03-31 | $2.32B | — | — |
| Q3 2008 | 2008-09-30 | $2.40B | — | — |
| Q2 2008 | 2008-06-30 | $2.36B | — | — |
Xcel Energy operating expenses trends
Over the last five fiscal years, Xcel Energy's operating expenses increased from $9.41B to $12.09B, a change of $2.68B. The latest reported quarter, Q2 2026, shows $2.41B.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Xcel Energy source filings ↗