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Xcel Energy XEL Business Segments

Q1 '26Q4 '25Q3 '25Q2 '25Q1 '25
Revenue by Business
All Other$15M-6.3%$15M0.0%$13M+8.3%$13M-7.1%$16M-30.4%
Regulated Electric$2.98B+5.0%$2.81B+16.6%$3.64B+7.2%$2.88B+8.2%$2.84B+5.6%
Regulated Natural Gas$1.03B-2.4%$737M+6.0%$264M+10.5%$396M+11.5%$1.06B+12.1%
Revenue from contracts with customers by Product
Other$62M-8.8%$53M-23.2%$55M+66.7%$67M+13.6%$68M-12.8%
Retail$3.29B+1.0%$2.93B+13.6%$3.27B+8.2%$2.73B+10.7%$3.26B+7.4%
Transmission$186M+8.1%$164M+5.8%$200M+7.0%$169M+14.2%$172M+8.9%
Wholesale$217M+5.3%$159M+10.4%$205M+7.3%$145M+5.8%$206M+19.1%

FAQ

How does Xcel Energy break its business down?
Xcel Energy (XEL) reports revenue by business across 3 parts — All Other, Regulated Electric and Regulated Natural Gas. Each is extracted from the segment footnotes and tracked over time.
Where does Xcel Energy's segment data come from?
Segment breakdowns are pulled from the segment footnotes in Xcel Energy's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.