Why did XEL's Q4 2024 earnings fall short of forecasts?

Xcel Energy's Q4 2024 earnings fell short of forecasts due to several factors:

1. **Higher Operating and Maintenance Costs**: Xcel Energy experienced increased operational and maintenance expenses, which reduced earnings by $0.13 per share. These costs were driven by investments in wildfire mitigation, generation maintenance, storm response, and damage prevention.
2. **Increased Depreciation and Amortization**: The company incurred higher depreciation and amortization expenses, which decreased earnings by $0.40 per share. This was a result of capital investment programs.
3. **Higher Interest Charges**: Xcel Energy faced higher interest charges, net of AFUDC debt, which reduced earnings by $0.24 per share. This was due to increased debt levels and higher interest rates.
4. **Regulatory Challenges**: The company encountered regulatory lag, particularly in the SPS region, which affected growth despite increased customer load.

In summary, Xcel Energy's Q4 2024 earnings fell short of forecasts due to higher operating and maintenance costs, increased depreciation and amortization, higher interest charges, and regulatory challenges. These factors combined to impact the company's financial performance for the period.

|code|Ticker|Name|Date|Net Income|market_code|
|---|---|---|---|---|---|
|XEL|XEL.O|Xcel Energy|2024 Q1|4.88E8|185|
|XEL|XEL.O|Xcel Energy|2024 Q2|3.02E8|185|
|XEL|XEL.O|Xcel Energy|2024 Q3|6.82E8|185|
|XEL|XEL.O|Xcel Energy|2024 Q4|4.64E8|185|