Exhibit 99.01
logoa01a01a14.jpg
 
414 Nicollet Mall
May 7, 2020
Minneapolis, MN 55401

XCEL ENERGY
First Quarter 2020 EARNINGS REPORT

GAAP 2020 first quarter earnings per share were $0.56 compared with $0.61 per share in 2019.
Xcel Energy reaffirms 2020 EPS earnings guidance of $2.73 to $2.83 per share, which assumes the implementation of contingency plans will be sufficient to offset the negative impacts of the COVID-19 pandemic under the base case scenario. For additional information, see Notes 5 and 6.

MINNEAPOLIS — Xcel Energy Inc. (NASDAQ: XEL) today reported 2020 first quarter GAAP and ongoing earnings of $295 million, or $0.56 per share, compared with $315 million, or $0.61 per share in the same period in 2019.

The decrease in earnings primarily reflects the negative impact of weather. The impact of COVID-19 did not significantly affect first quarter 2020 results, but could have a material impact on our financial results going forward.

Xcel Energy achieved solid first quarter results, experiencing only minor impacts from COVID-19 due to the timing of stay-at-home policies in our service territories. We are responding to the economic impact from this global pandemic by implementing contingency plans to minimize the impact on our financial results that should allow us to deliver earnings within our guidance range of $2.73 to $2.83 per share. However, these are unprecedented times and the ultimate economic impact from the pandemic may be greater than anticipated,” said Ben Fowke, chairman and CEO of Xcel Energy.

“Our customers and communities are counting on Xcel Energy to deliver the reliable energy that is needed to support local hospitals, emergency responders, grocery stores and other critical operations. We’re also doing more than ever to support our communities. Along with the Xcel Energy Foundation, we have already donated $1.5 million to local nonprofit organizations, including those that address food scarcity and local chapters of the United Way. In total, we are planning to donate approximately $20 million in corporate giving, including COVID-19 relief in 2020. Together we will make it through these very challenging times.

At 9:00 a.m. CDT today, Xcel Energy will host a conference call to review financial results. To participate in the call, please dial in 5 to 10 minutes prior to the start and follow the operator’s instructions.

US Dial-In:
(866) 575-6539

International Dial-In:
(400) 120-8590
Conference ID:
9177602

The conference call also will be simultaneously broadcast and archived on Xcel Energy’s website at www.xcelenergy.com. To access the presentation, click on Investor Relations. If you are unable to participate in the live event, the call will be available for replay from 12:00 p.m. CDT on May 7 through 12:00 p.m. CDT on May 10.

Replay Numbers
 
US Dial-In:
(888) 203-1112
International Dial-In:
(719) 457-0820
Access Code:
9177602


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The following information was filed by Northern States Power Co on Thursday, May 7, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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