WEC Energy Q3 net income rises sharply year over year on high demand
Overview
U.S. utility reported Q3 net income and EPS up sharply year over year
Company says results driven by warmer weather, capital plan execution, and efficiency
Company raised and narrowed full-year 2026 EPS guidance
Outlook
WEC Energy raises 2026 earnings guidance to $5.60-$5.64 per share from $5.51-$5.61
Guidance assumes normal weather conditions for the rest of 2026
Company cites favorable weather and capital investment as drivers for improved outlook
Result Drivers
WARMER WEATHER - Co said warmer-than-normal weather contributed to higher results, per CEO Scott Lauber
HIGHER ELECTRICITY DEMAND - Co reported increased electricity use across residential, small commercial, and industrial customers
CAPITAL INVESTMENT - Co cited capital investment, particularly for Very Large Customers, as supporting results
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS | $1.18 | ||
Q3 Net Income | $389.30 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 7 "strong buy" or "buy", 12 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the electric utilities peer group is "buy."
Wall Street's median 12-month price target for WEC Energy Group, Inc. is $116.00, about 5% above its October 28 closing price of $110.50
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 20 three months ago
Reuters Recommended Reads
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Oct 28 - American Electric Power Q3 revenue rises 13.7%, beats estimates
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)