Core Insights - WEC Energy reported quarterly earnings of $0.67 per share, exceeding the Zacks Consensus Estimate of $0.64 per share, but down from $0.92 per share a year ago [12] - The company posted revenues of $1.77 billion for the quarter, missing the Zacks Consensus Estimate by 4.77% and down from $1.83 billion year-over-year [5] - The stock has underperformed the market, gaining about 1.7% since the beginning of the year compared to the S&P 500's gain of 14% [2][3] Earnings Performance - The earnings surprise for the latest quarter was 4.69%, following a previous surprise of 4.23% [1] - Over the last four quarters, WEC Energy has surpassed consensus EPS estimates three times [9] Revenue Outlook - The current consensus EPS estimate for the upcoming quarter is $1.11 on revenues of $2.04 billion, and for the current fiscal year, it is $4.88 on revenues of $9.1 billion [11] - Evergy Inc's revenues are expected to be $1.32 billion, down 2.3% from the year-ago quarter [4] Industry Context - WEC Energy belongs to the Zacks Utility - Electric Power industry, which is currently in the top 25% of over 250 Zacks industries [6] - The industry outlook can significantly impact stock performance, with empirical research indicating that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [6] Future Expectations - The estimate revisions trend for WEC Energy is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [3] - The upcoming earnings call will be crucial for assessing the sustainability of the stock's price movement based on recent numbers and future earnings expectations [13]

Financial Performance - For the first six months of 2024, WEC Energy Group recorded net income of $833.6 million, or $2.64 per share, compared to $797.2 million, or $2.52 per share, in the same period last year, representing a 4.4% increase in earnings per share [1]. - Consolidated revenues for the first half of 2024 totaled $4.5 billion, down $265.9 million from $4.718 billion in the first half of 2023, indicating a decline of approximately 5.6% [8]. - Operating income for the second quarter of 2024 was $364.8 million, down from $425.3 million in Q2 2023, reflecting a decrease of approximately 14.2% [20]. - WEC Energy Group reported net income of $211.3 million, or 67 cents per share, for Q2 2024, down from $289.7 million, or 92 cents per share, in Q2 2023 [40]. - The company reaffirmed its 2024 earnings guidance of $4.80 to $4.90 per share, assuming normal weather conditions for the remainder of the year [5]. Expenses and Liabilities - Total operating expenses for the first half of 2024 were $3.274 billion, down from $3.623 billion in the same period last year, a reduction of about 9.6% [20]. - WEC Energy Group's long-term liabilities increased to $28,696.2 million as of June 30, 2024, from $26,753.4 million as of December 31, 2023, representing a rise of 7.2% [38]. - The company reported a decrease in accounts receivable and unbilled revenues, net, amounting to $254.2 million for the six months ended June 30, 2024, down from $529.5 million in the prior year [36]. - WEC Energy Group's total current liabilities decreased to $3,491.6 million as of June 30, 2024, from $5,114.8 million as of December 31, 2023, a reduction of 31.7% [34]. Customer and Market Insights - The company serves approximately 4.7 million customers across Wisconsin, Illinois, Michigan, and Minnesota, maintaining its position as a leading energy provider [27]. - Retail electricity deliveries, excluding the iron ore mine, increased by 0.5% in Q2 2024 compared to Q2 2023, while residential electricity use rose by 1.4% [2][3]. - The company reported a 0.3% increase in electricity consumption by small commercial and industrial customers, while large commercial and industrial customers saw a decline of 0.1% [9]. Cash Flow and Investments - Cash and cash equivalents increased to $224.0 million as of June 30, 2024, compared to $42.9 million at the end of 2023 [32]. - The company achieved net cash provided by operating activities of $1,901.0 million for the six months ended June 30, 2024, compared to $1,754.3 million for the same period in 2023, reflecting an increase of 8.4% [36]. - Capital expenditures for the six months ended June 30, 2024, were $1,138.4 million, up from $1,073.7 million in the same period of 2023, indicating a growth of 6.0% [36]. - WEC Energy Group's cash, cash equivalents, and restricted cash at the end of the period were $302.9 million, compared to $140.1 million at the end of the previous year, showing a significant increase [36]. Strategic Focus - The company emphasized a focus on financial discipline, customer satisfaction, and operating efficiency as key strategies for a strong 2024 [41]. - The company made significant acquisitions, including the West Riverside Energy Center for $98.2 million and other renewable energy facilities, contributing to its market expansion strategy [36]. - WEC Energy Group's deferred income taxes increased to $5,265.4 million as of June 30, 2024, from $4,918.5 million as of December 31, 2023, reflecting a growth of 7.1% [38].

Group 1 - The company reported net income of $211.3 million, or $0.67 per share, for the second quarter of 2024, down from $289.7 million, or $0.92 per share, in the same period last year [17][31] - Consolidated revenues totaled $4.5 billion for the first half of 2024, a decrease of $265.9 million compared to the first half of 2023 [18] - The company reaffirmed its 2024 earnings guidance of $4.80 to $4.90 per share, assuming normal weather conditions for the remainder of the year [11] Group 2 - Retail deliveries of electricity, excluding the iron ore mine, increased by 0.5 percent in the second quarter of 2024 compared to the same quarter last year [10] - Residential electricity use rose by 1.4 percent, while electricity consumption by small commercial and industrial customers was up by 0.3 percent [19][26] - Electricity use by large commercial and industrial customers, excluding the iron ore mine, declined by 0.1 percent [26] Group 3 - The company serves approximately 4.7 million customers across Wisconsin, Illinois, Michigan, and Minnesota [13] - WEC Energy Group is a Fortune 500 company and a component of the S&P 500, with over $44 billion in assets [21] - The company is focused on financial discipline, customer satisfaction, and operating efficiency as part of its business strategy [1]

Core Insights - Analysts' forecasts for key metrics provide valuable insights beyond consensus earnings and revenue estimates [1] Revenue Estimates - The consensus estimate for 'Operating Revenues- Non-Utility Energy Infrastructure' is $171.53 million, indicating a year-over-year change of +1.5% [2] - 'Operating Revenues- Regulated Utility Operations-Wisconsin' is projected to reach $1.49 billion, reflecting a +4.6% change from the previous year [4] - 'Operating Revenues- Regulated Utility Operations-Other States' is estimated at $81.80 million, suggesting a -0.1% year-over-year change [8] - 'Operating Revenues- Regulated Utility Operations-Illinois' is expected to be $261.78 million, indicating a -4.3% change from the year-ago quarter [10] Sales Volumes - Analysts project 'Electric Sales Volumes - Total retail' to reach 8,655.80 GWh, compared to the year-ago figure of 8,620.8 GWh [5] Earnings Projections - WEC Energy Group is forecasted to report quarterly earnings of $0.64 per share, representing a year-over-year decline of 30.4% [6] - Anticipated revenues for WEC Energy Group are $1.86 billion, showing a 1.7% increase compared to the previous year [6] Market Performance - WEC Energy shares have returned +8.3% over the past month, outperforming the Zacks S&P 500 composite's +0.1% change [3] - The current consensus EPS estimate has not been revised in the past 30 days, indicating stability in analysts' projections [3] Importance of Earnings Estimates - Changes in earnings estimates are crucial for predicting potential investor reactions, with empirical studies showing a strong relationship between earnings estimate revisions and short-term stock price performance [9]

Company Overview - WEC Energy Group is a Fortune 500 company and a component of the S&P 500, with approximately 35,000 stockholders of record and 7,000 employees, managing over $44 billion in assets [1] - The company serves 4.7 million customers across Wisconsin, Illinois, Michigan, and Minnesota [4] Upcoming Earnings Release - WEC Energy Group will issue its 2024 second-quarter earnings news release before the stock market opens on July 31, 2024 [2] - A conference call for investors and security analysts is scheduled for the same day at 1 p.m. Central time [2] Financial Information Access - Detailed financial information will be available on the WEC Energy Group website by 6:30 a.m. Central time on July 31 [6] Subsidiaries and Operations - The company's principal utilities include We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources, and Upper Michigan Energy Resources [5] - We Power, a major subsidiary, designs, builds, and owns electric generating plants, while WEC Infrastructure LLC owns a growing fleet of renewable generation facilities across states from South Dakota to Texas [5]

Core Insights - WEC Energy is highlighted as an attractive investment opportunity compared to NextEra Energy, which has seen significant price appreciation in 2024 [2][3] - WEC Energy offers a high-yield dividend growth stock option, trading down a couple of percentage points, making it appealing for dividend growth investors [2][3] Company Overview - WEC Energy has a market capitalization of approximately $26 billion, positioning it below NextEra Energy's $145 billion market cap [4] - The company serves 4.7 million customers across Wisconsin, Illinois, Michigan, and Minnesota, operating as a regulated natural gas and electric utility [5] Business Model - WEC Energy's business is primarily regulated, contrasting with NextEra Energy's hybrid model that includes a significant clean energy component [6] - The company has maintained a consistent annual dividend growth rate of 7% over the past one, three, five, and ten years, demonstrating stability [8] Dividend Performance - WEC Energy has a 21-year streak of annual dividend increases, with a 10-year annualized dividend growth rate of 7%, which is commendable for a utility [7] - The current dividend yield for WEC Energy is around 4%, significantly higher than NextEra Energy's 2.9% and the average utility yield of 3.2% [9] Future Outlook - Management projects earnings growth of 6.5% to 7% annually through 2028, supported by nearly $24 billion in capital spending plans over the next five years [8] - The combination of a strong dividend growth rate and high yield positions WEC Energy as a compelling investment, with potential returns aligning with broader market expectations [10] Investment Timing - The historically high dividend yield of WEC Energy may not be sustainable in the long term, suggesting that now could be an opportune time for investment [11]

MILWAUKEE, July 18, 2024 /PRNewswire/ -- The Wisconsin Electric board of directors today declared a quarterly cash dividend of 90 cents per share on the company's Preferred Stock, 3.60% Series, payable Sept. 1, 2024, to stockholders of record on Aug. 14, 2024. The board also declared a quarterly cash dividend of $1.50 per share on the company's Six Per Cent Preferred Stock, payable Oct. 31, 2024, to stockholders of record on Oct. 11, 2024. SOURCE Wisconsin Electric Power Co. Wisconsin Electric Power Co., do ...

The dividend is payable Sept. 1, 2024, to stockholders of record on Aug. 14, 2024. This marks the 328th consecutive quarter — dating back to 1942 — that the company will have paid a dividend to its stockholders. WEC Energy Group (wecenergygroup.com) is a Fortune 500 company and a component of the S&P 500. The company has approximately 35,000 stockholders of record, 7,000 employees and more than $44 billion of assets. MILWAUKEE, July 18, 2024 /PRNewswire/ -- The board of directors of WEC Energy Group (NYSE: ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ___________________ Commission File Number Registrant; State of Incorporation; Address; and Telephone Number IRS Employer Identification No. ...

WEC Energy Group, Inc. (NYSE:WEC) Q1 2024 Earnings Conference Call May 1, 2024 2:00 PM ET Company Participants Gale Klappa - Executive Chairman Scott Lauber - President & Chief Executive Officer Xia Liu - Chief Financial Officer Beth Straka - Senior Vice President-Corporate Communications & Investor Relations Conference Call Participants Jamieson Ward - Guggenheim Partners Steve Fleishman - Wolfe Research Neil Kalton - Wells Fargo Securities Durgesh Chopra - Evercore ISI Carly Davenport - Goldman Sachs Anth ...