Financial Data and Key Metrics Changes - The company reported earnings of $0.76 per share for Q2 2025, reflecting a $0.09 increase compared to Q2 2024 [15] - The earnings guidance for 2025 remains between $5.17 to $5.27 per share, assuming normal weather conditions for the remainder of the year [3][20] - The company expects a long-term compound annual earnings growth rate of 6.5% to 7% [4][20] Business Line Data and Key Metrics Changes - Utility operations earnings increased by $0.16 compared to Q2 2024, with weather positively impacting earnings by approximately $0.04 [15][16] - Retail electric deliveries grew by 1.1%, led by a 1.9% increase in the large commercial and industrial segment [17] - Earnings from the Energy Infrastructure segment decreased by $0.03 due to storm damage losses [18] Market Data and Key Metrics Changes - The unemployment rate in Wisconsin stands at 3.2%, below the national average, indicating strong economic conditions [4] - The company anticipates a demand growth forecast of 1.8 gigawatts to serve the I-94 corridor [5] - The Wall Street Journal reported Milwaukee ranked second among U.S. metro areas for college graduates landing jobs, highlighting a skilled labor market [6] Company Strategy and Development Direction - The company is executing a five-year capital investment plan totaling $28 billion, the largest in its history, aimed at supporting economic growth and reliability [7] - The company is actively working on renewable projects and has received approvals for natural gas generation and storage projects [9][10] - The Very Large Customer tariff is under review, designed to meet the needs of large load customers while protecting other customers [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the economic development in the region, particularly with significant investments from companies like Yaskawa and Microsoft [4][5] - The company is closely monitoring the regulatory environment and expects a decision on the Very Large Customer tariff by Q2 next year [12] - Management remains optimistic about continued growth in the region and the company's future [21] Other Important Information - The company plans to extend the operating lives of coal units at the Oak Creek plant through 2026 to meet energy demand [10][68] - The company is working on safe harboring renewable projects to qualify for tax credits under new treasury guidance [8][64] - The annualized dividend stands at $3.57 per share, with a target payout ratio of 65% to 70% of earnings [21] Q&A Session Summary Question: Can you discuss the demand from Vantage and how the company plans to procure generation for that? - The company is actively working with Vantage to meet their demand needs, aiming for about 1.3 gigawatts by 2027, while exploring various options for capacity [24][28] Question: How does the company view the capital growth rate and potential adjustments? - Management is optimistic about economic development and will review growth patterns in the upcoming capital plan update [30][32] Question: What is the status of the large load tariff proceeding? - The company has reached a settlement with large customers on the tariff, which is currently under review by the commission [33][34] Question: Can you provide updates on the Microsoft data center site? - The company is confident in the ongoing development at the Microsoft site and anticipates future opportunities as construction progresses [75][84] Question: What is the plan for the Point Beach PPA and Port Washington Unit one? - Discussions are ongoing regarding the Point Beach PPA, with productive talks expected to yield updates by the end of the year [47][48]

Core Insights - WEC Energy Group reported quarterly earnings of $0.76 per share, exceeding the Zacks Consensus Estimate of $0.71 per share, and showing an increase from $0.67 per share a year ago, resulting in an earnings surprise of +7.04% [1] - The company generated revenues of $2.01 billion for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 8.16%, compared to $1.77 billion in the same quarter last year [2] - WEC Energy shares have increased approximately 15.5% year-to-date, outperforming the S&P 500's gain of 8.3% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.86 on revenues of $1.98 billion, and for the current fiscal year, it is $5.23 on revenues of $9.4 billion [7] - The estimate revisions trend for WEC Energy was mixed prior to the earnings release, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Utility - Electric Power industry, to which WEC Energy belongs, is currently ranked in the top 30% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - PG&E, another company in the same industry, is expected to report quarterly earnings of $0.33 per share, reflecting a year-over-year increase of +6.5%, with revenues projected at $6.32 billion, up 5.6% from the previous year [9][10]

Executive Summary & Highlights [Second Quarter 2025 Financial Performance](index=1&type=section&id=Second%20Quarter%202025%20Financial%20Performance) WEC Energy Group reported a strong second quarter in 2025, with net income and earnings per share increasing significantly compared to the prior year, driven by a warm start to summer, capital plan execution, and operational efficiency Second Quarter Financial Performance | Metric | Q2 2025 | Q2 2024 | Change | | :------------------- | :-------- | :-------- | :------- | | Net Income | $245.4 M | $211.3 M | +16.1% | | EPS | $0.76 | $0.67 | +13.4% | - The **strong quarter** was attributed to a warm start to the summer, steady execution of the capital plan, and a continued focus on operating efficiency[3](index=3&type=chunk) [First Six Months 2025 Financial Performance](index=1&type=section&id=First%20Six%20Months%202025%20Financial%20Performance) For the first half of 2025, the company also demonstrated robust growth in net income, EPS, and consolidated revenues, building on the positive momentum from the second quarter First Six Months Financial Performance | Metric | H1 2025 | H1 2024 | Change | | :------------------- | :-------- | :-------- | :------- | | Net Income | $969.6 M | $833.6 M | +16.3% | | EPS | $3.02 | $2.64 | +14.4% | | Consolidated Revenues | $5.2 B | $4.49 B | +$706.8 M | [Operational Highlights & Deliveries](index=1&type=section&id=Operational%20Highlights%20%26%20Deliveries) Retail electricity deliveries saw increases across all customer segments in Q2 2025, with residential use leading the growth, and overall deliveries showing a positive trend even on a weather-normal basis Q2 2025 Retail Electricity Delivery Growth (YoY) | Customer Segment | Growth Rate | | :------------------------------- | :---------- | | Retail deliveries (excl. iron ore mine) | +1.0% | | Small commercial and industrial | +0.6% | | Large commercial and industrial (excl. iron ore mine) | +0.8% | | Residential | +1.6% | - On a weather-normal basis, retail deliveries of electricity (excluding the iron ore mine) increased by **1.1 percent** in the second quarter of 2025[5](index=5&type=chunk) [2025 Earnings Guidance](index=1&type=section&id=2025%20Earnings%20Guidance) The company reaffirmed its full-year 2025 earnings guidance, assuming normal weather conditions for the remainder of the year 2025 Earnings Guidance | Metric | Guidance Range | | :----- | :------------- | | EPS | $5.17 to $5.27 | Company Overview & Investor Information [About WEC Energy Group](index=2&type=section&id=About%20WEC%20Energy%20Group) WEC Energy Group is a premier energy company serving 4.7 million customers across four Midwestern states, operating through various principal utilities and a renewable generation subsidiary, and is recognized as a Fortune 500 company and an S&P 500 component - WEC Energy Group serves **4.7 million customers** in Wisconsin, Illinois, Michigan, and Minnesota[10](index=10&type=chunk) - Key subsidiaries include We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources, Upper Michigan Energy Resources, and We Power (electric generating plants); WEC Infrastructure LLC owns renewable generation facilities[11](index=11&type=chunk) - The company is a Fortune 500 company and a component of the S&P 500, with approximately **33,000 stockholders**, **7,000 employees**, and over **$48 billion in assets**[12](index=12&type=chunk) [Conference Call & Webcast Details](index=2&type=section&id=Conference%20Call%20%26%20Webcast%20Details) WEC Energy Group scheduled a conference call to discuss Q2 2025 earnings and future outlook, providing access details for live participation and subsequent replay via phone and webcast - A conference call to review Q2 2025 earnings and company outlook is scheduled for **1 p.m. Central time, Wednesday, July 30**[7](index=7&type=chunk) - Access to the live call is available via phone (**888-330-2443** or **240-789-2728** for international callers, Conference ID: **3088105**) or webcast at wecenergygroup.com[7](index=7&type=chunk)[8](index=8&type=chunk) - A replay will be available on the website approximately **two hours** after the call and via phone (**800-770-2030** or **647-362-9199** for international callers, Replay Conference ID: **3088105**) through **August 13, 2025**[9](index=9&type=chunk) Financial Statements [Condensed Consolidated Income Statements](index=4&type=section&id=Condensed%20Consolidated%20Income%20Statements) The condensed consolidated income statements show significant year-over-year growth in operating revenues, operating income, and net income for both the second quarter and the first six months of 2025, despite increases in operating expenses Condensed Consolidated Income Statement Highlights (Unaudited, in millions, except per share) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :------------------------------------- | :-------- | :-------- | :-------- | :-------- | | Operating revenues | $2,009.5 | $1,772.0 | $5,159.0 | $4,452.2 | | Total operating expenses | $1,604.6 | $1,407.2 | $3,816.6 | $3,274.0 | | Operating income | $404.9 | $364.8 | $1,342.4 | $1,178.2 | | Net income attributed to common shareholders | $245.4 | $211.3 | $969.6 | $833.6 | | Diluted EPS | $0.76 | $0.67 | $3.02 | $2.64 | | Dividends per share of common stock | $0.8925 | $0.8350 | $1.7850 | $1.6700 | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, WEC Energy Group's balance sheet shows an increase in total assets, primarily driven by growth in property, plant, and equipment, while common shareholders' equity also increased, reflecting a stronger financial position Condensed Consolidated Balance Sheet Highlights (Unaudited, in millions) | Metric | June 30, 2025 | December 31, 2024 | | :------------------------------------- | :------------ | :---------------- | | Total assets | $48,524.3 | $47,363.2 | | Current assets | $2,599.1 | $2,911.7 | | Property, plant, and equipment, net | $36,060.8 | $34,645.4 | | Total liabilities | $34,854.2 | $34,561.3 | | Current liabilities | $4,697.6 | $4,841.9 | | Long-term debt | $17,110.4 | $17,178.1 | | Common shareholders' equity | $13,223.1 | $12,395.0 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the first six months of 2025, net cash provided by operating activities increased, while net cash used in investing activities significantly rose due to higher capital expenditures and acquisitions; net cash used in financing activities decreased, leading to a net change in cash of $27.0 million Condensed Consolidated Cash Flow Highlights (Unaudited, in millions) | Metric | H1 2025 | H1 2024 | | :------------------------------------- | :-------- | :-------- | | Net cash provided by operating activities | $2,015.9 | $1,901.0 | | Net cash used in investing activities | $(1,972.8) | $(1,250.8) | | Net cash used in financing activities | $(16.1) | $(512.5) | | Net change in cash, cash equivalents, and restricted cash | $27.0 | $137.7 | - Capital expenditures increased to **$1,530.5 million** in H1 2025 from **$1,138.4 million** in H1 2024, and the company acquired Hardin Solar III Energy Center for **$406.1 million**[23](index=23&type=chunk) - Issuance of common stock, net, significantly increased to **$398.8 million** in H1 2025 from **$38.2 million** in H1 2024, while issuance of long-term debt decreased from **$2,074.2 million** to **$1,025.0 million**[23](index=23&type=chunk) Forward-Looking Statements & Risk Factors [Forward-Looking Statements Disclaimer](index=2&type=section&id=Forward-Looking%20Statements%20Disclaimer) This section clarifies that the press release contains forward-looking statements based on management's current expectations, which are subject to risks and uncertainties that could cause actual results to differ materially; readers are cautioned against undue reliance on these statements - Statements in the press release are 'forward-looking statements' under the Securities Act of 1933 and the Securities Exchange Act of 1934, based on management's current expectations[13](index=13&type=chunk) - These statements are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated[13](index=13&type=chunk) - Forward-looking terminology includes words like 'anticipates,' 'believes,' 'estimates,' 'expects,' 'forecasts,' 'guidance,' 'intends,' 'may,' 'objectives,' 'plans,' 'possible,' 'potential,' 'projects,' 'should,' 'targets,' 'will,' or similar terms[14](index=14&type=chunk) [Factors Affecting Future Results](index=3&type=section&id=Factors%20Affecting%20Future%20Results) A comprehensive list of factors that could materially affect the company's actual results includes general economic conditions, regulatory decisions, operational challenges, technological advancements, environmental concerns, and geopolitical developments, among others - Factors influencing actual results include general economic conditions, business and competitive conditions, timing and impact of rate cases and regulatory decisions, and the ability to integrate subsidiary operations[15](index=15&type=chunk) - Operational risks encompass availability of generating facilities, unanticipated changes in fuel costs, key personnel changes, severe weather, construction risks, labor disruptions, and supply chain issues[15](index=15&type=chunk) - Other significant factors include continued industry restructuring, advances in new technologies, energy and environmental conservation efforts, electrification initiatives, cybersecurity threats, equity and bond market fluctuations, changes in tax legislation, and political/geopolitical developments[15](index=15&type=chunk)

Core Viewpoint - WEC Energy Group is expected to report quarterly earnings of $0.71 per share, a 6% increase year-over-year, with revenues projected at $1.86 billion, reflecting a 4.9% year-over-year growth [1]. Earnings Projections - There has been a downward revision of 1.1% in the consensus EPS estimate over the last 30 days, indicating analysts' reassessment of their initial forecasts [2]. - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3]. Revenue Estimates - Analysts project 'Operating Revenues- Regulated Utility Operations-Wisconsin' to reach $1.42 billion, marking a 4.1% increase from the previous year [5]. - 'Operating Revenues- Regulated Utility Operations-Illinois' is estimated at $274.60 million, indicating a 0.8% decrease year-over-year [5]. - 'Operating Revenues- Total Utility Operations' is expected to be $1.78 billion, reflecting a 3.6% increase from the year-ago quarter [6]. - 'Operating Revenues- Non-Utility Energy Infrastructure' is forecasted to reach $189.33 million, showing a 7.8% increase year-over-year [6]. - 'Operating Revenues- Regulated Utility Operations- Other States' is estimated at $79.12 million, indicating an 11.4% year-over-year increase [7]. Stock Performance - Over the past month, WEC Energy shares have returned +6.2%, outperforming the Zacks S&P 500 composite's +4.9% change [7].

Core Points - WEC Energy Group Inc. will release its 2025 second-quarter earnings before the stock market opens on July 30, 2025 [1] - A conference call for investors and analysts is scheduled for the same day at 1 p.m. Central time [1] - Detailed financial information will be available on the company's website by 6:30 a.m. Central time on July 30 [1] Company Overview - WEC Energy Group is based in Milwaukee and serves 4.7 million customers across Wisconsin, Illinois, Michigan, and Minnesota [2] - 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 [3] - WEC Infrastructure LLC owns a fleet of renewable generation facilities in various states, including South Dakota and Texas [3] Financial Information - WEC Energy Group is a Fortune 500 company and a component of the S&P 500 [4] - The company has approximately 33,000 stockholders of record and 7,000 employees [4] - WEC Energy Group has more than $48 billion in assets [4]

Core Viewpoint - WEC Energy Group is expected to report a year-over-year increase in earnings and revenues, but actual results compared to estimates will significantly impact its stock price [1][2]. Earnings Expectations - The upcoming earnings report is anticipated to show quarterly earnings of $0.71 per share, reflecting a +6% change year-over-year, with revenues projected at $1.86 billion, up 4.9% from the previous year [3]. Estimate Revisions - The consensus EPS estimate has been revised 1.15% lower in the last 30 days, indicating a bearish sentiment among analysts regarding the company's earnings prospects [4][12]. Earnings Surprise Prediction - The Most Accurate Estimate for WEC Energy is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -1.41%, which complicates predictions of an earnings beat [12]. Historical Performance - In the last reported quarter, WEC Energy exceeded the expected earnings of $2.19 per share by delivering $2.27, achieving a surprise of +3.65%. Over the last four quarters, the company has beaten consensus EPS estimates three times [13][14]. Investment Considerations - Despite the potential for an earnings beat, other factors may influence stock movement, and the company does not currently appear to be a strong candidate for an earnings surprise [15][17].

Group 1 - The cost of living is consistently increasing each year, with the expectation that this trend will continue unless a significant economic downturn occurs [1] - The article discusses the author's journey towards financial independence through dividend growth investing, highlighting the importance of this strategy in achieving financial goals [2] - The author has been actively involved in the investment community since 2017 and has contributed to various financial platforms, indicating a commitment to sharing insights on dividend growth stocks [2] Group 2 - The article does not provide specific investment recommendations or guarantees regarding future performance, emphasizing the inherent uncertainties in investment decisions [3] - It is noted that the views expressed in the article may not represent the opinions of the broader Seeking Alpha community, highlighting the diversity of perspectives among contributors [3] - The article clarifies that the authors are not licensed investment advisers, which underscores the importance of conducting independent research before making investment decisions [3]

Company Overview - WEC Energy Group serves 4.5 million customers [4] - The company has assets of $31 billion [4] - Nearly 70% of the company's assets are located in Wisconsin [4] - WEC Energy Group is the 8th largest natural gas distribution utility in the U S [4] - It is also the 13th largest publicly traded utility in the U S [4] Financial Performance and Growth - The company targets 5-7 percent long-term EPS growth with minimal impact to base rates [3] - WEC Energy Group has demonstrated an 8% CAGR in EPS growth [6] - The company projects dividend growth to be in line with earnings growth [3] - There is no need to issue additional equity through the forecast period [3] Capital Investments and Clean Energy Initiatives - The company has a robust capital plan of $11.8 billion for 2018-2022 [13] - $5 billion (42%) is allocated to Gas Distribution [13] - $2.5 billion (21%) is allocated to Generation [13] - $2.5 billion (21%) is allocated to Electric Distribution [13] - $0.9 billion (8%) is allocated to Technology [13] - $0.9 billion (8%) is allocated to Energy Infrastructure [13] - The company plans to retire more than 1,800 megawatts of coal-fueled generation by 2020 [14] - The company plans to add more than 400 megawatts of natural gas-fueled generation by 2022 [14] - The company plans to invest in more than 350 megawatts of zero-carbon generation in Wisconsin [14] - The company aims to reduce CO₂ emissions to 40% below 2005 levels by 2030 and 80% below 2005 levels by 2050 [16] Shareholder Returns - WEC Energy Group's fifteen-year total shareholder return is 724 2% [10]

Company Overview - WEC Energy Group is the 13th largest publicly traded utility in the U S [7] - The company serves 4 5 million customers [9] - The company has approximately $31 billion in assets, with nearly 70 percent of assets located in Wisconsin [9] - WEC Energy Group is the 8th largest natural gas distribution utility in the U S [9] Financial Performance and Growth - The company has demonstrated a decade of EPS growth [11, 12] with 8% CAGR - The company has shown industry-leading dividend growth, marking the 15th consecutive year of increased dividends in 2018 [13, 14] - WEC Energy Group's fifteen-year total shareholder return is 724 2% [15] Capital Plan and Investments - The company has a robust, executable capital plan for 2018-2022 totaling $11 8 billion [19, 25] - The capital plan allocates $2 5 billion (21%) to generation [21, 24, 25], $5 0 billion (42%) to gas distribution [24, 25], $0 9 billion (8%) to technology [22, 24, 25], $2 5 billion (21%) to electric distribution [24], and $0 9 billion (8%) to energy infrastructure [25] Environmental Goals - The company is achieving its carbon reduction goals [26, 27]

Core Viewpoint - We Energies has decided to extend the operating lives of units 7 and 8 at the Oak Creek Power Plant until the end of 2026 to address increased energy demand and supply requirements in the Midwest power market [1][2][3] Company Operations - The Oak Creek units 7 and 8, built in the 1960s, have a total capacity of 610 megawatts (MW) and are equipped with modern environmental controls [3] - We Energies is planning, permitting, or constructing over 6,300 MW of new generation capacity, including natural gas, wind, solar, and battery storage, over the next five years [4] - The extension of the Oak Creek units is not expected to delay the new generation projects [4] Customer Base - We Energies serves more than 1.1 million electric customers and 1.1 million natural gas customers in Wisconsin [5]