WEC Energy(US:WEC)2025-10-30 11:26Financial Performance - WEC Energy Group reported net income of $271.3 million, or 83 cents per share, for Q3 2025, an increase from $240.1 million, or 76 cents per share, in Q3 2024[2] - For the nine months ended September 30, 2025, net income was $1.24 billion, or $3.85 per share, up from $1.07 billion, or $3.40 per share, in the same period last year[4] - Operating income for the nine months ended September 30, 2025, was $1.79 billion, up from $1.56 billion in the same period last year[21] - Net income for the nine months ended September 30, 2025, was $1,238.7 million, compared to $1,071.2 million for the same period in 2024, reflecting an increase of 15.6%[26] Revenue and Deliveries - Consolidated revenues for the nine months ended September 30, 2025, totaled $7.3 billion, an increase of $947.3 million compared to the prior year[4] - Operating revenues for Q3 2025 were $2.1 billion, compared to $1.86 billion in Q3 2024[21] - Retail electricity deliveries increased by 1.9% in Q3 2025 compared to Q3 2024, with residential electricity use rising by 2.1%[5][6] - The company reported a 2.5% increase in electricity use by large commercial and industrial customers, excluding the iron ore mine[6] Guidance and Dividends - The company reaffirmed its 2025 earnings guidance of $5.17 to $5.27 per share, assuming normal weather conditions for the remainder of the year[7] - Dividends per share of common stock increased to $0.8925 in Q3 2025 from $0.8350 in Q3 2024[21] Assets and Liabilities - Total assets increased to $49,808.9 million as of September 30, 2025, up from $47,363.2 million on December 31, 2024, representing a growth of 5.1%[23] - Common shareholders' equity increased to $13,568.4 million as of September 30, 2025, from $12,395.0 million on December 31, 2024, a rise of 9.5%[23] - Long-term liabilities increased to $30,747.8 million as of September 30, 2025, compared to $29,719.4 million on December 31, 2024, an increase of 3.5%[23] Cash Flow and Expenditures - Net cash provided by operating activities was $2,954.8 million for the nine months ended September 30, 2025, compared to $2,630.0 million in 2024, an increase of 12.3%[26] - Capital expenditures rose to $3,095.1 million in the nine months ended September 30, 2025, compared to $1,934.7 million in 2024, indicating a significant increase of 60.0%[26] - Cash and cash equivalents at the end of the period were $117.7 million, down from $361.0 million at the end of the same period in 2024, a decrease of 67.4%[26] Acquisitions and Market Presence - The company made an acquisition of Hardin Solar III Energy Center for $406.1 million during the nine months ended September 30, 2025[26] - WEC Energy Group serves approximately 4.7 million customers across multiple states, indicating a strong market presence[13] Accounts Receivable - The company reported a decrease in accounts receivable and unbilled revenues, net of reserves, to $1,269.5 million as of September 30, 2025, from $1,669.3 million on December 31, 2024, a decline of 23.9%[23]