WEC Energy Group (WEC) Beats Q2 Earnings Estimates

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]