WEC Energy(WEC) ZACKS·2025-05-07 14:05Company Performance - WEC Energy Group reported first-quarter 2025 earnings of $2.27 per share, exceeding the Zacks Consensus Estimate of $2.19 by 3.7% and increasing 15.2% from $1.97 in the same quarter last year [1] - Operating revenues reached $3.15 billion, surpassing the Zacks Consensus Estimate of $2.82 billion by approximately 11.9% and increasing 17.5% from $2.68 billion in the year-ago quarter [1] Revenue and Consumption - Electricity consumption by small commercial and industrial customers rose by 2.1% in the first quarter, while large commercial and industrial customers, excluding the iron ore mine, saw a 1.1% increase year over year [2] - Total electric sales volume for the quarter was 10,628.8 thousand megawatt-hours, reflecting a 1.1% year-over-year increase [2] Expenses and Financials - Total operating expenses amounted to $2.21 billion, up 18.2% from $1.87 billion in the previous year, driven by higher cost of sales and increased operational and maintenance expenses [3] - Operating income was $937.5 million, a 15.2% increase from $813.4 million in the year-ago quarter [3] - Interest expense was $223 million, up 16.1% from $192 million in the prior year [3] Financial Position - As of March 31, 2025, WEC had cash and cash equivalents of $82.2 million, significantly up from $9.8 million as of December 31, 2024 [4] - Long-term debt decreased to $16.2 billion from $17.2 billion as of December 31, 2024 [4] - Net cash provided by operating activities during the first three months of 2025 was $1.16 billion, compared to $0.86 billion in the same period last year [4] Guidance - WEC reaffirmed its 2025 earnings projection in the range of $5.17-$5.27 per share, with the Zacks Consensus Estimate at $5.24 per share, higher than the midpoint of the company's guidance [5] - The company plans to invest $28 billion during the 2025-2029 period [5] Zacks Rank - WEC currently holds a Zacks Rank 2 (Buy) [6]