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MILWAUKEE - On Wednesday, WEC Energy Group (NYSE:WEC) reported second-quarter earnings that exceeded analyst expectations, driven by warmer summer temperatures and improved operational efficiency.
The company’s stock rose 0.80% in after hours trading following the announcement.
The Milwaukee-based utility posted adjusted earnings of $0.76 per share for the second quarter, surpassing the analyst consensus of $0.72. Revenue reached $2.01 billion, beating estimates of $1.88 billion and representing a 13.4% increase from $1.77 billion in the same quarter last year.
"A warm start to the summer, steady execution of our capital plan and a continued focus on operating efficiency were major factors that shaped a strong quarter," said Scott Lauber, president and CEO of WEC Energy Group.
Retail electricity deliveries increased by 1.0% compared to the second quarter of 2024, with residential electricity use rising 1.6%. On a weather-normalized basis, retail electricity deliveries grew by 1.1%.
The company reaffirmed its full-year 2025 earnings guidance of $5.17 to $5.27 per share, which aligns with the analyst consensus of $5.23. This guidance assumes normal weather conditions for the remainder of the year.
For the first half of 2025, WEC Energy reported net income of $969.6 million, or $3.02 per share, up from $833.6 million, or $2.64 per share, in the corresponding period of 2024. Consolidated revenues for the six-month period totaled $5.2 billion, an increase of $706.8 million from the first half of 2024.
WEC Energy Group serves 4.7 million customers across Wisconsin, Illinois, Michigan, and Minnesota through its principal utilities and manages over $48 billion in assets.
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