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MILWAUKEE - Tuesday, WEC Energy Group (NYSE:WEC) reported fourth quarter earnings that fell short of analyst expectations, while reaffirming its outlook for 2025.
The utility company’s stock edged up 0.43% following the release.
WEC Energy posted adjusted earnings per share of $1.10 for Q4 2024, missing the analyst consensus estimate of $1.47 by $0.37. Revenue for the quarter came in at $2.28 billion, below the $2.56 billion analysts were expecting.
For the full year 2024, WEC Energy reported adjusted earnings of $4.88 per share, up 5.4% from $4.63 per share in 2023.
"We delivered another year of solid results on virtually every meaningful measure - from customer satisfaction, to financial performance to steady execution of our capital plan," said Scott Lauber, president and CEO.
The company reaffirmed its earnings guidance for 2025, projecting EPS in the range of $5.17 to $5.27. The midpoint of $5.22 represents 7.6% growth from WEC’s 2024 adjusted guidance midpoint of $4.85 per share.
WEC Energy reported that retail electricity deliveries, excluding an iron ore mine, increased 0.5% in 2024 compared to the previous year. Residential electricity use rose 0.5%, while natural gas deliveries in Wisconsin decreased 2.9% during the year.
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