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Investing.com - WEC Energy Group (NYSE:WEC) reported first-quarter earnings that exceeded analyst expectations, driven by economic growth and operational efficiency.
The company’s stock edged up 0.3% following the announcement.
The Milwaukee-based utility company posted adjusted earnings per share of $2.27 for the first quarter of 2025, surpassing the analyst consensus of $1.97 by $0.30.
Revenue for the quarter came in at $3.15 billion, beating estimates of $2.87 billion and representing a 17.5% increase YoY from $2.68 billion.
WEC Energy’s net income rose to $724.2 million, up from $622.3 million in the same quarter last year.
The company attributed its strong performance to continued economic growth in its service region and a focus on operational excellence.
"Our positive first-quarter results were driven by continued economic growth in our region and a strong focus on operating excellence," said Scott Lauber, president and CEO of WEC Energy Group.
Natural gas deliveries in Wisconsin, excluding usage for power generation, increased by 15.5% compared to the first quarter of 2024. Retail electricity deliveries, excluding an iron ore mine in Michigan’s Upper Peninsula, rose by 2.9%.
WEC Energy reaffirmed its full-year 2025 earnings guidance of $5.17 to $5.27 per share, assuming normal weather conditions for the remainder of the year.
The midpoint of this range aligns closely with the current analyst consensus of $5.24 per share.
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