WEC Energy Group, Inc. (WEC) Earnings
WEC Energy Group, Inc. is expected to report next earnings on July 29, 2026 (in NaN days), with a consensus EPS estimate of $0.82. WEC has beaten EPS estimates in 10 of its last 12 reported quarters (average surprise +4.7% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $2.30 | $2.45 | +6.5% | $3.4B | +3.4% |
| Feb 5, 2026 | $1.39 | $1.42 | +2.2% | $2.5B | +18.3% |
| Oct 30, 2025 | $0.81 | $0.83 | +2.5% | $2.1B | +11.1% |
| Jul 30, 2025 | $0.70 | $0.76 | +7.8% | $2.0B | +13.8% |
| Feb 4, 2025 | $1.49 | $1.43 | -4.0% | $2.3B | -10.7% |
| Oct 31, 2024 | $0.70 | $0.82 | +17.1% | $1.9B | -3.6% |
| Jul 31, 2024 | $0.64 | $0.67 | +4.7% | $1.8B | -5.4% |
| May 1, 2024 | $1.92 | $1.97 | +2.6% | $2.7B | -8.3% |
| Feb 1, 2024 | $1.10 | $1.10 | +0.0% | $2.2B | -25.3% |
| Oct 31, 2023 | $0.91 | $1.00 | +9.9% | $2.0B | -3.2% |
| Aug 1, 2023 | $0.85 | $0.92 | +8.2% | $1.8B | -10.9% |
| May 1, 2023 | $1.59 | $1.61 | +1.3% | $2.9B | +1.2% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 5, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Strong economic growth in the region is the foundation of the robust capital plan, with significant economic development in Wisconsin like Microsoft, Vantage Data Centers, Milwaukee Tool, Waukesha Engine, and good housing development. - Five-year capital plan includes $37.5 billion of projected investments, with ~15% of asset base attributable to very large customers by 2030. - Projected long-term earnings per share growth of 7% to 8% from 2026 to 2030, accelerating to upper half of range starting in 2028. - Update on capital projects: Solar facility went into service in March with ~$225 million capital, Wisconsin Commission approved purchase of additional solar and battery storage projects with ~$730 million investment, construction continues on natural gas facilities in Paris and Oak Creek, plans to extend operating lives of units seven and eight at Oak Creek. - Regulatory update: Wisconsin VLC tariff verbally approved on April 24th, expected written order in weeks; filed rate requests for non-VLC customers in Wisconsin for 2027 and 2028; filed proposed settlement with Illinois Commerce Commission regarding uncollectible and QIP riders.
Guidance
- Reaffirming 2026 earnings guidance of $5.51 to $5.61 per share assuming normal weather for the rest of the year. - Second quarter expected range of 76 to 82 cents per share, accounting for April weather and assuming normal weather for the rest of the quarter. - Board increased dividend by 6.7% in January, marking 23rd consecutive year of higher dividends, consistent with plan to grow dividend rate at 6.5% to 7%.
Segment performance
First quarter 2026 earnings were $2.45 a share. Utility operations earnings were 17 cents higher vs Q1 2025, with weather negatively impacting by ~2 cents, rate-based growth contributing $0.17 including AFUDC, day-to-day O&M $0.05 favorable. American Transmission Company earnings increased a penny. Energy infrastructure segment earnings 4 cents higher, driven by WEC infrastructure operating income and HARTEN III solar project. Corporate and other segments earnings increased 3 cents due to favorable tax timing. Weather normal retail electric deliveries excluding iron ore mine saw 1.3% growth, led by large commercial and industrial class growing 3%.
Analyst Q&A
Q: Alex from Wells Fargo asks about additional interest from other hyperscaler customers in the state and strategy around attracting new customers despite local opposition.
A: There's tremendous growth on already available sites with 3.9 gigawatts in five-year plan, in discussions with a few others, and optimistic with final VLC tariff.
Q: Richard Sunderland from Truist Securities asks about VLC tariff revisions and ramifications on plan and impact on economic development.
A: Load going down to 100 megawatts doesn't affect current customers, and moving to 100 is positive as it opened door for smaller data centers.
Q: Nick Campanella from Barclays asks about ability to execute on hyperscaler capacity from supply chain and equipment standpoint and third quarter update.
A: Confident in execution, early to talk about third quarter details but feel good about update then.
Q: Julian DeMuvins-Smith from Jefferies asks about VLC tariff enabling other data developers and expansion opportunity, and Point Beach enabling data centers.
A: VLC tariff provides transparency, and Point Beach is being considered for native load and affordability.
Q: Andrew Wisell from Scotiabank asks about referendum on data centers and impact on growth.
A: Referendum should not affect data center growth outlined, and only isolated in some areas.
Q: Michael Sullivan from Wolf Research asks about Illinois rate case cadence and remaining coal fleet options.
A: Anticipates annual rate case cadence for Illinois, and remaining coal units are being considered for conversion to natural gas following EPA rules.
Q: Carly Davenport from Goldman Sachs asks about construction activity at Vantage site and timing.
A: No slippage seen, in contact with site regularly, and transmission line approval expected in fall.
Q: Paul Fremont from Leidenberg asks about replacement capacity for Point Beach, uplift in recontracting non-regulated renewables, and Microsoft council plant.
A: Replacement capacity may be a combination of renewables and gas, there's opportunity to get more PTCs for renewables, and communities are looking at potential benefits of data centers.