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WEC Energy Q1 Earnings Surpass Estimates, Revenues Increase Y/Y
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Key Takeaways
WEC posted Q1 EPS of $2.45, beating estimates and rising 7.9% from the prior-year quarter.
WEC revenue rose 9% year over year to $3.43B, driven by higher electricity consumption.
WEC plans $37.5B in investments through 2030 to support long-term EPS growth of 7-8%.
WEC Energy Group (WEC - Free Report) reported first-quarter 2026 earnings of $2.45 per share, which surpassed the Zacks Consensus Estimate of $2.33 by 5.15%. The bottom line also increased 7.93% from the year-ago quarter’s $2.27.
WEC’s Revenues
Operating revenues of $3.43 billion surpassed the Zacks Consensus Estimate of $3.21 billion by around 6.98%. The top line also increased 9.02% from $3.15 billion recorded in the year-ago quarter.
WEC Energy Group, Inc. Price, Consensus and EPS Surprise
In the first quarter of 2026, electricity consumption increased 0.7% for small commercial and industrial customers, 2.7% for large commercial and industrial customers, excluding the iron-ore mine, and 0.2% for residential customers.
On a weather-normal basis, retail deliveries of electricity, excluding the iron-ore mine, increased 1.3%.
Total operating expenses were $2.45 billion, up 10.95% from the year-ago level of $2.21 billion, primarily due to higher cost of sales.
Operating income totaled $980 million, up 4.53% from $937.5 million recorded in the year-ago quarter.
The company incurred an interest expense of $228.5 million, up 2.47% from the prior-year level of $223 million.
WEC’s Financial Position
As of March 31, 2026, WEC had cash and cash equivalents of $45.6 million compared with $27.6 million as of Dec. 31, 2025.
As of March 31, 2026, the company had a long-term debt of $19.38 billion compared with $18.50 billion as of Dec. 31, 2025.
Net cash provided by operating activities during the first three months of 2026 was $1.22 billion compared with $1.16 billion in the year-ago period.
WEC’s Guidance
WEC reaffirmed its 2026 earnings outlook of $5.51-$5.61 per share. The Zacks Consensus Estimate is pegged at $5.60, which lies at the higher end of the company’s projected range.
The company plans to invest a total of $7.4 billion in modern, efficient natural gas generation and LNG storage, and $12.6 billion to add 6,535 megawatts in renewable energy over the 2026-2030 period.
WEC Energy expects to invest $37.5 billion during the 2026-2030 period, which supports 7-8% long-term EPS growth. The company plans to invest $5.67 billion in 2026.
Algonquin Power & Utilities Corp. (AQN - Free Report) is scheduled to report first-quarter results on May 8. The Zacks Consensus Estimate for first-quarter EPS is pinned at 11 cents, which implies a year-over-year decrease of 21.43%.
The Zacks Consensus Estimate for first-quarter sales is pinned at $697.9 million, which suggests year-over-year growth of 0.79%.
PPL Corporation (PPL - Free Report) is scheduled to report first-quarter results on May 8. The Zacks Consensus Estimate for first-quarter EPS is pinned at 61 cents, which implies a year-over-year increase of 1.67%.
The Zacks Consensus Estimate for first-quarter sales is pinned at $2.62 billion, which suggests year-over-year growth of 4.65%.
Global Water Resources, Inc. (GWRS - Free Report) is scheduled to report first-quarter results on May 14. The Zacks Consensus Estimate for first-quarter EPS is pinned at a loss of 2 cents, which implies a year-over-year decrease of 200%.
The Zacks Consensus Estimate for first-quarter sales is pinned at $13.0 million, which suggests year-over-year growth of 4.33%.
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WEC Energy Q1 Earnings Surpass Estimates, Revenues Increase Y/Y
Key Takeaways
WEC Energy Group (WEC - Free Report) reported first-quarter 2026 earnings of $2.45 per share, which surpassed the Zacks Consensus Estimate of $2.33 by 5.15%. The bottom line also increased 7.93% from the year-ago quarter’s $2.27.
WEC’s Revenues
Operating revenues of $3.43 billion surpassed the Zacks Consensus Estimate of $3.21 billion by around 6.98%. The top line also increased 9.02% from $3.15 billion recorded in the year-ago quarter.
WEC Energy Group, Inc. Price, Consensus and EPS Surprise
WEC Energy Group, Inc. price-consensus-eps-surprise-chart | WEC Energy Group, Inc. Quote
Highlights of WEC’s Earnings Release
In the first quarter of 2026, electricity consumption increased 0.7% for small commercial and industrial customers, 2.7% for large commercial and industrial customers, excluding the iron-ore mine, and 0.2% for residential customers.
On a weather-normal basis, retail deliveries of electricity, excluding the iron-ore mine, increased 1.3%.
Total operating expenses were $2.45 billion, up 10.95% from the year-ago level of $2.21 billion, primarily due to higher cost of sales.
Operating income totaled $980 million, up 4.53% from $937.5 million recorded in the year-ago quarter.
The company incurred an interest expense of $228.5 million, up 2.47% from the prior-year level of $223 million.
WEC’s Financial Position
As of March 31, 2026, WEC had cash and cash equivalents of $45.6 million compared with $27.6 million as of Dec. 31, 2025.
As of March 31, 2026, the company had a long-term debt of $19.38 billion compared with $18.50 billion as of Dec. 31, 2025.
Net cash provided by operating activities during the first three months of 2026 was $1.22 billion compared with $1.16 billion in the year-ago period.
WEC’s Guidance
WEC reaffirmed its 2026 earnings outlook of $5.51-$5.61 per share. The Zacks Consensus Estimate is pegged at $5.60, which lies at the higher end of the company’s projected range.
The company plans to invest a total of $7.4 billion in modern, efficient natural gas generation and LNG storage, and $12.6 billion to add 6,535 megawatts in renewable energy over the 2026-2030 period.
WEC Energy expects to invest $37.5 billion during the 2026-2030 period, which supports 7-8% long-term EPS growth. The company plans to invest $5.67 billion in 2026.
WEC’s Zacks Rank
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Utilities Releases
Algonquin Power & Utilities Corp. (AQN - Free Report) is scheduled to report first-quarter results on May 8. The Zacks Consensus Estimate for first-quarter EPS is pinned at 11 cents, which implies a year-over-year decrease of 21.43%.
The Zacks Consensus Estimate for first-quarter sales is pinned at $697.9 million, which suggests year-over-year growth of 0.79%.
PPL Corporation (PPL - Free Report) is scheduled to report first-quarter results on May 8. The Zacks Consensus Estimate for first-quarter EPS is pinned at 61 cents, which implies a year-over-year increase of 1.67%.
The Zacks Consensus Estimate for first-quarter sales is pinned at $2.62 billion, which suggests year-over-year growth of 4.65%.
Global Water Resources, Inc. (GWRS - Free Report) is scheduled to report first-quarter results on May 14. The Zacks Consensus Estimate for first-quarter EPS is pinned at a loss of 2 cents, which implies a year-over-year decrease of 200%.
The Zacks Consensus Estimate for first-quarter sales is pinned at $13.0 million, which suggests year-over-year growth of 4.33%.