WEC Energy Group reports third-quarter results
WEC ENERGY GROUP, INC. (WEC) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 From: Brendan Conway (media) 414-221-4444 brendan.conway@wecenergygroup.com Beth Straka (investment community) 414-221-4639 beth.straka@wecenergygroup.com Oct. 29, 2026 WEC Energy Group reports third-quarter results MILWAUKEE – WEC Energy Group (NYSE: WEC) today repo
How this was made
The 30-second read
Why it matters
The guidance raise is the primary market‑moving element, likely prompting short‑term buying.
Market read
The earnings beat and guidance raise make WEC a near‑term buying candidate for utility and dividend investors.
What to watch
Potential regulatory rate case outcomes could offset the guidance improvement.
WEC Energy Group reports third-quarter results
Third-quarter net income attributed to common shareholders rose to $ 389.3 million from $ 271.3 million, while diluted earnings per share increased to $ 1.18 from $ 0.83. The company raised and narrowed its 2026 fully diluted earnings-per-share guidance to $5.60 to $5.64 per share.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Operating revenues, three months ended September 30, 2026other | $2.29B | – | – |
| Operating revenues, nine months ended September 30, 2026other | $7.79B | – | up $523.9 million |
| Cost of sales, three months ended September 30, 2026other | 651.2M | – | – |
| Other operation and maintenance, three months ended September 30, 2026other | 614.4M | – | – |
| Depreciation and amortization, three months ended September 30, 2026other | 389M | – | – |
| Property and revenue taxes, three months ended September 30, 2026other | 72.3M | – | – |
| Total operating expenses, three months ended September 30, 2026other | 1.73B | – | – |
| Operating income, three months ended September 30, 2026other | 563.7M | – | – |
| Equity in earnings of transmission affiliates, three months ended September 30, 2026other | 65.8M | – | – |
| Other income, net, three months ended September 30, 2026other | 49.5M | – | – |
| Interest expense, three months ended September 30, 2026other | 241.7M | – | – |
| Income tax expense, three months ended September 30, 2026other | 47M | – | – |
| Net income, three months ended September 30, 2026other | 390.3M | – | – |
| Net income attributed to common shareholders, three months ended September 30, 2026other | $389.3M | – | – |
| Diluted earnings per share, three months ended September 30, 2026other | $ 1.18 | – | – |
| Basic earnings per share, three months ended September 30, 2026other | $ 1.19 | – | – |
| Net income attributed to common shareholders, nine months ended September 30, 2026other | $1.49B | – | – |
| Diluted earnings per share, nine months ended September 30, 2026other | $ 4.54 | – | – |
| Operating income, nine months ended September 30, 2026other | 1.98B | – | – |
| Net cash provided by operating activities, nine months ended September 30, 2026other | 3.41B | – | – |
| Capital expenditures, including AFUDC-Debt, nine months ended September 30, 2026other | −3.32B | – | – |
| Net cash used in investing activities, nine months ended September 30, 2026other | −3.60B | – | – |
| Net cash provided by financing activities, nine months ended September 30, 2026other | 246.3M | – | – |
Amounts quoted below without a unit are in millions, as in the filing’s tables. Per-share figures are as printed.
2026 outlook
- NoteEarnings guidance: $5.60 to $5.64 per share
- NoteAssumes normal weather for the remainder of the year.
- NoteEarnings per share listed in this news release are on a fully diluted basis.
Capital returns
- Dividends per share of common stock, three months ended September 30, 2026: $ 0.9525; 2025: $ 0.8925.
- Dividends per share of common stock, nine months ended September 30, 2026: $ 2.8575; 2025: $ 2.6775.
- Dividends paid on common stock, nine months ended September 30, 2026: (930.8) (in millions); 2025: (857.4) (in millions).
- Issuance of common stock, net, nine months ended September 30, 2026: 382.5 (in millions); 2025: 746.6 (in millions).
What drove it
- Management cited warmer-than-normal weather, execution of its capital plan and operating efficiency as drivers of strong results.
- Retail deliveries of electricity, excluding the iron ore mine in Michigan’s Upper Peninsula and Very Large Customers in Wisconsin, were up by 3.3 percent in the third quarter of 2026 compared to the third quarter last year.
- Residential electricity use rose by 5.1 percent, small commercial and industrial customer consumption was 3.5 percent higher, and large commercial and industrial customer use, excluding the iron ore mine and VLCs, increased by 1.0 percent.
- On a weather-normal basis, retail electricity deliveries, excluding the iron ore mine and VLCs, increased by 0.4 percent.
- The company cited favorable weather and capital investment supported by VLCs in raising and narrowing guidance.
Concerns
- The guidance assumes normal weather for the remainder of the year, while management identified warmer-than-normal weather as a driver of third-quarter results.
- Interest expense for the three months ended September 30, 2026 was 241.7 (in millions), compared with 223.6 (in millions) in 2025.
- Capital expenditures, including AFUDC-Debt, for the nine months ended September 30, 2026 were (3,318.7) (in millions).
- Long-term debt at September 30, 2026 was 19,717.2 (in millions), compared with 18,498.1 (in millions) at December 31, 2025.
What to watch
- Retail electricity deliveries on a weather-normal basis for the remainder of 2026.
- Execution of the capital plan and capital investment supported by VLCs.
- The company’s ability to deliver its $5.60 to $5.64 per share 2026 guidance range under normal weather assumptions.
- Interest expense, long-term debt issuance and retirement activity, and capital expenditures.
Balance sheet and cash flow
- Cash and cash equivalents at September 30, 2026: $ 58.8 (in millions); December 31, 2025: $ 27.6 (in millions).
- Short-term debt at September 30, 2026: $ 1,904.3 (in millions); December 31, 2025: $ 1,924.7 (in millions).
- Current portion of long-term debt at September 30, 2026: $ 1,134.5 (in millions); December 31, 2025: $ 1,519.4 (in millions).
- Long-term debt at September 30, 2026: 19,717.2 (in millions); December 31, 2025: 18,498.1 (in millions).
- Total assets at September 30, 2026: $ 53,897.5 (in millions); December 31, 2025: $ 51,518.3 (in millions).
- Property, plant, and equipment, net at September 30, 2026: 40,791.3 (in millions); December 31, 2025: 38,278.1 (in millions).
- Issuance of long-term debt, nine months ended September 30, 2026: 2,395.6 (in millions); 2025: 1,944.6 (in millions).
- Retirement of long-term debt, nine months ended September 30, 2026: (1,558.5) (in millions); 2025: (1,285.9) (in millions).
- Net change in cash, cash equivalents, and restricted cash, nine months ended September 30, 2026: 59.6 (in millions); 2025: 75.5 (in millions).
Analysis
WEC Energy Group reported higher third-quarter operating revenues of $ 2,290.6 (in millions), net income attributed to common shareholders of $ 389.3 (in millions), and diluted earnings per share of $ 1.18, compared with $ 2,104.0 (in millions), $ 271.3 (in millions), and $ 0.83, respectively, in the prior-year quarter. Nine-month operating revenues totaled $ 7,786.9 (in millions), up $523.9 million from the comparable 2025 period, while net income attributed to common shareholders was $ 1,492.9 (in millions) and diluted earnings per share was $ 4.54.
Management attributed the quarter’s result to warmer-than-normal weather, capital-plan execution and operating efficiency. Reported retail electricity deliveries, excluding the iron ore mine and VLCs, were up by 3.3 percent. The reported mix included a 5.1 percent increase in residential use, a 3.5 percent increase for small commercial and industrial customers, and a 1.0 percent increase for large commercial and industrial customers excluding the iron ore mine and VLCs. On a weather-normal basis, the same retail-delivery measure increased by 0.4 percent, highlighting the role of weather in the reported demand result.
Operating income for the third quarter was 563.7 (in millions), compared with 449.6 (in millions) a year earlier. Cost of sales, other operation and maintenance, depreciation and amortization, property and revenue taxes, and interest expense were also higher than in the prior-year quarter. Equity in earnings of transmission affiliates was 65.8 (in millions), compared with 54.8 (in millions), and other income, net was 49.5 (in millions), compared with 23.8 (in millions).
Cash flow from operations for the first nine months was 3,413.1 (in millions), while capital expenditures, including AFUDC-Debt, were (3,318.7) (in millions). Financing activity included 2,395.6 (in millions) of long-term debt issuance, (1,558.5) (in millions) of long-term debt retirement, and (930.8) (in millions) of common dividends paid. Cash and cash equivalents were $ 58.8 (in millions) at September 30, 2026, and long-term debt was 19,717.2 (in millions).
The company raised and narrowed its 2026 fully diluted earnings-per-share guidance to $5.60 to $5.64 per share from its previously announced range of $5.51 to $5.61 per share. Management cited favorable weather and capital investment supported by VLCs, and the updated outlook assumes normal weather for the remainder of the year. The key reported swing factor is whether demand and operating performance continue under that weather assumption while the company funds its capital program and manages interest expense.
Management, verbatim
Our strong results were driven by warmer-than-normal weather, execution of our capital plan and operating efficiency.
Scott Lauber, chairman, president and CEO
Our continued focus on the fundamentals of our business is creating value for our customers and stockholders. We remain on track to deliver solid financial and operational performance in 2026.
Scott Lauber, chairman, president and CEO
Not in the filing
stated, not guessed- No segment revenue or segment profitability was reported.
- No gross margin was reported.
- No non-GAAP financial measures, adjusted earnings, or non-GAAP earnings per share were reported.
- No free cash flow metric was reported.
- No share repurchases were reported.
- No quarterly operating cash flow, investing cash flow, financing cash flow, or capital expenditure figure was reported.
- No prior release outlook section was provided; therefore, no actual-versus-prior-guidance comparison is included.
- No percentage year-over-year or sequential changes were printed for the financial-statement line items.
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
WEC Energy Group reported Q3 2026 results, showing higher net income and revenue, and updated its full‑year earnings guidance.
Ticker impact
WEC Energy Group raised its 2026 earnings guidance to $5.60‑$5.64 per share, up from the prior $5.51‑$5.61 range.
upward pressure as investors price in higher earnings expectations
The company cited warmer weather and capital plan execution, and the guidance lift exceeds prior guidance, which typically drives buying interest.
Market effects
Utility sector may see modest uplift as a large S&P 500 utility improves its outlook.
Midwest utility investors could benefit from the guidance raise.
Limited; primarily affects US utility and dividend‑focused investors.
Counterpoint
If the guidance assumes normal weather, any adverse climate could pressure earnings, making the raise less secure.
Key entities
- CompanyWEC Energy Group
U.S. utility serving the Midwest, listed on NYSE.
