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Mar 31, 2021
WEC Energy Q1 2021 Earnings Report
Reported solid first-quarter results driven by colder weather and economic recovery.
Key Takeaways
WEC Energy Group reported a strong first quarter with increased net income and consolidated revenues. The company's performance was driven by colder weather, economic recovery, and a focus on operational excellence.
Net income increased to $510.1 million, or $1.61 per share, up from $452.5 million, or $1.43 per share, in the first quarter of 2020.
Consolidated revenues rose to $2.7 billion, an increase of $582.8 million compared to the previous year's first quarter.
Natural gas deliveries in Wisconsin, excluding power generation, increased by 3.2 percent.
Retail electricity deliveries, excluding the iron ore mine, increased by 1.1 percent.
Forward Guidance
The company expects to reach the top end of its earnings guidance for 2021, which is in a range of $3.99 to $4.03 per share, assuming normal weather for the remainder of the year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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