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Jun 30, 2020
WEC Energy Q2 2020 Earnings Report
Reported solid results despite challenges from COVID-19 pandemic, driven by operating efficiency and warmer-than-normal weather.
Key Takeaways
WEC Energy Group reported net income of $241.6 million, or 76 cents per share, for the second quarter of 2020, up from $235.7 million, or 74 cents per share, for the second quarter last year.
Net income increased to $241.6 million, or 76 cents per share, for the second quarter of 2020.
Residential electricity use rose by 17.1 percent due to stay-at-home orders.
Retail deliveries of electricity, excluding the iron ore mine, were down by 2.7 percent.
The company reaffirmed its earnings guidance for 2020 in the range of $3.71 to $3.75 per share.
Forward Guidance
The company is reaffirming its earnings guidance for 2020 in the range of $3.71 to $3.75 per share with an expectation of reaching the top end of the range. This assumes normal weather for the remainder of the year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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