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Jun 30, 2021
WEC Energy Q2 2021 Earnings Report
WEC Energy Group's financial performance improved in the second quarter of 2021, with increased net income and earnings per share compared to the same period last year.
Key Takeaways
WEC Energy Group reported a strong second quarter with increased net income driven by a recovering economy, gains in operating efficiency, and warmer temperatures. The company is raising its earnings guidance for the year.
Net income increased to $276.0 million, or 87 cents per share, up from $241.6 million, or 76 cents per share, in Q2 2020.
Retail deliveries of electricity, excluding the iron ore mine, rose by 7.1 percent compared to the second quarter last year.
Electricity consumption by small commercial and industrial customers increased by 10.4 percent.
The company is raising its earnings guidance for 2021 to a range of $4.02 to $4.05 per share.
Forward Guidance
WEC Energy Group raised its earnings guidance for 2021 to a range of $4.02 to $4.05 per share, expecting to reach the top end of the range, 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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