WEC Energy Q2 2023 Earnings Report

Reported a solid second quarter, with net income increasing slightly compared to the previous year.

Key Takeaways

WEC Energy Group reported a slight increase in net income for the second quarter of 2023, rising to $289.7 million, or 92 cents per share, compared to $287.5 million, or 91 cents per share, in the same quarter of the previous year. The company reaffirms its 2023 annual earnings guidance of $4.58 to $4.62 per share.

Net income for Q2 2023 was $289.7 million, or 92 cents per share, up from $287.5 million, or 91 cents per share, in Q2 2022.

For the first six months of 2023, net income was $797.2 million, or $2.52 per share, down from $853.4 million, or $2.70 per share, in the corresponding period last year.

Consolidated revenues totaled $4.7 billion for the first six months of 2023, down $317.9 million from the first half of 2022.

The company is reaffirming its 2023 annual earnings guidance of $4.58 to $4.62 per share, assuming normal weather for the remainder of the year.

Total Revenue

$1.83B

Previous year: $2.13B