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Sep 30, 2020
WEC Energy Q3 2020 Earnings Report
Reported a strong third quarter driven by economic rebound, warmer weather, and efficiency gains.
Key Takeaways
WEC Energy Group reported a net income of $266.8 million, or 84 cents per share, for the third quarter of 2020, up from $234.3 million, or 74 cents per share, for the same quarter last year. Consolidated revenues totaled $1.7 billion for the third quarter of 2020, up $43.0 million compared to the same quarter in 2019.
Net income increased to $266.8 million, or 84 cents per share, compared to $234.3 million, or 74 cents per share, in the third quarter of 2019.
Consolidated revenues for the third quarter of 2020 totaled $1.7 billion, up $43.0 million year-over-year.
Retail deliveries of electricity, excluding the iron ore mine, decreased by 0.3 percent in the third quarter of 2020 compared to the third quarter of 2019.
The company is narrowing and raising its earnings guidance for 2020 to a range of $3.74 to $3.76 per share.
Forward Guidance
The company is narrowing and raising its earnings guidance for 2020 to a range of $3.74 to $3.76 per share with an expectation of reaching 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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