WEC Energy Q3 2021 Earnings Report
Key Takeaways
WEC Energy Group reported a positive third quarter, driven by warmer weather, economic recovery, and efficiency gains. Net income increased to $290.0 million, or 92 cents per share, up from $266.8 million, or 84 cents per share, in the third quarter of the prior year. The company raised its earnings guidance for 2021 to $4.05 to $4.07 per share.
Net income for the third quarter of 2021 was $290.0 million, or 92 cents per share, compared to $266.8 million, or 84 cents per share, for the same period in 2020.
Retail deliveries of electricity, excluding the iron ore mine, increased by 2.4 percent in the third quarter of 2021 compared to the third quarter of 2020.
The company is raising its earnings guidance for 2021 to a range of $4.05 to $4.07 per share.
At the end of September, the company was serving approximately 8,000 more electric customers and 15,000 more natural gas customers than at the same time a year ago.
WEC Energy
WEC Energy
Forward Guidance
The company is raising its earnings guidance again for 2021, to a range of $4.05 to $4.07 per share, with an expectation of reaching the top end of the range. This assumes normal weather for the remainder of the year.