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Sep 30, 2022
WEC Energy Q3 2022 Earnings Report
Reported solid third-quarter earnings driven by infrastructure and transmission segments and warmer weather.
Key Takeaways
WEC Energy Group reported a strong third quarter with increased net income and earnings per share compared to the previous year. The company is narrowing its 2022 earnings guidance to $4.38 to $4.40 per share, with an expectation of reaching the top end of the range.
Net income increased to $302.0 million, or 96 cents per share, up from $290.0 million, or 92 cents per share, in the third quarter of 2021.
Retail deliveries of electricity, excluding the iron ore mine, were down by 1.5 percent compared to the third quarter last year.
The company is narrowing its 2022 earnings guidance to $4.38 to $4.40 per share, with an expectation of reaching the top end of the range.
Consolidated revenues totaled $7.0 billion for the first nine months of 2022, up $924.9 million over revenues for the first nine months of 2021.
Forward Guidance
The company is narrowing its 2022 earnings guidance to $4.38 to $4.40 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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