WEC Energy Reaffirms 2026 Outlook as Second-Quarter Profit Rises

WEC Energy Reaffirms 2026 Outlook as Second-Quarter Profit Rises

Thu, July 30, 2026 at 6:57 AM GMT+3 2 min read

• WEC -1.11%

WEC Energy Group reported higher second-quarter earnings on Tuesday and reaffirmed its full-year earnings guidance, citing operating efficiency, financial discipline and continued execution of its capital investment program despite broadly flat electricity demand.

The Milwaukee-based utility posted second-quarter net income attributable to common shareholders of $299.2 million, or $0.91 per diluted share, up from $245.4 million, or $0.76 per share, a year earlier. For the first six months of 2026, net income rose to $1.10 billion, or $3.36 per diluted share, from $969.6 million, or $3.02 per share, in the prior-year period. Consolidated revenue for the first half increased to $5.50 billion, up from $5.16 billion a year earlier.

Chairman, President and CEO Scott Lauber attributed the results to customer service, financial discipline, operating efficiency and continued progress on the company's capital plan.

Retail electricity deliveries, excluding an iron ore mine in Michigan's Upper Peninsula and Wisconsin's Very Large Customers program, were essentially unchanged from a year ago. Small commercial and industrial sales slipped 0.2%, residential consumption declined 1.1%, while electricity use by large commercial and industrial customers increased 0.9%. On a weather-normalized basis, retail electricity deliveries increased 1.2% during the quarter.

WEC reaffirmed its 2026 earnings guidance of $5.51 to $5.61 per share, assuming normal weather conditions for the remainder of the year.

The results come as regulated U.S. electric and gas utilities continue investing heavily in grid modernization, renewable generation and infrastructure upgrades while positioning to serve rising electricity demand from large industrial users and data centers. WEC has previously identified data centers among the large-scale customers expected to drive future capital investments in its service territory.

By Charles Kennedy for Oilprice.com

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