WEC Energy Group Inc ( (WEC) ) has released its Q4 earnings. Here is a breakdown of the information WEC Energy Group Inc presented to its investors.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
WEC Energy Group Inc., a leading energy company based in Milwaukee, serves 4.7 million customers across Wisconsin, Illinois, Michigan, and Minnesota, and is known for its significant presence in the renewable energy sector through its subsidiary WEC Infrastructure LLC.
WEC Energy Group announced its 2024 financial results with a notable increase in earnings, reporting a net income of $1.5 billion, or $4.83 per share, up from $1.3 billion, or $4.22 per share, in 2023. The company’s performance is highlighted by its ability to manage operational challenges and deliver strong financial outcomes.
The company’s adjusted earnings for 2024 were reported at $4.88 per share, marking a 5.4% increase from 2023, despite a charge related to capital expenditures disallowed by the Illinois Commerce Commission. Full-year revenues were $8.6 billion, reflecting a slight decrease from the previous year. Electricity deliveries saw marginal growth, while natural gas deliveries experienced a slight decline.
WEC Energy Group remains optimistic about its future growth, reaffirming its 2025 earnings guidance with an anticipated range of $5.17 to $5.27 per share. The company continues to focus on enhancing customer and shareholder value, with potential growth opportunities on the horizon.
