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WEC Energy Group Inc (WEC)
:WEC
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Earnings Data
Report Date
Feb 04, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
1.47Last Year’s EPS
1.1Same Quarter Last Year
Based on 12 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2018
|% Change Since: 4.01%
|Next Earnings Date:Jul 31, 2018
Earnings Call Sentiment|Positive
The earnings call reflects a strong financial quarter with ambitious growth and investment plans, especially in Wisconsin. However, there are operational challenges and uncertainties in Illinois that could impact future performance. The sentiment leans towards positive due to the strong growth prospects and strategic investments.Company Guidance
During the WEC Energy Group's Q3 2024 earnings call, the company reported adjusted earnings of $0.82 per share, excluding a $0.06 per share charge. The company reaffirmed its 2024 earnings guidance range of $4.80 to $4.90 per share. WEC announced a substantial five-year capital plan from 2025 to 2029, totaling $28 billion, which is a $4.3 billion increase from the prior plan. This plan includes investments of $9.1 billion in solar, wind, and battery storage, as well as $900 million in natural gas generation. In Wisconsin, the unemployment rate is 2.9%, and the region is experiencing significant economic growth, with major developments from companies like Microsoft and Amazon. The company expects asset-based growth at an average rate of 8.8% per year, supporting a long-term earnings per share growth of 6.5% to 7% annually.Strong Financial Performance
Reported third quarter 2024 adjusted earnings of $0.82 per share, excluding a $0.06 per share charge. Exceeded Q3 guidance range, driven by favorable weather, financing, and tax timing.
Ambitious Capital Plan
Announced a $28 billion capital plan over the next 5 years, an increase of $4.3 billion above the previous plan. Plan supports 1,800 megawatts of additional demand, with investments in renewables and natural gas generation.
Economic Growth in Wisconsin
Microsoft and Amazon are making significant developments in Southeast Wisconsin, contributing to a strong local economy. The unemployment rate in Wisconsin is at 2.9%.
Regulatory Approvals
Rate reviews in Wisconsin are nearly complete for test years 2025 and 2026. The Michigan Public Service Commission has approved settlements with an ROE of 9.86%.
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WEC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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WEC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | $95.21 | $94.71 | -0.53% |
| Jul 31, 2024 | $84.08 | $84.53 | +0.54% |
| May 01, 2024 | $80.37 | $80.33 | -0.05% |
| Feb 01, 2024 | $77.71 | $78.69 | +1.26% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does WEC Energy Group Inc (WEC) report earnings?
WEC Energy Group Inc (WEC) is schdueled to report earning on Feb 04, 2025, TBA Not Confirmed.
What is WEC Energy Group Inc (WEC) earnings time?
WEC Energy Group Inc (WEC) earnings time is at Feb 04, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is WEC EPS forecast?
WEC EPS forecast for the fiscal quarter 2024 (Q4) is 1.47.
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