---
schema_version: "secwatch.filing_event.v1"
accession: "0000107815-23-000142"
form_type: "8-K"
ticker: "WEC"
cik: "0000783325"
company_name: "WEC ENERGY GROUP, INC."
filed_at: "2023-05-01T23:59:59+00:00"
generated_at: "2026-06-16T05:40:44.130609+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# WEC Energy Group Q1 net income $507.5M ($1.61/sh) vs $565.9M ($1.79/sh) YoY; reaffirms FY guidance

## Summary
- Net income $507.5M ($1.61 diluted EPS), down from $565.9M ($1.79) in Q1 2022.
- Consolidated revenues $2.9B, down $20M YoY due to mild winter.
- Natural gas deliveries in WI fell 10.5% (weather-normal -1.0%); retail electricity down 4.4% (weather-normal -1.9%).
- Company reaffirms 2023 annual EPS guidance of $4.58-$4.62, assuming normal weather.
- CEO Gale Klappa cites mildest winters in history as primary headwind.

## SEC filing metadata
- accession: 0000107815-23-000142
- form_type: 8-K
- ticker: WEC
- cik: 0000783325
- company_name: WEC ENERGY GROUP, INC.
- filed_at: 2023-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/783325/000010781523000142/0000107815-23-000142-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/783325/000010781523000142/wec-20230501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000107815-23-000142
- JSON: https://secwatch.observer/filing/0000107815-23-000142.json
- Plain text: https://secwatch.observer/filing/0000107815-23-000142.txt

## Key facts
- Earnings Releases
  WEC ENERGY GROUP, INC. reported quarter ended March 31, 2023 results: revenue $2.9 billion, net income $507.5 million, or $1.61 per share, EPS $1.61 per share. Guidance reaffirmed.
  - Period: quarter ended March 31, 2023
  - Revenue: $2.9 billion
  - Net income: $507.5 million, or $1.61 per share
  - EPS: $1.61 per share
  - Guidance: reaffirmed
  - Result: reported results
  source text: WEC Energy Group (NYSE: WEC) today reported net income of $507.5 million, or $1.61 per share, for the first quarter of 2023 – down from $565.9 million, or $1.79 per share, in last year's first quarter. Consolidated revenues totaled $2.9 billion, down $20.0 million from the first quarter a year ago.
  evidence_url: https://www.sec.gov/Archives/edgar/data/783325/000010781523000142/0000107815-23-000142-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.