WEC Energy Group Q3 net income rises to $1.00/share; reaffirms FY 2023 guidance

WEC ENERGY GROUP, INC.

Q3 2023 net income $316M ($1.00 EPS) vs $302M ($0.96 EPS) a year ago.
Nine-month net income $1.11B ($3.52 EPS) down from $1.16B ($3.65 EPS).
Consolidated revenues $6.7B for 9 months, down $363.5M from prior year.
Reaffirms 2023 EPS guidance $4.58-$4.62, expects upper half; normal weather assumed.
Retail electricity deliveries (ex-iron ore mine) fell 1.3% vs Q3 2022.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WEC ENERGY GROUP, INC. reported the quarter ended September 30, 2023 results: net income $316.0 million, or $1.00 per share, EPS $1.00 per share. Guidance reaffirmed.

Period: the quarter ended September 30, 2023
Net income: $316.0 million, or $1.00 per share
EPS: $1.00 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

WEC Energy Group reports third-quarter results MILWAUKEE – WEC Energy Group (NYSE: WEC) today reported net income of $316.0 million, or $1.00 per share, for the third quarter of 2023 – up from $302.0 million, or 96 cents per share, in last year's third quarter.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WEC ENERGY GROUP, INC. reported the nine months ended September 30, 2023 results: revenue $6.7 billion, net income $1.11 billion, or $3.52 per share, EPS $3.52 per share. Guidance reaffirmed.

Period: the nine months ended September 30, 2023
Revenue: $6.7 billion
Net income: $1.11 billion, or $3.52 per share
EPS: $3.52 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

For the first nine months of 2023, the company recorded net income of $1.11 billion, or $3.52 per share – down from $1.16 billion, or $3.65 per share, in the corresponding period a year ago. Consolidated revenues totaled $6.7 billion for the first nine months of 2023, down $363.5 million from revenues for the first nine months of 2022.

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Source: SEC EDGAR

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