WEC Energy Group Q1 net income $622.3M ($1.97/shr), up 22.6% YoY; reaffirms 2024 guidance

WEC ENERGY GROUP, INC.

Net income $622.3M ($1.97 diluted EPS) vs $507.5M ($1.61) in Q1 2023, up 22.6%.
Consolidated revenue $2.7B, down $207.9M YoY; natural gas deliveries fell 5.8% in Wisconsin.
Reaffirmed 2024 EPS guidance of $4.80-$4.90 assuming normal weather; conference call at 1pm CT.
Electricity retail deliveries down 0.3% (excl. iron ore mine); small commercial/industrial +0.7%.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WEC ENERGY GROUP, INC. reported first quarter of 2024 results: revenue $2.7 billion, net income $622.3 million, EPS $1.97 per share. Guidance reaffirmed.

Period: first quarter of 2024
Revenue: $2.7 billion
Net income: $622.3 million
EPS: $1.97 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

WEC Energy Group reports first-quarter results MILWAUKEE – WEC Energy Group (NYSE: WEC) today reported net income of $622.3 million, or $1.97 per share, for the first quarter of 2024 – up from $507.5 million, or $1.61 per share, in last year's first quarter. Consolidated revenues totaled $2.7 billion, down $207.9 million from the first quarter a year ago.

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Source: SEC EDGAR

accession 0000107815-24-000150

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