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WEC Energy Group Reports Strong Third Quarter Results

WEC Energy Group (NYSE: WEC) has shared impressive results for the third quarter of 2026, reflecting a significant increase in net income. The company reported net earnings of $389.3 million, equating to $1.18 per share, marking a rise from $271.3 million or 83 cents per share in the same period last year. This growth is a part of the ongoing trend where the company's financial performance continues to improve year on year.

Over the first nine months ending September 30, 2026, WEC Energy Group recorded $1.49 billion in net income, or $4.54 per share, compared to $1.24 billion or $3.85 per share during the same timeframe the previous year. Total consolidated revenues amounted to $7.8 billion, an increase of $523.9 million from the nine months ending September 30, 2025.

Scott Lauber, the chairman, president, and CEO of WEC Energy Group, attributed these strong results to several factors including warmer-than-normal weather and successful execution of their capital investment plan, demonstrating operational efficiency. Lauber emphasized that the company's strong focus on the fundamentals is generating real value for both customers and shareholders. He expressed confidence in maintaining robust financial and operational performance through 2026.

In terms of electricity deliveries, there was a noted rise in retail electricity distribution in the third quarter of 2026—an increase of 3.3 percent compared to last year's third quarter, excluding the iron ore mine in Michigan's Upper Peninsula and Very Large Customers (VLCs) in Wisconsin. Small commercial and industrial customer consumption was up 3.5 percent, while large commercial and industrial customers, after adjusting for VLCs and the iron ore mine, saw an uptick of 1.0 percent. Residential electricity use surged even more significantly by 5.1 percent during the same period.

When adjusting for weather effects, the increase in retail electricity deliveries was more modest at 0.4 percent. Favorable climatic conditions and capital investments supporting VLCs led the company to raise its earnings guidance for 2026, adjusting it to an expected range of $5.60 to $5.64 per share, anticipating that normal weather conditions will prevail for the remainder of the year, refining its previous forecast which was set at $5.51 to $5.61 per share.

Earnings per share reported are on a fully diluted basis. For stakeholders interested in detailed financial insights, a conference call to discuss these quarterly results is scheduled for 1 p.m. Central time today, October 29. This call will cover both the third-quarter earnings and an outlook for the upcoming future. Interested parties including stockholders, news media, and public listeners can participate by calling 833-461-5787—international callers can reach through 585-542-9983—using conference ID 840581506. Furthermore, access for web streaming can be found at wecenergygroup.com, where detailed financial information concerning the third quarter will also be made available.

In addition to its financial performance, WEC Energy Group remains a significant player in the energy sector. Based in Milwaukee, the company serves approximately 4.8 million customers across Wisconsin, Illinois, Michigan, and Minnesota through its various utilities like We Energies and Wisconsin Public Service. They also operate renewable energy generation facilities, signifying their commitment to sustainable energy production. With over 31,000 stockholders, 7,000 employees, and $53 billion in total assets, WEC Energy Group demonstrates a robust position in the market and continues to evolve and adapt in the ever-changing energy landscape.