#USA #Milwaukee #WEC Energy Group #Q1 2026

WEC Energy Group Reports Strong Financial Results for Q1 2026

WEC Energy Group (NYSE: WEC), headquartered in Milwaukee, has released its earnings report for the first quarter of 2026, showing impressive growth and solid financial performance. The company recorded a net income of $804.4 million, translating to $2.45 per share, a marked increase from the $724.2 million or $2.27 per share reported in the same quarter of the previous year.

Financial Highlights

In total, consolidated revenues for the company reached $3.4 billion, which is $284.7 million higher than the revenue generated in the first quarter of 2025. President and CEO Scott Lauber commented on the results, stating, "The continued execution of our capital plan and our focus on operational efficiencies have led to these strong first-quarter results. We are dedicated to providing reliable and safe energy to the customers and communities we serve as we build for a growing economy."

Energy Consumption Trends

The report highlighted several interesting trends in energy consumption. Retail deliveries of electricity, excluding the iron ore mine located in Michigan's Upper Peninsula, saw a 1.1 percent increase compared to the previous year. Additionally, electricity usage by small commercial and industrial customers rose by 0.7 percent, while larger industrial customers—excluding the mine—registered a 2.7 percent increase in their energy use. Residential electricity consumption also saw a slight uptick of 0.2 percent.

Furthermore, on a weather-normalized basis, retail electricity deliveries increased by 1.3 percent. On a different note, natural gas deliveries in Wisconsin, excluding those used for power generation, fell by 3.5 percent compared to the first quarter of 2025, with weather normalization adjusting this decrease to 2.1 percent.

Future Outlook

WEC Energy Group has reaffirmed its earnings guidance for 2026, projecting earnings per share between $5.51 and $5.61. This guidance assumes normal weather patterns throughout the remainder of the year, which is a crucial factor affecting the utility's operations. The earnings per share mentioned are calculated on a fully diluted basis, a standard approach in financial reporting that accounts for potential dilution from stock options and convertible securities.

Conference Call Information

To discuss the financial results in detail, WEC Energy Group has scheduled a conference call for 1 p.m. Central Time on Tuesday, May 5, which will address the first-quarter earnings and the company’s outlook moving forward. Stakeholders, media representatives, and the general public are welcome to participate in the call. Interested parties can access the call at 888-330-2443, or for international connections, 240-789-2728, using the conference ID 3088105. Additional access is available via the company's website at wecenergygroup.com, where a detailed financial information package will also be posted in conjunction with the earnings announcement.

Company Background

WEC Energy Group is recognized as one of the leading energy providers in the United States, serving approximately 4.8 million customers across Wisconsin, Illinois, Michigan, and Minnesota. The company operates several principal utilities, including We Energies and Wisconsin Public Service, and has significant investments in renewable energy generation. WEC Energy Group is a Fortune 500 company and a notable component of the S&P 500, underscoring its stability and significance in the energy sector.

This quarter's results reflect the effectiveness of WEC Energy Group's strategic initiatives and their commitment to operational excellence, keeping them well-positioned for future growth in the competitive energy landscape.