WEC Energy Posts Quarterly Earnings of $1.18 per Share and Raises 2026 Outlook
Key Facts
WEC Energy Group reported diluted earnings of $1.18 per share and net income of $389.3 million in the third quarter of 2026, compared with $0.83 per share and $271.3 million in the same period a year earlier. In its earnings release, the company said Chief Executive Scott Lauber attributed the performance to warmer-than-normal weather, execution of its capital plan and operating efficiency. Operating revenue was $2.291 billion, up from $2.104 billion a year earlier, while operating income rose to $563.7 million from $449.6 million. Interest expense, meanwhile, increased to $241.7 million from $223.6 million. The results topped analysts' estimates: earnings per share were estimated at $0.95, while revenue consensus was $2.2 billion, according to Investing.com.
For the nine months ended September 30, net income was $1.49 billion and earnings per share were $4.54, compared with $1.24 billion and $3.85 per share in the corresponding period of 2025. Consolidated revenue was $7.8 billion, an increase of $523.9 million year over year. The figures reflect cumulative improvement in earnings and revenue during the year, while third-quarter results showed a clear increase in operating income. In the second quarter of 2026, the company reported net income of $299.2 million and earnings per share of 91 cents, compared with $245.4 million and 76 cents in the second quarter of 2025. It then reaffirmed its annual earnings guidance range of $5.51 to $5.61 per share, before raising it after the third-quarter results.
Retail electricity deliveries rose 3.3% in the third quarter year over year, excluding the Upper Peninsula iron ore mine in Michigan and very large customers in Wisconsin. The increase was 0.4% after adjusting deliveries for weather, highlighting the effect of warmer weather on reported consumption growth. The increase varied by customer segment: consumption by small commercial and industrial customers rose 3.5%, compared with 1.0% among large commercial and industrial customers after the same exclusions. Residential electricity consumption also increased 5.1%. The company serves about 4.8 million customers in Wisconsin, Illinois, Michigan and Minnesota, making consumption levels across these groups an important measure of its utilities' performance.
WEC Energy raised and narrowed its 2026 earnings guidance to $5.60–$5.64 per share, from a previous estimate of $5.51 to $5.61. The new guidance assumes normal weather for the rest of the year. The company attributed the revision to favorable weather and capital investments supported by very large customers, along with the factors Lauber cited in explaining the quarterly results. The chief executive said, "We remain on track to deliver strong financial and operating performance in 2026." The new annual guidance places third-quarter results within the company's trajectory for the rest of the year, with weather expectations remaining an explicit assumption.
WEC shares closed at $110.50 on October 28, 2026, according to EL7 data. That price did not include a comparison with the stock's movement during the session. The following day, the company was scheduled to hold a conference call to discuss its third-quarter results and outlook at 1 p.m. Central time. It also announced that detailed financial materials would be available at 6:30 a.m. Central time on October 29. The conference call replay was scheduled to remain available through November 12, 2026.