WEC Energy Group reported higher earnings for the third quarter and first nine months of 2026, and raised its full-year earnings forecast. The Milwaukee-based utility said warmer-than-normal weather, execution of its capital plan and operating efficiency supported results; it also cited capital investment supported by very large customers as a factor behind the higher outlook.
Key details
- Third-quarter net income was $389.3 million, or $1.18 per diluted share, compared with $271.3 million, or 83 cents per share, a year earlier.
- Net income for the first nine months reached $1.49 billion, or $4.54 per diluted share, up from $1.24 billion, or $3.85 per share, in the same period of 2025.
- Revenue for the first nine months totaled $7.8 billion, an increase of $523.9 million from a year earlier.
- 2026 earnings guidance is now $5.60 to $5.64 per share, compared with the previous range of $5.51 to $5.61. The updated forecast assumes normal weather for the rest of the year.
- Electricity deliveries in the third quarter rose 3.3% from a year earlier, excluding an iron ore mine in Michigan’s Upper Peninsula and very large customers in Wisconsin. On a weather-normal basis, deliveries in those categories increased 0.4%.
- Within that customer base, residential electricity use increased 5.1%. Consumption by small commercial and industrial customers rose 3.5%, while use by large commercial and industrial customers increased 1.0%.
The higher earnings forecast reflects both favorable weather and investment-related support from very large customers. WEC said it remains on track to deliver its expected financial and operational performance in 2026.