WEC · WEC Energy Group, Inc.

WEC Energy Group’s Q1 2026 results reflect solid operational execution and modest volume growth across key customer segments. Net income increased 11.1% year-over-year to $804.4 million, with diluted EPS rising 7.9% to $2.45 — driven primarily by higher operating income ($980.0M vs. $937.5M), lower income tax expense ($53.1M vs. $60.7M), and stable share count dynamics. Revenue grew $284.7 million year-over-year to $3.4 billion, supported by both rate-related contributions and demand trends: retail electricity deliveries (excluding the iron ore mine) rose 1.1%, and weather-normalized deliveries increased 1.3%, indicating underlying economic strength in its service territories. Large commercial and industrial electricity use (excl. iron ore mine) grew 2.7%, outpacing residential (+0.2%) and small C&I (+0.7%), suggesting continued industrial activity. In contrast, natural gas deliveries in Wisconsin (excluding power generation) declined 3.5% year-over-year — a trend consistent with broader electrification and energy transition pressures, further evidenced by the 2.1% drop on a weather-normal basis. Management attributed results to capital plan execution and operating efficiencies, and reaffirmed full-year 2026 EPS guidance of $5.51–$5.61, explicitly conditioned on normal weather — signaling confidence in core utility performance but also highlighting weather sensitivity as a key earnings variable. The reaffirmation, coupled with strong operating cash flow ($1.22B) and disciplined capital spending ($817.9M), underscores the company’s ability to fund its regulated infrastructure buildout while maintaining financial flexibility.