WEC Energy Group, Inc.

WEC
Sector

Utilities

Industry

Utilities - Regulated Electric

Market Cap

$29.40B

Employees

7K

Company Overview

WEC Energy Group is a diversified holding company focused on regulated natural gas and electricity, as well as non-regulated renewable energy. The company operates primarily in Wisconsin, Illinois, Michigan, and Minnesota, with a significant market position in the Midwest. WEC Energy Group has a competitive advantage through its diverse generation portfolio and its ability to provide reliable and affordable energy to its customers.

Filing Highlights

Key insights and themes extracted from this filing

10 Themes

Financial Performance

3 Insights

Operating revenues decreased from $1,957.4 million to $1,863.5 million for the three months ended September 30, 2024, primarily due to lower natural gas sales volumes as a result of warmer weather.

Net income decreased from $315.6 million to $238.6 million for the three months ended September 30, 2024, primarily due to lower operating revenues and a $25.3 million pre-tax charge to income related to the ICC's disallowance of certain capital costs.

Capital expenditures increased $205.2 million for the nine months ended September 30, 2024, compared to the same period in 2023, as the company continues to execute on its ESG Progress Plan.

Growth & Strategy

3 Insights

Management Execution

3 Insights

Risk Factors

3 Insights

Competitive Position

3 Insights

Operational Efficiency

3 Insights

Innovation & Technology

3 Insights

Capital Allocation

3 Insights

ESG initiatives

3 Insights

Market Environment

3 Insights