WEC Energy Q2 profit rises on cost discipline

Overview

• U.S. utility's Q2 net income and EPS rose yr/yr

• Consolidated revenue for first half of 2026 increased from prior year

• Company reaffirmed 2026 earnings guidance

Outlook

• WEC Energy Group reaffirms 2026 earnings guidance of $5.51 to $5.61 per share

• Company outlook for 2026 assumes normal weather conditions

Result Drivers

• OPERATING EFFICIENCY - Co said focus on customer service, financial discipline and operating efficiency contributed to quarterly results, per CEO Scott Lauber

• ELECTRICITY DEMAND MIX - Retail electricity deliveries were essentially flat, with small commercial and industrial use down 0.2%, large commercial and industrial up 0.9%, and residential use down 1.1%

• WEATHER-NORMALIZED GROWTH - On a weather-normal basis, retail electricity deliveries rose 1.2% in Q2

Company press release: ID:nPn9DZHFKa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 12 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the electric utilities peer group is "buy"

• Wall Street's median 12-month price target for WEC Energy Group Inc is $124.00, about 9.1% above its July 28 closing price of $113.61

• The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 20 three months ago

Reuters Recommended Reads

• July 29 - Entergy misses second-quarter profit estimates as costs weigh

• July 28 - DTE Energy Q2 net income rises; maintains 2026 operating EPS guidance

• July 28 - FirstEnergy Corp beats Q2 revenue estimates, reaffirms 2026 outlook

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)