Wec Energy Group Inc
Wec Energy Group Inc, a leading energy company, recently released its first-quarter financial results for 2024, which showed some contradictory trends. Despite a 22.36% improvement in earnings per share to $1.97, the company witnessed a fading revenue of -7.199% to $2.68 billion compared to the previous reporting period. In the first quarter of 2024, Wec Energy Group Inc reported a bottom-line of $622.600 million, representing a 22.66% increase from the $507.600 million reported in the first quarter of the previous year. This positive growth in net earnings is indicative of the company's efforts to optimize its profitability.
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Wec Energy Group Inc
Wec Energy Group Inc (WEC) faced some challenges in the fiscal period closing Dec 31, 2023, as both its revenue and income declined. Income fell by 13.51% to $0.69 per share, and revenue dropped by 13.325% year on year. Comparing to the fourth quarter of 2022, revenue decreased from $2.56 billion to $2.22 billion. The decline in income was more substantial, with a decrease of 30.77% from $1.00 per share in the preceding period. However, revenue showed some resilience, increasing by 13.288% from $1.96 billion. Despite the setbacks, WEC managed to achieve a net income of $218.5 million in the fourth quarter of 2023, even though it represented a decline of 13.36% compared to the same period a year before.
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Wec Energy Group Inc
In the third quarter of the 2023 earnings season, Wec Energy Group Inc experienced a decline in revenue but managed to increase its earnings per share. Earnings grew by a moderate 4.17% to $1.00 per share, while revenue fell by -2.277% to $1.96 billion compared to the previous year. However, when compared to the preceding reporting season, income improved from $0.92 per share, and revenue increased by 6.962% from $1.83 billion. The net profits for the third quarter of the 2023 earnings season were $315.600 million, representing a 4.61% increase from the previous year's net earnings of $301.700 million. Wec Energy Group Inc also highlighted its improving profit margins, with a net margin of 16.12% and an operating margin of 24.11% in the third quarter of the 2023 earnings season.
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Wec Energy Group Inc
Investors Anticipate Mixed Future Performance for WEC Energy Group Inc. For the April to June 30, 2023 period, WEC Energy Group Inc. experienced moderate growth in earnings, with a 1.1% increase to $0.92 per share compared to $0.91 per share a year ago. However, profit plummeted by -42.86%, dropping from $1.61 per share in the preceding reporting period. Furthermore, the company saw a respectable decline of -14% in revenue, from $2.13 billion to $1.83 billion, when compared to the same reporting period a year ago. Sequentially, revenue tumbled even further by -36.637% from $2.89 billion.
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Wec Energy Group Inc
The recent financial results of Wec Energy Group Inc show mixed signals, which may warrant caution for investors in the stock market. While the company's return on equity (ROE) in the first quarter of 2023 was an impressive 2698.6%, its overall ranking remained unchanged, indicating that other factors may be affecting its performance. Furthermore, despite achieving the highest ROE in the electric utilities industry, Wec Energy Group Inc announced disappointing numbers in terms of EPS and revenue. The fact that EPS deteriorated by -10.06% and revenue depreciated by -0.688% from the previous year may be indicative of challenges that the company is facing. Additionally, the decline in net margin, profitability and operating earnings may point to a weakening financial position for the company. These factors may suggest that Wec Energy Group Inc is experiencing challenges that may impact its ability to deliver the expected returns to its shareholders.
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Revenues from contracts with customers |
|
99.51 % |
of total Revenue |
Other revenues |
|
0.49 % |
of total Revenue |
Utility operations Revenues from contracts with customers |
|
96.76 % |
of total Revenue |
Electric Revenues from contracts with customers |
|
76.32 % |
of total Revenue |
Natural gas Revenues from contracts with customers |
|
20.44 % |
of total Revenue |
Other non-utility revenues Revenues from contracts with customers |
|
2.75 % |
of total Revenue |
Reconciling Eliminations |
|
-6.24 % |
of total Revenue |
Reconciling Eliminations Revenues from contracts with customers |
|
-0.6 % |
of total Revenue |
Reconciling Eliminations Other revenues |
|
-5.63 % |
of total Revenue |
Reconciling Eliminations Utility operations Revenues from contracts with customers |
|
-0.52 % |
of total Revenue |
Reconciling Eliminations Natural gas Revenues from contracts with customers |
|
-0.52 % |
of total Revenue |
Reconciling Eliminations Other non-utility revenues Revenues from contracts with customers |
|
-0.09 % |
of total Revenue |
Total Utility Operations Natural gas Transferred over time Revenues from contracts with customers |
|
20.4 % |
of total Revenue |
Total Utility Operations |
|
97.48 % |
of total Revenue |
Total Utility Operations Other revenues |
|
0.49 % |
of total Revenue |
Total Utility Operations Transferred over time Revenues from contracts with customers |
|
96.99 % |
of total Revenue |
Total Utility Operations Utility operations Transferred over time Revenues from contracts with customers |
|
96.72 % |
of total Revenue |
Total Utility Operations Electric Transferred over time Revenues from contracts with customers |
|
76.32 % |
of total Revenue |
Total Utility Operations Other non-utility revenues Transferred over time Revenues from contracts with customers |
|
0.27 % |
of total Revenue |
Wisconsin Electric Transferred over time Revenues from contracts with customers |
|
76.32 % |
of total Revenue |
Wisconsin Natural gas Transferred over time Revenues from contracts with customers |
|
8.78 % |
of total Revenue |
Wisconsin |
|
85.32 % |
of total Revenue |
Wisconsin Other revenues |
|
0.22 % |
of total Revenue |
Wisconsin Transferred over time Revenues from contracts with customers |
|
85.1 % |
of total Revenue |
Wisconsin Utility operations Transferred over time Revenues from contracts with customers |
|
85.1 % |
of total Revenue |
Illinois Natural gas Transferred over time Revenues from contracts with customers |
|
9.02 % |
of total Revenue |
Illinois |
|
9.32 % |
of total Revenue |
Illinois Other revenues |
|
0.3 % |
of total Revenue |
Illinois Transferred over time Revenues from contracts with customers |
|
9.02 % |
of total Revenue |
Illinois Utility operations Transferred over time Revenues from contracts with customers |
|
9.02 % |
of total Revenue |
Other States Natural gas Transferred over time Revenues from contracts with customers |
|
2.6 % |
of total Revenue |
Other States |
|
2.84 % |
of total Revenue |
Other States Other revenues |
|
-0.03 % |
of total Revenue |
Other States Transferred over time Revenues from contracts with customers |
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2.87 % |
of total Revenue |
Other States Utility operations Transferred over time Revenues from contracts with customers |
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2.6 % |
of total Revenue |
Other States Other non-utility revenues Transferred over time Revenues from contracts with customers |
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0.27 % |
of total Revenue |
Non-Utility Energy Infrastructure |
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8.75 % |
of total Revenue |
Non-Utility Energy Infrastructure Revenues from contracts with customers |
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3.12 % |
of total Revenue |
Non-Utility Energy Infrastructure Other revenues |
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5.63 % |
of total Revenue |
Non-Utility Energy Infrastructure Utility operations Revenues from contracts with customers |
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0.56 % |
of total Revenue |
Non-Utility Energy Infrastructure Natural gas Revenues from contracts with customers |
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0.56 % |
of total Revenue |
Non-Utility Energy Infrastructure Other non-utility revenues Revenues from contracts with customers |
|
2.56 % |
of total Revenue |
Electric |
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76.32 % |
of total Revenue |
Wisconsin Electric Transferred over time |
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76.32 % |
of total Revenue |
Wisconsin Electric Transferred over time Total retail revenues |
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71.99 % |
of total Revenue |
Wisconsin Electric Transferred over time Residential |
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31.79 % |
of total Revenue |
Wisconsin Electric Transferred over time Small commercial and industrial |
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24.57 % |
of total Revenue |
Wisconsin Electric Transferred over time Large commercial and industrial |
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15.25 % |
of total Revenue |
Wisconsin Electric Transferred over time Other |
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0.39 % |
of total Revenue |
Wisconsin Electric Transferred over time Wholesale |
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1.45 % |
of total Revenue |
Wisconsin Electric Transferred over time Resale |
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2.47 % |
of total Revenue |
Wisconsin Electric Transferred over time Steam |
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0.12 % |
of total Revenue |
Wisconsin Electric Transferred over time Other utility revenues |
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0.29 % |
of total Revenue |
Natural gas |
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20.44 % |
of total Revenue |
Total Utility Operations Natural gas Transferred over time |
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20.4 % |
of total Revenue |
Total Utility Operations Natural gas Transferred over time Total retail revenues |
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15.5 % |
of total Revenue |
Total Utility Operations Natural gas Transferred over time Residential |
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11.55 % |
of total Revenue |
Total Utility Operations Natural gas Transferred over time Commercial and industrial |
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3.94 % |
of total Revenue |
Total Utility Operations Natural gas Transferred over time Transportation |
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3.77 % |
of total Revenue |
Total Utility Operations Natural gas Transferred over time Other utility revenues |
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1.13 % |
of total Revenue |
Wisconsin Natural gas Transferred over time |
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8.78 % |
of total Revenue |
Wisconsin Natural gas Transferred over time Total retail revenues |
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5.77 % |
of total Revenue |
Wisconsin Natural gas Transferred over time Residential |
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4.12 % |
of total Revenue |
Wisconsin Natural gas Transferred over time Commercial and industrial |
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1.65 % |
of total Revenue |
Wisconsin Natural gas Transferred over time Transportation |
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1.04 % |
of total Revenue |
Wisconsin Natural gas Transferred over time Other utility revenues |
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1.97 % |
of total Revenue |
Illinois Natural gas Transferred over time |
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9.02 % |
of total Revenue |
Illinois Natural gas Transferred over time Total retail revenues |
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7.83 % |
of total Revenue |
Illinois Natural gas Transferred over time Residential |
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6.12 % |
of total Revenue |
Illinois Natural gas Transferred over time Commercial and industrial |
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1.72 % |
of total Revenue |
Illinois Natural gas Transferred over time Transportation |
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2.4 % |
of total Revenue |
Illinois Natural gas Transferred over time Other utility revenues |
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-1.22 % |
of total Revenue |
Other States Natural gas Transferred over time |
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2.6 % |
of total Revenue |
Other States Natural gas Transferred over time Total retail revenues |
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1.89 % |
of total Revenue |
Other States Natural gas Transferred over time Residential |
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1.31 % |
of total Revenue |
Other States Natural gas Transferred over time Commercial and industrial |
|
0.57 % |
of total Revenue |
Other States Natural gas Transferred over time Transportation |
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0.33 % |
of total Revenue |
Other States Natural gas Transferred over time Other utility revenues |
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0.38 % |
of total Revenue |
Other non-utility revenues |
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2.75 % |
of total Revenue |
Other non-utility revenues We Power revenues |
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0.33 % |
of total Revenue |
Transferred over time Other non-utility revenues Wind generation revenues |
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2.15 % |
of total Revenue |
Transferred over time Other non-utility revenues Appliance service revenues |
|
0.27 % |
of total Revenue |
Late payment charges |
|
0.56 % |
of total Revenue |
Alternative revenues |
|
-0.09 % |
of total Revenue |
Other |
|
0.03 % |
of total Revenue |
External revenues |
|
100 % |
of total Revenue |
Utility operations External revenues |
|
97.48 % |
of total Revenue |
Reconciling eliminations Interrevenues |
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-6.24 % |
of total Revenue |
Wisconsin Utility operations External revenues |
|
85.32 % |
of total Revenue |
Illinois Utility operations External revenues |
|
9.32 % |
of total Revenue |
Other States Utility operations External revenues |
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2.84 % |
of total Revenue |
Non-Utility Energy Infrastructure External revenues |
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2.52 % |
of total Revenue |
Non-Utility Energy Infrastructure Interrevenues |
|
6.24 % |
of total Revenue |