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WEC Energy Group (WEC) investor relations material
WEC Energy Group Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 net income attributed to common shareholders was $245.4 million ($0.76 per share), up from $211.3 million ($0.67 per share) year-over-year, driven by strong Wisconsin segment performance and higher retail sales volumes.
Six-month net income reached $969.6 million ($3.02 per share), compared to $833.6 million ($2.64 per share) in the prior year.
Utility operations and the Wisconsin segment led earnings growth, while Illinois and non-utility energy infrastructure segments saw declines due to higher costs and storm-related impairments.
The company reaffirmed full-year 2025 EPS guidance of $5.17 to $5.27, supported by a $28B five-year capital plan and robust regional economic growth.
Major economic development activity includes investments from Yaskawa, Microsoft, and large-scale data center projects.
Financial highlights
Q2 2025 operating revenues were $2,009.5 million, up from $1,772.0 million in Q2 2024; six-month revenues reached $5,159.0 million, up from $4,452.2 million year-over-year.
Operating income for Q2 2025 was $404.9 million, up from $364.8 million; net income for Q2 2025 was $245.4 million, up from $211.3 million.
Diluted EPS for Q2 2025 was $0.76, up from $0.67 in Q2 2024; six-month diluted EPS was $3.02, up from $2.64.
Retail electric deliveries grew 1.1% year-over-year, led by 1.9% growth in large commercial and industrial segment.
Cash provided by operating activities for the six months ended June 30, 2025, was $2,015.9 million, up from $1,901.0 million year-over-year.
Outlook and guidance
Reaffirmed 2025 EPS guidance of $5.17 to $5.27, assuming normal weather for the remainder of the year.
Long-term EPS CAGR target of 6.5% to 7% supported by a $28B five-year capital plan.
Q3 2025 EPS expected in the range of $0.74 to $0.80.
Five-year demand growth forecast of 1.8 GW for the I-94 corridor; annual electric sales growth expected at 4.5%-5% for 2027-2029.
2025 annual effective tax rate expected between 7.5% and 8.5%.
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