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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.
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Q2 2025 earnings summary30 Jul, 2025

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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Frequently asked questions

WEC Energy Group, Inc., through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. The company offers gas and electricity to over 1.3 million residential, municipal, commercial, industrial, and other customers in New England; Maryland; Michigan; Minnesota; New Jersey; North Carolina; Ohio; Pennsylvania; South Carolina; Virginia; Texas; and Wisconsin. It also provides employee transportation services under four open-access programs for participating employers in various states of the United States. WEC Energy Group, Inc sells electricity generated from the renewable sources of biomass, hydroelectric power, landfill gas, solar photovoltaic systems, small wind systems, biogas from anaerobic digestion systems, landfill methane gas to local distribution companies (LDCs), electric cooperatives (ECs). The company is based in Milwaukee, Wisconsin.

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