WEC Energy Group (WEC) Q2 2026 earnings summary

Executive summary

• Q2 2026 net income attributed to common shareholders was $299.2 million ($0.91 per diluted share), up $53.8 million year-over-year, with six-month net income at $1.1 billion ($3.36 per share), reflecting strong segment performance and regulatory-driven margin growth.

• Significant regional economic growth driven by large-scale data center developments from Microsoft, Oracle (Vantage), and other industrial expansions.

• Wisconsin and non-utility energy infrastructure segments drove earnings growth, while Illinois and other states saw mixed results due to weather and expense trends.

• Consolidated revenues for the first half of 2026 totaled $5.5 billion, an increase of $337.3 million year-over-year.

• Five-year capital plan projects $37.5 billion in investments, with 15% of asset base expected to serve very large customers by 2030.

Financial highlights

• Q2 2026 diluted EPS was $0.91, a $0.15 increase from Q2 2025, with six-month EPS at $3.36.

• Q2 2026 operating revenues were $2,062.1 million, up from $2,009.5 million in Q2 2025; six-month revenues reached $5,496.3 million.

• Operating income for Q2 was $432.8 million (vs. $404.9 million prior year); EBITDA for the first six months was $2,405.8 million.

• Dividend increased to $0.9525 per share quarterly, with $620.3 million paid in the first half.

• Capital expenditures for the first half totaled $2,079.9 million, up $549.4 million year-over-year, driven by investments in generation, renewables, and distribution.

Outlook and guidance

• 2026 earnings guidance reaffirmed at $5.51–$5.61 per share, assuming normal weather.

• Q3 2026 EPS expected in the range of $0.92–$0.98.

• Long-term EPS growth projected at 7%–8% CAGR from 2026–2030, with acceleration expected from 2028.

• Capital plan for 2026–2030 includes $33.4 billion in regulated utility investments and $4.1 billion in ATC capital expenditures.

• Planned investments: $6.1 billion in natural gas-fired generation, $12.6 billion in regulated renewables, and $2.9 billion in battery storage from 2026–2030.