The in-line quarter with reaffirmed guidance is unlikely to drive a significant stock move. Monitor the Q2 2026 earnings for any changes to the 2026 guidance range, particularly given the decline in natural gas deliveries and the company's heavy capital expenditure plan.
Price Chart
Executive Summary
WEC Energy Group reported Q1 2026 diluted EPS of $2.45, a 7.9% YoY increase from $2.27, and above the $2.33 consensus estimate. Revenue rose 9.0% YoY to $3.43 billion, slightly above the $3.42B consensus. The company reaffirmed its 2026 earnings guidance of $5.51-$5.61 per share, maintaining its long-term growth trajectory. The beat was driven by solid operational execution and higher electricity deliveries, though natural gas deliveries declined.
Key Financial Metrics
Key Facts
- Q1 2026 diluted EPS of $2.45, up from $2.27 YoY (+7.9%)
- Q1 2026 revenue of $3.43 billion, up 9.0% YoY from $3.15 billion
- EPS beat consensus estimate of $2.33 by 5.3%
- Revenue slightly above consensus estimate of $3.42B
- 2026 EPS guidance reaffirmed at $5.51-$5.61 per share
- Retail electricity deliveries (ex-iron ore mine) up 1.1% YoY
- Natural gas deliveries in Wisconsin (ex-power gen) down 3.5% YoY
- Operating income rose to $980.0M from $937.5M YoY (+4.5%)
- Operating cash flow increased to $1.22B from $1.16B YoY
- Quarterly dividend increased to $0.9525 per share, up 6.7% YoY
Financial Impact
EPS beat of $0.12 (5.3%) vs consensus, revenue beat of ~$10M (0.3%) vs consensus. Guidance unchanged.
Risk Factors
- Natural gas deliveries declining 3.5% YoY signals potential headwinds from weather or customer conservation
- Heavy capital expenditure program ($817.9M in Q1 2026) increases debt and regulatory risk
- Long-term debt increased to $19.4B from $18.5B at year-end 2025
- Regulatory risk from Illinois QIP/UEA rider proceedings remains unresolved
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000783325-26-000049 |
| Document: wec-20260505.htm | 0000783325-26-000049 |
| Document: 0000783325-26-000049-index-headers.html | 0000783325-26-000049 |
| Document: 0000783325-26-000049-index.html | 0000783325-26-000049 |
| Document: 0000783325-26-000049.txt | 0000783325-26-000049 |
| 8-K Data (Synthetic) | 0000783325-26-000049 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 11, 2026 7w ago | 8-K | $106.68 $106.15 | ▼ −0.50% | ▲ +0.56% | $101.59 (−4.77%) |
Jul 29, 2026 9w ago | 8-K | $111.29 $107.52 | ▼ −3.39% | ▼ −8.41% | $101.59 (−8.72%) |
Jul 22, 2026 10w ago | Press Release | $113.46 $109.34 | ▼ −3.63% | ▼ −6.53% | $101.59 (−10.46%) |
Jul 16, 2026 11w ago | Press Release | $114.49 $110.28 | ▼ −3.68% | ▼ −7.29% | $101.59 (−11.27%) |
Jun 1, 2026 17w ago | 8-K | $110.23 $116.22 | ▲ +5.43% | ▲ +7.00% | $101.59 (−7.84%) |
May 5, 2026 21w ago | 8-K | $115.22 $110.23 | ▼ −4.33% | ▼ −9.29% | $101.59 (−11.83%) |
Mar 26, 2026 27w ago | DEFA14A | $114.02 $114.60 | ▲ +0.51% | ▼ −10.16% | $101.59 (−10.90%) |
Feb 26, 2026 31w ago | 8-K | $115.79 $114.02 | ▼ −1.53% | ▲ +4.87% | $101.59 (−12.26%) |
US Market Status
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