WEC Energy Group Inc reports results for the quarter ended in September 30 - Earnings Summary

WEC Energy

01/11/2024 03:45

* WEC Energy Group Inc  WEC.N  reported quarterly adjusted
earnings of 82 cents​​ per share for the quarter ended September
30, lower than the same quarter last year, when the company
reported EPS of $1.00.  The mean expectation of fifteen analysts
for the quarter was for earnings of 70 cents per share. Wall
Street expected results to range from 68 cents to 74 cents per
share.
    * Revenue fell 4.8% to $1.86 billion from a year ago;
analysts
expected $1.93 billion. 
    * WEC Energy Group Inc's reported EPS for the quarter was 76
cents​.
    * The company reported quarterly net income of $240.1
million.
    * WEC Energy Group Inc shares had fallen by 0.2% this
quarter and
gained 14.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 27.7%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 11
"hold" and 3 "sell" or "strong sell." 
    * The average consensus recommendation for the electric
utilities
peer group is also "hold"

Wall Street's median 12-month price target for WEC Energy Group
Inc is 100.00 
This summary was machine generated from LSEG data November 1 at
03:44 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024      0.70           0.82           Beat
 Jun. 30 2024      0.64           0.67           Beat
 Mar. 31 2024      1.92           1.97           Beat
 Dec. 31 2023      1.08           1.10           Beat