trending Market Intelligence /marketintelligence/en/news-insights/trending/SaNWcBkOZFF8AceKTesDWA2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Buoyed by Integrys acquisition, WEC Energy beats estimates

Blog

COVID-19 Impact & Recovery: Energy Outlook for H2 2021

Blog

US utility commissioners: Who they are and how they impact regulation

Video

Climate Credit Analytics: Linking climate scenarios to financial impacts

Blog

Essential Energy Insights, April 2021


Buoyed by Integrys acquisition, WEC Energy beats estimates

WEC Energy Group Inc. on Feb. 1 reported 2016 fourth-quarter adjusted net income of $194.4 million, or 61 cents per share, compared to $197.8 million, or 62 cents per share, a year ago.

The results surpass the S&P Capital IQ consensus normalized estimate by a cent. WEC Energy President and CEO Allen Leverett said the improved results reflect the acquisition of Integrys Energy Group Inc. in June 2015.

Operating revenues for the fourth quarter of 2016 also increased to $1.96 billion from $1.85 billion in the same quarter in 2015, while operating income fell year over year by $18.5 million to $361.7 million in fourth-quarter 2016.

On a GAAP basis, WEC Energy booked fourth-quarter 2016 net income of $194.4 million, or 61 cents per share, compared with $179.3 million, or 57 cents per share, in the prior year.

The company's utilities added 35,000 customers year over year, according to a company release.

For the full-year 2016, WEC Energy generated adjusted net income of $941.1 million, or $2.97 per share, up from $720.7 million, or $2.64 per share, in full-year 2015. The S&P Capital IQ consensus normalized estimate for 2016 was $2.94.

The company reported operating revenues for 2016 of $7.47 billion, up from $5.93 billion in 2015. WEC's 2016 operating income lifted to $1.68 billion from $1.25 billion in 2015. On a GAAP basis, WEC recorded full-year 2016 net income of $939.0 million, or $2.96 per share, up from $638.5 million, or $2.34 per share, for full-year 2015.