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WEC Energy beats estimates with Q2 net income, raises full-year guidance

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WEC Energy beats estimates with Q2 net income, raises full-year guidance

WEC Energy Group Inc. on Aug. 5 reported net income attributed to common shareholders of $235.7 million, or 74 cents per share, in the 2019 second quarter, up from $231.0 million, or 73 cents per share, in the year-ago period.

The S&P Global Market Intelligence consensus normalized earnings estimate for the quarter was 70 cents per share.

Second-quarter operating revenues were $1.59 billion, a drop from $1.67 billion a year earlier. The utility also reported operating income of $314.6 million, lower than the $330.8 million reported in the second quarter of 2018.

"Our focus on financial discipline and operating efficiency were major factors driving our positive results — despite very mild weather in this year's second quarter," Executive Chairman Gale Klappa said.

Looking ahead, the company raised its full-year 2019 earnings guidance to $3.50 per share to $3.53 per share, with an expectation of reaching the top end of the range.