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WEC Energy Q1 income up on Integrys acquisition


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WEC Energy Q1 income up on Integrys acquisition

WEC EnergyGroup Inc. reported a year-over-year increase in its first-quarter2016 adjusted net income to $346.2 million, or $1.09 per share, versus $204.1million, or 90 cents per share, for the first quarter of 2015. The result beatsthe S&P Global Market Intelligence normalized EPS consensus estimate of$1.01.

WEC Energy Group was formed through Wisconsin Energy Corp.'sacquisition of Integrys Energy Group Inc. in mid-2015. The acquisition helped improvethe WEC Energy's results.

First-quarter 2016 operating revenues were up to $2.19billion from $1.39 billion in the first quarter of 2015, driven by the additionof $980 million of revenue from Integrys.

Operating income rose to $589.3 million during the 2016first quarter from $358.8 million in the opening months of 2015.

First-quarter 2016 GAAP earnings were also up to $346.2million, or $1.09 per share, from $195.8 million, or 86 cents per share, in thefirst quarter of 2015.

WEC Energy has scheduled a conference call at 2 p.m. ET onMay 3 to discuss its results.