Jun 2026 (Q2 FY26) — Jul 29, 2026
WEC Energy Group Q2 FY26 — Strong Data Center Growth Drives Capital Plan and Reaffirmed Guidance
Read the full callWEC Energy Group (WEC) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
WEC Energy Group earnings: last reported Wed, 29 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 2,062 | +2.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 21.0 | +0.8 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | Quarterly, as filed | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. |
Guidance
What management said, and what became of it
9 of 9 judged targets kept · 25 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| 2025 common equity issuance | $700 million to $800 million in 2025 | Sep 2024 | Last year, we raised $800 million this year. | Achieved |
| Full-year 2026 weather-normal retail electric sales growth | Around 1.5% growth for the year | Mar 2026 | we expect full year 2026 whether-normalized electric sales, excluding the iron ore mine and VLC customers to be relatively even with 2025 | Diluted |
| 2026 common equity issuance | $900 million to $1.1 billion in 2026 | Sep 2025 | In total, we expect to issue about $1.1 billion of common equity this year. | On Track |
25 of WEC ENERGY GROUP, INC.'s 34 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 31 more targets are in the full ledger.
Claimed
- Q2 FY26 earnings increased by $0.15 per share YoY to $0.91, driven by utility operations and energy infrastructure.
- Reaffirmed full-year 2026 earnings guidance of $5.51 to $5.61 per share, assuming normal weather.
- Robust 5-year capital plan of $37.5 billion, with 15% of asset base dedicated to very large customers by 2030.
- Long-term EPS growth target of 7% to 8% annually (2026-2030), accelerating to the upper half of the range starting 2028.
- Increased dividend by 6.7%, marking the 23rd consecutive year of higher dividends, consistent with 6.5% to 7% growth plan.
Qualified
- Weather negatively impacted Q2 FY26 earnings by $0.05 per share compared to Q2 FY25.
- Higher depreciation and amortization expense reduced Q2 earnings by $0.05 per share.
- Higher day-to-day O&M reduced Q2 earnings by $0.03 per share.
- Labor force challenges are slowing the pipe retirement program in Chicago, reducing 2026 spending.
- Oracle's lawsuit against the VLC tariff and credit requirements, though management expresses confidence in the project's timeline.
Price
$107 −1.57% · −$1.71
Performance −8.4% 1Y
1Y: $116.84 on 17 Oct 2025 → $107. High $118.85 (26 Jun 2026), low $100.78 (30 Sept 2026).
- Previous close
- $108.71
- 52-week range
- $100.78 – $118.85
- One year
- −8.94%
Overview
- Symbol
- WEC
- Sector
- Utilities
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
9 of 9 judged targets kept · 25 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| 2025 common equity issuance | $700 million to $800 million in 2025 | Sep 2024 | Last year, we raised $800 million this year. | Achieved |
| Full-year 2026 weather-normal retail electric sales growth | Around 1.5% growth for the year | Mar 2026 | we expect full year 2026 whether-normalized electric sales, excluding the iron ore mine and VLC customers to be relatively even with 2025 | Diluted |
| 2026 common equity issuance | $900 million to $1.1 billion in 2026 | Sep 2025 | In total, we expect to issue about $1.1 billion of common equity this year. | On Track |
Claimed
- Q2 FY26 earnings increased by $0.15 per share YoY to $0.91, driven by utility operations and energy infrastructure.
- Reaffirmed full-year 2026 earnings guidance of $5.51 to $5.61 per share, assuming normal weather.
- Robust 5-year capital plan of $37.5 billion, with 15% of asset base dedicated to very large customers by 2030.
- Long-term EPS growth target of 7% to 8% annually (2026-2030), accelerating to the upper half of the range starting 2028.
- Increased dividend by 6.7%, marking the 23rd consecutive year of higher dividends, consistent with 6.5% to 7% growth plan.
Qualified
- Weather negatively impacted Q2 FY26 earnings by $0.05 per share compared to Q2 FY25.
- Higher depreciation and amortization expense reduced Q2 earnings by $0.05 per share.
- Higher day-to-day O&M reduced Q2 earnings by $0.03 per share.
- Labor force challenges are slowing the pipe retirement program in Chicago, reducing 2026 spending.
- Oracle's lawsuit against the VLC tariff and credit requirements, though management expresses confidence in the project's timeline.
The full ledger
Open WEC ENERGY GROUP, INC.’s full ledger
A free account opens 5 company ledgers a month. All 34 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 5, 2026
WEC Energy Group Q1 FY26 — EPS up $0.18 as VLC tariff approval unlocks multi-gigawatt data center pipeline
Read the full callDec 2025 (Q4 FY25) — Feb 5, 2026
WEC Energy Group Q4 FY25 — Data Center Growth Drives Expanded Capital Plan and Reaffirmed Long-Term EPS Growth
Read the full callEvery analysed call
WEC Energy Group earnings calls (WEC)
Financials
What the filings say
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,864 | 2,284 | 3,150 | 2,010 | 2,104 | 2,537 | 3,434 | 2,062 |
| Expenses | 1,480 | 1,693 | 2,212 | 1,605 | 1,654 | 2,084 | 2,454 | 1,629 |
| Operating profit | 384 | 591 | 938 | 405 | 450 | 453 | 980 | 433 |
| Operating margin | 20.6% | 25.9% | 29.8% | 20.1% | 21.4% | 17.9% | 28.5% | 21.0% |
| Other income | -113 | -77 | -151 | -142 | -145 | -133 | -121 | -105 |
| Interest | 204 | 219 | 223 | 221 | 224 | 228 | 229 | 229 |
| Profit before tax | 270 | 514 | 786 | 263 | 305 | 320 | 859 | 328 |
| Tax rate | 11.7% | 11.9% | 7.7% | 7.4% | 11.3% | 1.1% | 6.2% | 8.2% |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Reserves | 5,538 | 5,928 | 6,330 | 6,775 | 7,265 | 7,613 | 8,084 | 8,494 |
| Total liabilities | 23,633 | 24,697 | 26,366 | 27,875 | 30,256 | 31,868 | 34,561 | 37,466 |
| Fixed assets | 22,001 | 23,620 | 25,707 | 26,982 | 29,114 | 31,582 | 34,645 | 38,278 |
| Total assets | 33,476 | 34,952 | 37,028 | 38,989 | 41,872 | 43,940 | 47,363 | 51,518 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 2,446 | 2,346 | 2,196 | 2,033 | 2,061 | 3,018 | 3,212 | 3,379 |
| Cash from investing | -2,384 | -2,495 | -2,807 | -2,312 | -2,642 | -3,558 | -3,802 | -4,875 |
| Cash from financing | 26 | 86 | 601 | 294 | 676 | 523 | 468 | 1,524 |
| Net cash flow | 88 | -64 | -10 | 15 | 95 | -17 | -123 | 29 |
| Capital expenditure | -2,417 | -2,529 | -2,874 | -2,373 | -2,697 | -2,493 | -2,781 | -4,398 |
| Free cash flow | 28 | -183 | -678 | -340 | -636 | 526 | 431 | -1,019 |
WEC revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Wisconsin | 85% | 70% | 65% | 79% | 85% | 73% | 68% | 79% | +2.2% |
| Illinois | 9% | 21% | 25% | 13% | 9% | 17% | 22% | 13% | -3.1% |
| Non Utility Energy Infrastructure | 9% | 8% | 6% | 9% | 9% | 8% | 6% | 10% | +13.8% |
| Other States | 3% | 6% | 7% | 4% | 3% | 7% | 7% | 4% | +2.4% |
| Corporate and Other | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
| Electric Transmission | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
75 filings between Nov 7, 2025 and Aug 27, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$5.86M
15 sales by 6 insiders
Compensation
not trading decisions- 23
- Award — granted as compensation
- 6
- Option exercise — converted options into shares
- 22
- Tax withheld — shares kept back by the company to cover tax
Also filed: 7 dispositions to the issuer, 2 I filings.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| KLAPPA GALE E | — | $3.84M | Feb 23, 2026 |
| Lauber Scott J | — | $895.5K | Feb 9, 2026 |
| Krueger Daniel | — | $517.6K | May 19, 2026 |
| Straka Mary Beth | — | $325.1K | Feb 13, 2026 |
| PAYNE ULICE JR | — | $269.6K | Aug 11, 2026 |
| Erickson Joshua M | — | $11.2K | Nov 7, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 27, 2026 | Krueger Daniel EVP WEC Infrastructure | Code I | 2,800 | $298.1K |
| Aug 11, 2026 | PAYNE ULICE JR Director | Sale | 980 | $103.5K |
| May 19, 2026 | Krueger Daniel EVP WEC Infrastructure | Sale | 1,665 | $185.0K |
| May 19, 2026 | Krueger Daniel EVP WEC Infrastructure | Sale | 1,000 | $110.9K |
| May 19, 2026 | Krueger Daniel EVP WEC Infrastructure | Sale | 2,000 | $221.7K |
| May 19, 2026 | Krueger Daniel EVP WEC Infrastructure | Option exercise | 4,665 | $272.0K |
| Apr 1, 2026 | Hooper Michael EVP & Chief Operating Officer | Tax withheld | 424 | $49.2K |
| Feb 24, 2026 | PAYNE ULICE JR Director | Sale | 1,450 | $166.2K |
| Feb 23, 2026 | KLAPPA GALE E Director | Sale | 3,180 | $367.1K |
| Feb 23, 2026 | KLAPPA GALE E Director | Option exercise | 3,180 | $216.8K |
| Feb 17, 2026 | KLAPPA GALE E Director | Option exercise | 5,000 | $340.9K |
| Feb 17, 2026 | KLAPPA GALE E Director | Sale | 5,000 | $582.8K |
| Feb 13, 2026 | KLAPPA GALE E Director | Sale | 5,000 | $577.5K |
| Feb 13, 2026 | KLAPPA GALE E Director | Sale | 5,000 | $577.3K |
| Feb 13, 2026 | KLAPPA GALE E Director | Option exercise | 25,000 | $1.70M |
| Feb 13, 2026 | KLAPPA GALE E Director | Sale | 5,000 | $576.9K |
| Feb 13, 2026 | KLAPPA GALE E Director | Sale | 5,000 | $577.3K |
| Feb 13, 2026 | Straka Mary Beth Sr. VP-Corp Comm & Inv Rel | Sale | 2,815 | $325.1K |
| Feb 13, 2026 | KLAPPA GALE E Director | Sale | 5,000 | $577.1K |
| Feb 13, 2026 | Straka Mary Beth Sr. VP-Corp Comm & Inv Rel | Option exercise | 2,815 | $185.8K |
| Feb 9, 2026 | Lauber Scott J President and CEO | Sale | 8,089 | $895.5K |
| Feb 9, 2026 | Lauber Scott J President and CEO | Option exercise | 8,089 | $471.6K |
| Jan 5, 2026 | KELSEY MARGARET C Executive VP & General Counsel | Tax withheld | 166 | $17.4K |
| Jan 5, 2026 | Guc William J Vice President & Controller | Tax withheld | 61 | $6.4K |
| Jan 5, 2026 | Erickson Joshua M VP and Deputy General Counsel | Tax withheld | 37 | $3.9K |
| Jan 5, 2026 | Lauber Scott J President and CEO | Tax withheld | 985 | $103.5K |
| Jan 5, 2026 | Liu Xia EVP and CFO | Tax withheld | 318 | $33.4K |
| Jan 5, 2026 | Mulroy Molly A EVP & Chief Admin Officer | Tax withheld | 153 | $16.1K |
| Jan 5, 2026 | Reese Anthony Vice President and Treasurer | Tax withheld | 38 | $4.0K |
| Jan 5, 2026 | Garvin Robert M Exec Vice President - Ext Affs | Tax withheld | 157 | $16.5K |
| Jan 5, 2026 | Straka Mary Beth Sr. VP-Corp Comm & Inv Rel | Tax withheld | 61 | $6.4K |
| Jan 5, 2026 | Krueger Daniel EVP WEC Infrastructure | Tax withheld | 60 | $6.3K |
| Jan 2, 2026 | BAXTER WARNER L Director | Award | 1,603 | $0 |
| Jan 2, 2026 | PAYNE ULICE JR Director | Award | 1,603 | $0 |
| Jan 2, 2026 | KELSEY MARGARET C Executive VP & General Counsel | Tax withheld | 609 | $64.6K |
| Jan 2, 2026 | Straka Mary Beth Sr. VP-Corp Comm & Inv Rel | Award | 732 | $0 |
| Jan 2, 2026 | Lauber Scott J President and CEO | Tax withheld | 2,894 | $307.0K |
| Jan 2, 2026 | KELSEY MARGARET C Executive VP & General Counsel | Award | 2,246 | $0 |
| Jan 2, 2026 | Garvin Robert M Exec Vice President - Ext Affs | Award | 2,067 | $0 |
| Jan 2, 2026 | Lauber Scott J President and CEO | Award | 14,188 | $0 |
| Jan 2, 2026 | Liu Xia EVP and CFO | Tax withheld | 1,086 | $115.2K |
| Jan 2, 2026 | Liu Xia EVP and CFO | Award | 4,365 | $0 |
| Jan 2, 2026 | Lane Thomas K Director | Disposition to issuer | 1,750 | — |
| Jan 2, 2026 | Lane Thomas K Director | Award | 1,603 | $0 |
| Jan 2, 2026 | GREEN MARIA C Director | Disposition to issuer | 1,750 | — |
| Jan 2, 2026 | GREEN MARIA C Director | Award | 1,603 | $0 |
| Jan 2, 2026 | Guc William J Vice President & Controller | Tax withheld | 181 | $19.2K |
| Jan 2, 2026 | Guc William J Vice President & Controller | Award | 661 | $0 |
| Jan 2, 2026 | Farrow William M III Director | Disposition to issuer | 1,750 | — |
| Jan 2, 2026 | Farrow William M III Director | Award | 1,603 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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