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WEC Energy GAAP EPS of $1.61 beats by $0.03, revenue of $2.89B misses by $10M

May 01, 2023 7:01 AM ETWEC Energy Group, Inc. (WEC)By: Deepa Sarvaiya, SA News Editor
  • WEC Energy press release (NYSE:WEC): Q1 GAAP EPS of $1.61 beats by $0.03.
  • Revenue of $2.89B (-0.3% Y/Y) misses by $10M.
  • For the quarter, natural gas deliveries in Wisconsin — excluding natural gas used for power generation — fell by 10.5 percent compared to the first quarter of 2022. On a weather-normal basis, natural gas deliveries were 1.0 percent lower.
  • The company is reaffirming its 2023 annual earnings guidance of $4.58 to $4.62 per share ($4.61 consensus), assuming normal weather for the remainder of the year.

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