WEC Energy Group Full Year 2024 Earnings: Revenues Disappoint

WEC Energy Group (NYSE:WEC) Full Year 2024 Results

Key Financial Results

• Revenue: US$8.60b (down 3.3% from FY 2023).
• Net income: US$1.53b (up 15% from FY 2023).
• Profit margin: 18% (up from 15% in FY 2023). The increase in margin was driven by lower expenses.
• EPS: US$4.83 (up from US$4.22 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

WEC Energy Group Revenues Disappoint

Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) was mostly in line with analyst estimates.

The primary driver behind last 12 months revenue was the Utility Operations - Wisconsin segment contributing a total revenue of US$6.33b (74% of total revenue). Notably, cost of sales worth US$4.81b amounted to 56% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$1.35b (60% of total expenses). Explore how WEC's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Integrated Utilities industry in the US.

Performance of the American Integrated Utilities industry.

The company's shares are up 1.0% from a week ago.

Risk Analysis

Be aware that WEC Energy Group is showing 2 warning signs in our investment analysis and 1 of those is concerning...

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