WEC Energy Group Third Quarter 2022 Earnings: Beats Expectations

WEC Energy Group (NYSE:WEC) Third Quarter 2022 Results

Key Financial Results

• Revenue: US$2.00b (up 15% from 3Q 2021).
• Net income: US$302.0m (up 4.1% from 3Q 2021).
• Profit margin: 15% (down from 17% in 3Q 2021). The decrease in margin was driven by higher expenses.
• EPS: US$0.96 (up from US$0.92 in 3Q 2021).

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

WEC Energy Group Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 11%.

Looking ahead, revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Integrated Utilities industry in the US.

Performance of the American Integrated Utilities industry.

The company's shares are up 2.5% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 2 warning signs for WEC Energy Group you should be aware of, and 1 of them is a bit concerning.

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