WEC Energy posts higher profit as commercial power demand grows
WEC•Demand outlook and earnings forecast
U.S. power consumption, which hit a second straight annual record high in 2025, is expected to rise further in 2026 and 2027 as data-center expansion and electrification drive demand. Commercial-sector growth is expected to outpace residential demand this year.
WEC provides electricity and gas to nearly 4.8 million customers in Wisconsin, Illinois, Michigan and Minnesota.
The company reaffirmed its 2026 earnings forecast of $5.51 to $5.61 per share. The midpoint of the range, $5.56, was below analysts' estimate of $5.60.
Revenue, expenses and net income in the quarter
- WEC's second-quarter operating revenue rose 2.6% to $2.06 billion, compared with analysts' average estimate of $2.05 billion, according to data compiled by LSEG.
- Total operating expense also rose about 1.5% to $1.63 billion, while interest expense was up 3.7% at $228 million.
- The Milwaukee-based company's net income grew to $299.2 million, or 91 cents per share, from $245.4 million, or 76 cents per share, a year earlier.
- Residential electricity use decreased 1.1% in the quarter.
