WEC Energy posts higher profit as data center demand grows
WEC•Revenue, costs and guidance
- 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.
- 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.
Profit rises on higher commercial electricity sales
July 29 (Reuters) - WEC Energy Group reported a nearly 22% rise in second-quarter profit on Wednesday, as higher electricity sales to commercial and industrial customers like data centers boosted revenue and offset rising costs.
- 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.
- By the end of 2030, about 15% of the company's asset base would be dedicated to data centers and other very large energy users, WEC Energy CEO Scott Lauber said.
- One of the largest data center customers WEC has contracted to supply electricity to — an Oracle data center campus in Port Washington, Wisconsin — is moving ahead with construction despite clashing with the state over a requirement that the technology company provide more collateral for the project, Lauber said.
