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WEC Energy Group Income Statement

Revenue, expenses, and profitability over time

WEC Energy Group generated $10.1B in trailing twelve-month revenue, up 0.1% year-over-year. Net income was $1.6B with a 16.22% net margin. Gross margin stands at 65.38% and operating margin at 22.68%. Diluted EPS is $5.00, which declined 0.0% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$10.1BGross Profit (TTM)$6.6BOperating Income (TTM)$2.3BNet Income (TTM)$1.6BEps Diluted (TTM)$5.00
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$36.8B
P/E Ratio22.51
ROE11.69%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Depreciation and amortization$344M$359.9M$368.9M$373.4M$376.3M$379.8M
Impairment charges$3M$36.5M$36.5M$36.5M$36.5M—
Impairments related to Illinois segment$3M$32.5M$32.5M$32.5M$32.5M—
Other operating expenses—$3.4M$596.2M$605.1M—$5.8M
Provision for credit losses$31.5M$32.6M$35.4M$32.8M$42M$65.5M
Restructuring charges—$0$0$0$0—
Total operating expenses$1.7B$2.2B$1.6B$1.7B$2.1B$2.5B

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$1.43$2.28$0.77$0.84$0.97$2.47
Diluted earnings per share$1.43$2.27$0.76$0.83$0.96$2.45
Continuing operations (in dollars per share)—$2.3$0.8$0.8—$2.5
Continuing operations (in dollars per share)—$2.3$0.8$0.8—$2.5
Weighted-average shares, basic316.2M318.2M320.3M323.5M321.9M325.6M
Weighted-average shares, diluted316.5M319.3M322.2M325.6M323.8M328.3M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income from equity method investments—$53.6M$51.9M$54.8M—$59.5M
Gain (loss) on extinguishment of debt$5.8M$0$0$0$0—
Gain (loss) on disposal of assets$2.9M-$800K———-$1.4M
Interest expense$218.5M$223M$220.8M$223.6M$227.7M$228.5M
Interest income$4.3M$3.3M———$1.1M
Other income (expense), net-$76.7M-$151.3M-$142.4M-$145M-$132.7M-$120.8M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$1.5B$2B$1.4B$1.5B$1.6B$2B
Operating income$590.9M$937.5M$404.9M$449.6M$452.9M$980M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$514.2M$786.2M$262.5M$304.6M$320.2M$859.2M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$61.1M$60.7M$19.5M$34.4M$3.4M$53.1M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income attributable to noncontrolling interests-$1.6M$1M-$2.7M-$1.4M-$100K$1.4M
Net income$453.1M$725.5M$243M$270.2M$316.8M$806.1M
Income from continuing operations$1.5B$724.2M$245.4M$271.3M$1.3B$804.4M
Preferred stock dividends$300K$300K$300K$300K$300K$300K

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Adjustment For Amortization$13.5M$13.9M$14.8M$14.7M$14.7M$15M
Pre-tax stock-based compensation cost$9.8M$12.1M$12.1M$12.1M$12.1M—
Additions / (Releases)$69.2M-$3.4M-$17.2M-$12.7M$47.4M-$7.3M
Accounts Receivable, Allowance for Credit Loss, Recovery$17.2M$29.2M$24.4M$33.5M$20.8M$22M
Accounts Receivable, Allowance for Credit Loss, Writeoff$73M$60.1M$54.8M$52.9M$73.2M$60.6M
Amounts refundable to customers-$550K$10.9M$10.9M$10.9M$10.9M—
Changes in estimated cash flows$1.6M$5.9M$5.9M$5.9M$5.9M—
Capital investments accrued but not yet paid$122.3M$146.7M$7.2M$73.7M$4.4M$154.4M
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation-$318.8M$101.2M—$48.5M—$36.4M
Dividends declared (in dollars per share)$0.83$0.89$0.89$0.89$0.89$0.95
Comprehensive Income (Loss), Net of Tax, Attributable to Parent$453.6M$724.1M$245.4M$271.3M$316.9M$804.5M
Less: comprehensive income attributable to noncontrolling interest-$700K$1M-$2.7M-$1.4M-$100K$1.4M
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest$453.2M$725.4M$243M$270.2M$317.1M$806.2M
Cost of natural gas sold$398.1M$775.4M$178.7M$105.7M$531.1M$941.2M
Federal-$44.6M-$60.6M-$60.6M-$60.6M-$60.6M—
Current State And Local Tax Expense Benefit-$32.1M-$2M-$2M-$2M-$2M—
Federal$96.6M$60.2M$60.2M$60.2M$60.2M—
Deferred and other income taxes$160.7M$55.6M$164.4M$76.2M$72.3M$27.8M
State$38.1M$33.9M$33.9M$33.9M$33.9M—
Defined Contribution Plan Cost Recognized$15.4M$16.8M$16.8M$16.8M$16.8M—
Derivative, Gain (Loss) on Derivative, Net-$16.5M-$400K$9.8M-$7M-$2.8M$31.4M
Dividends, Common Stock, Cash$265M$283.6M$285.1M$288.7M$290.4M$310.1M
Effective tax rates—$0.1$0.1$0.1—$0.1
Income taxes at U.S. statutory rate of 21%—$0.2$0.2$0.2—$0.2
Effective Income Tax Rate Reconciliation Other Reconciling Items Percent0.2%0.4%——0.7%0.7%
State income taxes – net of federal income tax benefit—$0.1$0.1$0.1—$0.1
Changes in unrecognized tax benefits0.0%0.0%——-0.1%0.0%
Effective Income Tax Rate Reconciliation, Tax Credit, Energy-Related, Amount$50M$120.1M———$129.7M
Effective Income Tax Rate Reconciliation, Tax Credit, Energy-Related, Percent11.5%15.3%——15.6%15.1%
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Percent0.6%0.4%15.3%10.9%0.5%0.5%
Effective Income Tax Reconciliation Allowance For Funds Used During Construction Capitalized Cost Of Equity0.7%1.1%1.0%1.5%1.3%2.2%
Federal excess deferred tax amortization, percent-2.1%-2.4%——-2.6%-2.2%
Share-Based Payment Arrangement, Expense, Tax Benefit$2.7M$3.3M$3.3M$3.3M$3.3M—
Equity Securities, FV-NI, Unrealized Loss—$1.8M———$1.7M
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Sales$0$0———$300K
Purchases/originations$1.2M$1.2M$22.5M$0$0$0
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements$5.2M$5.7M$6.8M$8.3M$4M$3.5M
Realized and unrealized gains (losses): Included in income (loss)-$200K-$300K$300K-$100K$100K$0
Fuel and purchased power costs$340.3M$390.3M$391.8M$502.4M$390.4M$449.8M
Goodwill Period Increase Decrease$0$0$0$0$0$0
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions$28.1M-$2.2M$5.6M$14.1M$11.7M$13.3M
Equity in earnings of transmission affiliates$51.9M$53.6M———$59.5M
Federal taxes-$66.3M-$64.1M-$64.1M-$64.1M-$64.1M—
State taxes$200K-$6.3M-$6.3M-$6.3M-$6.3M—
Income Tax Reconciliation Allowance For Funds Used During Construction Capitalized Cost Of Equity$3.2M$8.5M$2.7M$4.6M$5.2M$19.1M
Federal excess deferred tax amortization, amount-$9.2M-$18.7M———-$18.5M
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount$108.1M$164.8M$55.6M$64.3M$67.2M$180.1M
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount—-$5.5M-$1.3M-$3.9M-$100K-$10.9M
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount$32.1M$48.5M$15.2M$18.5M$19M$49.3M
Changes in unrecognized tax benefits-$100K$100K———$0
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Amount—$3.3M$40.5M$33.4M—$3.9M
Income Taxes Paid, Net-$49.6M$0-$133.2M-$86.8M-$61.3M$0
Increase (Decrease) in Accounts and Other Receivables$485.5M$180.3M-$316.7M-$231.6M$779.8M-$77.9M
Accounts payable$251.4M-$195.4M——$191.7M-$201M
Increase Decrease In Interest Payable Net—$83.5M———$102.8M
Increase (Decrease) in Inventories$23.3M-$237.2M—$139.6M-$39.2M-$191.1M
Increase (Decrease) in Other Current Assets$32.6M-$13M-$52.4M——$10.2M
Increase (decrease) in other current liabilities$89M$74.2M-$80.6M$13.5M$79.4M-$47.9M
Incremental Common Shares Attributable To Conversion Of Debt Securities0600K1.3M1.6M1.3M2.2M
Add - Incremental shares under stock-based compensation plans (in shares)—$500K$600K$500K$100K$500K
Interest Paid, Excluding Capitalized Interest, Operating Activity$252.6M$132.4M$296.8M$126.2M$303.1M$120.5M
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders$1M$1.8M$1.5M$3.2M$3.1M$3.1M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation$848.7M$40.4M-$56.5M$707.3M$832.8M-$295.6M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$1.7B-$1.1B-$871M-$1.6B-$1.3B-$886.4M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$581.8M$1.2B$853.3M$938.9M$424.6M$1.2B
Net Income Loss Attributable To Noncontrolling Interest-$1.6M$1M-$2.7M-$1.4M-$100K$1.4M
Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component-$20.9M-$675K-$675K-$675K-$675K—
Noncontrolling Interest Increase From Business Combination$24.9M$45.1M————
Purchase of non-controlling interest—————$800K
Number of reportable segments—6.00———6.00
Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost$100K$0$100K$0$100K$100K
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax$100K$100K$100K$0$0$0
Other comprehensive income (loss)—-$100K$0$0$300K$100K
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax-$50K-$100K-$100K-$100K-$100K—
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax-$25K-$50K-$50K-$50K-$50K—
Other Nonoperating Income—$900K———$2.2M
Other income, net (Note 6)$49.5M$18.1M$26.5M$23.8M$39.5M$48.2M
All other operating activities-$51.5M-$8.9M$22.9M-$53.2M$132.4M-$90.9M
Other, net$275K$450K$450K$450K$450K—
Payments for Asset Acquisition Eight, Net of Cash Acquired$107.8M$0$0$0$0—
Payments for Asset Acquisition Seven, net of cash acquired$115.6M$0$0$0$0—
Payments for Assets Acquisition Four, net of cash acquired$525K$0$0$0$0—
Payment for (Proceeds from) Other Investing Activity-$5.8M-$8M$13M-$21.5M-$15.6M$14.4M
Payments for Restructuring$125K$175K$175K$175K$175K—
Payments of Ordinary Dividends, Common Stock$265M$283.6M$285.1M$288.7M$290.4M$310.1M
Payments To Acquire Assets Investing Activities$0$406.1M——-$406.1M$0
Payments To Acquire Interest In Subsidiaries And Affiliates$0$42.3M$45.5M$54.6M$0$75.8M
Payments To Acquire Other Property Plant And Equipment$695.3M$1.1B$1.1B$1.1B$1.1B—
Payments to Acquire Property, Plant, and Equipment—$701.1M$829.4M$1.6B—$817.9M
Payment for Pension and Other Postretirement Benefits$3.5M$3.9M$3.2M$3.2M$3.4M$3.8M
Proceeds From Collection Of Advance To Affiliate$1.9M$39.7M——$100K$0
Proceeds from Issuance of Common Stock$112.4M$117.1M$281.7M$347.8M$15.3M$12.8M
Debt issued (Note 13)$1.8B$0$1B$919.6M$899.9M$1B
Financing — other-$3.8M-$5.9M—-$3.5M-$4.7M-$11.2M
Short-term borrowings/(repayments) less than 90 days — net—$209.5M-$517.5M$449.7M$665.2M$119.2M
Proceeds from disposition of property, plant and equipment/other—$0———$21.7M
Cash received from option exercises$10.3M$21.2M$3.5M$12.9M$1.5M$7.4M
Net additions (releases) charged to costs and expenses$31.5M$32.6M$35.4M$32.8M$42M$65.5M
Allowance for Funds Used During Construction, Capitalized Interest$4.9M$9.8M$9.8M$9.8M$9.8M—
Allowance for Funds Used During Construction, Equity$15M$17.3M———$44M
Increase in receivables for corporate-owned life insurance proceeds—$4M———$400K
Increase in receivables related to property damage insurance proceeds$575K$875K$875K$875K$875K—
Repayments of Long-Term Debt$1.3B$17.9M$549.7M$718.3M$443M$1.1B
Restructuring Reserve Accrual Adjustment1-$975K—————
PTCs sold to third parties$67.3M$64.1M$64.1M$64.1M$64.1M—
Property, plant, and equipment additions$1.7B$1.1B$829.4M$1.6B$1.3B$817.9M
Shares issued - At-the-market offering program1M977.8K2.5M3.1M6.6M0
Stock Issued1—$3.2M———$4.2M
Shares Issued - 401(k)336.8K43.3K71.8K70.2K247.9K30.9K
Employee Stock Purchase Plan, number of shares purchased by employees423.4K88.8K87.1K85.2K343K82K
Distributed under benefit plans455.5K342.7K47.4K197K610K151.2K
Stock Issued During Period, Value, Stock Options Exercised$10.3M$21.2M$3.5M$12.9M$1.5M$7.4M
Stock Repurchased During Period Shares23.3K———13.8K—
Stockholders' Equity, Other-$1.7M-$2M-$1.8M-$2M-$3.2M-$2.8M
Taxes other than income taxes and other – net$71.8M$78.4M$69M$67.8M$64.9M$74.7M
Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions$50K$375K$375K$375K$375K—
Unrecognized tax benefit, penalty expense (benefit)$0$0$0$0$0—
Additions for tax positions of prior years$0$25K$25K$25K$25K—
Unrecognized tax benefit, interest expense (income)$75K-$150K-$150K-$150K-$150K—
Valuation Allowances And Reserves Adjustments—-$6M-$6M-$6M-$6M—
Valuation Allowances And Reserves Charged To Cost And Expense$26.2M$35.7M$35.7M$35.7M$35.7M—
Deferral - addition$9M—————
Valuation Allowances And Reserves Deductions$42.9M$33.3M$33.3M$33.3M$33.3M—

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$738.4M$1.2B$570.5M$608.1M$921.5M$1.4B

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$2.3B$3.1B$2B$2.1B$2.5B$3.4B