WEC Energy: 2Q Earnings Snapshot
Jul. 31, 2018
MILWAUKEE (AP) _ WEC Energy Group Inc. (WEC) on Tuesday reported second-quarter profit of $231.3 million.
The Milwaukee-based company said it had net income of 73 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The electricity and natural gas provider posted revenue of $1.67 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $1.61 billion.
WEC Energy expects full-year earnings to be $3.32 per share.
WEC Energy shares have dropped roughly 2 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 5 percent. The stock has risen nearly 5 percent in the last 12 months.