WEC Energy Group Announces Retreat In Q1 Income, but beats estimates

(RTTNews) - WEC Energy Group (WEC) reported a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $507.5 million, or $1.61 per share. This compares with $565.9 million, or $1.79 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.59 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.7% to $2.89 billion from $2.91 billion last year.

WEC Energy Group earnings at a glance (GAAP) :

-Earnings (Q1): $507.5 Mln. vs. $565.9 Mln. last year. -EPS (Q1): $1.61 vs. $1.79 last year. -Analyst Estimates: $1.59 -Revenue (Q1): $2.89 Bln vs. $2.91 Bln last year.

-Guidance: Full year EPS guidance: $4.58 to $4.62