WEC Energy Raises Earnings Guidance - Quick Facts

(RTTNews) - WEC Energy Group (WEC) increased its earnings guidance for 2019 to a range of $3.50 to $3.53 per share with an expectation of reaching the top end of the range. Analysts polled by Thomson Reuters expect the company to report profit per share of $3.51. Analysts' estimates typically exclude special items.

For the second-quarter, earnings per share was $0.74 compared to $0.73, prior year. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.70, for the quarter.

Second-quarter operating revenues declined year-on-year to $1.59 billion from $1.67 billion, previous year. Analysts expected revenue of $1.67 billion for the quarter.

Retail deliveries of electricity — excluding the iron ore mine in Michigan's Upper Peninsula — were down by 5.9 percent. On a weather-normal basis, retail deliveries of electricity — excluding the iron ore mine — decreased by 1.6 percent.

Natural gas deliveries in Wisconsin, excluding gas used for power generation, fell by 2.9 percent. On a weather-normal basis, natural gas deliveries rose by 0.7 percent.