WEC

It has been about a month since the last earnings report for WEC Energy Group (WEC). Shares have lost about 3.4% in that time frame, underperforming the S&P 500. But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is WEC Energy due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important catalysts. WEC Q2 Earnings Surpass on Rate Base Growth, Revenues Rise Y/YWEC Energy Group reported second-quarter 2026 earnings of 91 cents per share, which surpassed the Zacks Consensus Estimate of 80 cents by 13.75%. The bottom line also increased 19.74% from the year-ago quarter’s 76 cents, aided by rate base growth and stronger energy infrastructure results. Operating revenues of $2.06 billion missed the Zacks Consensus Estimate of $2.11 billion by around 2.26%. The top line also increased 2.62% from $2.01 billion recorded in the year-ago quarter. Retail electricity deliveries, excluding the iron ore mine and Very Large Customers, were essentially flat on a reported basis. Small commercial and industrial use declined 0.2%, while large commercial and industrial consumption increased 0.9%. Residential use fell 1.1%.On a weather-normal basis, retail electricity deliveries, excluding the iron ore mine and Very Large Customers, increased 1.2% during second-quarter 2026. Management said volumes grew across all customer classes and came in slightly ahead of its forecast, though it still expects full-year 2026 weather-normalized sales on this basis to be relatively even with 2025. Total electric sales volume for the second quarter was 10,150 thousand megawatt-hours, down 4.7% year over year. Total operating expenses increased 1.5% year over year to $1.63 billion, primarily reflecting a 3.5% rise in other operation and maintenance expenses to $617.1 million and a 4.3% increase in depreciation and amortization to $384.9 million.Operating income totaled $432.8 million, up 6.9% from $404.9 million recorded in the year-ago quarter.Equity earnings from transmission affiliates increased 20.6% to $62.6 million, while other income more than doubled to $61.5 million. The company incurred interest expense of $228.9 million, up 3.7% from the prior-year level of $220.8 million. As of June 30, 2026, WEC had cash and cash equivalents of $50 million compared with $27.6 million as of Dec. 31, 2025.As of June 30, 2026, long-term debt increased to $19.22 billion from $18.50 billion as of Dec. 31, 2025, while total assets rose to $52.75 billion from $51.52 billion over the same period.Net cash provided by operating activities increased 9.7% year over year to $2.21 billion in the first six months of 2026. For the six months ended June 30, 2026, capital expenditures rose 35.9% year over year to $2.08 billion. WEC also expects to issue about $1.1 billion of common equity during 2026. WEC Energy reaffirmed its 2026 earnings guidance of $5.51-$5.61 per share, assuming normal weather conditions for the remainder of the year. For the third quarter, management expects earnings of 92-98 cents per share. The company reaffirmed its long-term annual earnings growth target of 7-8% through 2030 and expects growth to trend toward the upper half of that range beginning in 2028.WEC's five-year capital plan calls for $37.5 billion of investment through 2030. The program includes $20.3 billion for electric generation, $7.1 billion for gas distribution, $4.7 billion for electric distribution, $4.1 billion for transmission and $1.3 billion for Wisconsin liquefied natural gas capacity.Data center demand remains central to the outlook. WEC forecasts 2.6 gigawatts of demand from Microsoft's regional development through 2030 and 1.3 gigawatts from the Vantage Data Centers over the next five years. Estimates revision followed a downward path over the past two months. Currently, WEC Energy has a subpar Growth Score of D, however its Momentum Score is doing a lot better with a B. Charting a somewhat similar path, the stock has a score of C on the value side, putting it in the middle 20% for this investment strategy. Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in. WEC Energy has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report WEC Energy Group, Inc. (WEC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Image source: The Motley Fool. Wednesday, July 29, 2026 at 2:00 p.m. ET President and Chief Executive Officer - Scott Lauber Chief Financial Officer - Xia Liu Senior Vice President of Corporate Communications and Investor Relations - Beth Straka Operator: Good afternoon, and welcome to WEC Energy Group's Conference Call for Second Quarter 2026 results. This call is being recorded for rebroadcast In conjunction with this call, a package of detailed financial information is posted at wecenergygroup.com. A replay will be available approximately 2 hours after the conclusion of this call. . Before the conference call begins, please note that all statements in the presentation, other than historical facts, are forward-looking statements that involve risks and uncertainties that are subject to change at any time. Such statements are based on management's expectations at the time they are made. In addition to the assumptions and other factors referred to in connection with the statements, factors described in WEC Energy Group's latest Form 10-K and subsequent reports filed with the Securities and Exchange Commission could cause actual results to differ materially from those contemplated. During the discussions, referenced earnings per share will be based on diluted earnings per share unless otherwise noted. And now it's my pleasure to introduce Scott Lauber, President and Chief Executive Officer of WEC Energy Group. Scott Lauber: Good afternoon, everyone. And thank you for joining us today as we review our results for the second quarter of 2026. Here with me are Shaw Liu, our Chief Financial Officer; and Beth Straka, Senior Vice President of Corporate Communications and Investor Relations. As you saw from our news release this morning, we reported second quarter 2026 earnings of $0.91 a share. Our results reflect our continued focus on execution, financial discipline and operating efficiency. We're on track to deliver results in line with our 2026 earnings guidance of $5.51 to $5.61 a share. This, of course, assumes normal weather for the remainder of the year. In a few minutes, Xia will walk through our financial results and outlook in more detail. But first, let me highlight the strong economic growth in our region that serves as a foundation of our robust capital plan. Construction continues at the Microsoft site in Pleasant Prairie. And the first data center facility is fully operational. As a reminder, Microsoft has purchased more than 2,200 acres to date in that I-94 corridor south of Milwaukee. We are preparing to serve a forecasted demand increase of 2.6 gigawatts in this region through 2030 and an opportunity for further expansion. And to the north of Milwaukee, you'll recall that Vantage Data Centers is developing facilities for Oracle on approximately 1,900 acres. Construction continues on the initial phase of its data center project which is being built on 670 acres. Vantage has stated that it expects to invest $15 billion to complete this phase in 2028. Significant construction progress has been made with structural framework complete on multiple buildings. The first facility could come online as soon as late 2027. We currently have 1.3 gigawatts of demand for this Vantage site in our forecast over the next 5 years. Looking to the future, this site has the potential to reach 3.5 gigawatts of demand over time. And there's other notable growth in our state. As a recent example, Rehlko, formerly known as Kohler Energy has announced plans to expand its production operations in Kenosha. The new facility is expected to complete in 2027 to produce backup generators for data centers. In addition, Waukegan Steel, a steel fabricating company is looking to move its headquarters from Illinois to Pleasant Prairie. Harley Davidson has also announced plans to bring some motorcycle production operations back from overseas to Wisconsin facilities. Wisconsin continues to be an attractive location for a variety of businesses. We are committed to meeting the growing demand across our service area as we invest in our systems for increased reliability and capacity. Our 5-year capital plan includes $37.5 billion of projected investments. It's based on projects that are low risk and highly executable with a good portion serving our very large customers. In total, by the end of 2030, we expect approximately 15% of our asset base to be dedicated to these very large customers. As you recall, we project long-term earnings per share growth of 7% to 8% a year on a compound annual basis between 2026 and 2030. This is based on the midpoint of our 2025 adjusted guidance. We expect that growth rate to accelerate to the upper half of the range starting in 2028. And as a reminder, on our major capital projects, construction continues on the new natural gas generation facilities in Paris and Old Creek, Wisconsin. We expect these facilities to start coming online in late 2027. Overall, we have a high level of confidence in our ability to execute on our capital plan and continue our growth trajectory. We are in the process of updating our next capital plan, and we look forward to sharing the details with you on our third quarter call. Now turning to the regulatory front. In May, the Public Service Commission provided the written order for our very large customer tariff or VLC. Under the tariff, the VLCs paid their full share of the cost. This is important to us, to the commission and to our customers, including the data center companies we are working with. I'm sure many of you are aware of the credit support required for Oracle for the Port Washington project. Oracle has stated it remains committed to the project, paying its full share of energy and providing the financial support needed, so there's no risk to other Wisconsin customers. We are actively working with Oracle to update the financial security in line with the PSCW requirements. We believe our VLC tariff provides a strong framework for data center growth in the region. For our non-VLC customers, progress continues on the rate request we filed in April for forward-looking test years 2027 and 2028. Our proposed plan would help us continue to strengthen key infrastructure and deliver the energy our customers depend on while remaining focused on affordability. Staff and intervener testimony is due in mid-August. We expect final orders from the commission by the end of the year with new rates effective in January '27 and 2028. Turning to Illinois. In May, the Illinois Commerce Commission unanimously approved the Rider QIP and bad debt writer settlements. The settlements resolve all issues relating to 12 open dockets. We also continue to make progress on the rate request for our Illinois utilities. A key driver for the Peoples Gas is to support the pipe retirement program in Chicago. We expect the decision by the end of the year for test year 2027. In summary, we're excited about the strong economic development in our region. We're focused on execution of our capital plan, designed to support thousands of jobs and strengthen our local economy. Next, I'll turn it over to Xia. Liu Xia: Thank you, Scott. Our second quarter 2026 earnings of $0.91 per share reflects a $0.15 increase compared to the second quarter of 2025. Our earnings package includes a comparison of second quarter results on Page 15. I'll walk through the significant drivers. Starting with our utility operations, earnings were $0.06 higher versus the second quarter of 2025. Weather negatively impacted quarter-over-quarter earnings by approximately $0.05. Compared to normal conditions, we estimate that weather had a $0.03 negative impact in the second quarter of 2026 compared to a $0.02 positive impact in the second quarter of 2025. Grid-based growth contributed $0.13 to earnings. This includes $0.09 of incremental AFUDC equity and $0.02 of incremental cash returns associated with projects under construction, mostly from projects supporting the VLC customers. In addition, sales growth, tax and other items contributed a total of $0.06 to earnings. These positive drivers were partially offset by $0.05 from higher depreciation and amortization expense and $0.03 from higher day-to-day O&M. Next, let me provide some additional color on our weather-normal retail electric deliveries. Compared to Q2 last year, total weather normal retail electric sales grew 4.2% this quarter, driven by growth from the VLCs. Excluding the iron ore mine and the VLC customers, we saw sales grow 1.2% driven by higher volumes across all customer classes. Although results came in slightly ahead of our forecast, we expect full year 2026 whether-normalized electric sales, excluding the iron ore mine and VLC customers to be relatively even with 2025. At American Transmission Company, significant capital investment growth contributed an incremental $0.03 to Q2 earnings compared to 2025. Turning to our Energy Infrastructure segment. Earnings were $0.11 higher in the second quarter of '26 compared to the same period in 2025. Remember, in Q2 last year, we recognized a loss related to an asset impairment due to storm damages. This Q2 we received an insurance payment from some storm damages that occurred before. These 2 items account for a net $0.04 in total. The rest of the positive variance was largely driven by O&M timing, PTCs and other items. Next, you'll see that earnings from the Corporate and Other segment decreased $0.03, driven by tax timing and higher interest expense. In terms of common equity, we locked in about $760 million in the first half of this year. This includes about $40 million issued under our employee benefit plan and $720 million via the ATM program under forward contracts that we will settle in the future. In total, we expect to issue about $1.1 billion of common equity this year. Going forward, as a reminder, any incremental capital beyond the current plan is expected to be funded with 50% equity content. Finally, let me comment on guidance. As Scott mentioned earlier, we are reaffirming our 2026 earnings guidance of $5.51 to $5.61 per share, assuming normal weather for the rest of the year. For the third quarter, we are expecting a range of $0.92 to $0.98 per share. This accounts for July weather and assumes normal weather for the rest of the quarter. We look forward to updating you in the fall as we refresh our capital and financing plans. With that, I'll turn it back to Scott. Scott Lauber: Thank you, Xia. Now as you may recall, our Board at its January meeting increased the dividend by 6.7%. This marks the 23rd consecutive year that our shareholders will be reported with higher dividends. The increase is consistent with our plan to grow the dividend at a rate of 6.5% to 7%. We're optimistic about continued growth in our region and our company's future. Operator, we are now ready with the question-and-answer portion of the call. . Operator: Your first question comes from the line of Shar Pourreza with Wells Fargo. . Shahriar Pourreza: Scott, let me just know it's on everyone's mind, just on the Port Washington project. Obviously, there's a lawsuit out there, and you guys seem like you're assisting them with sort of the collateral payment issue. But I guess any risk to the current site time line and even potential expansion opportunities? And couldn't just the site be redeployed to another hyperscaler the current customer not be able to fulfill its obligation maybe with stronger credit. Yes, just maybe Scott Lauber: Sure, sure. A little color on that. Well, we are working with the customer Oracle. And as we said in our prepared remarks, they're working to provide the credit support that we have in the new tariff -- in the updated tariffs. So they're working to get that, and I have confidence in that. That site construction is continuing going. They are moving along. It's on time, it's on budget. They're moving forward and talking about continuing on their time line. So no questions on that in my mind. You are correct. I mean I think if you go to a worst-case scenario that for some reason, they decided not to expand. I think there's a lot of opportunities for that site for anyone else. But at this point, I've no indication that's the case. And as long as they have the credit support with us and provide all those financial requirements, I feel good with the continued expansion. Shahriar Pourreza: Okay. That's good. I appreciate that. And then just lastly, Scott, we're obviously approaching Q3. Maybe this will be the final time we're going to be asking on Point Beach. Is it fair to assume you're going to be filing a generation plan in lieu of the PPAs later this year? Scott Lauber: Shar, I mean, we're finalizing everything on our third quarter call. And just to remind everyone, the first 500 megawatts comes due in that PPA in December of 2030, the next 500 megawatts is in March 2033. And just as a rule of thumb about a gigawatt is about $2 billion to $2.5 billion. So half of that for the 500 megawatts. As we said in the prior call, never say never. Things could always change. But capital is an option for this as we get to the fall, but we'll finalize on our third quarter call because we have to get orders out, et cetera. Operator: Your next question comes from the line of Julien Dumoulin-Smith with Jefferies. Julien Dumoulin-Smith: Look forward for that 3Q update. Let me ask you this. I mean, how are the discussions going vis-a-vis potentially other counterparties here? Just Obviously, we've seen success build upon success, especially geographically in regions like your own. How are you thinking about potentially a third or other hyperscalers or other data center parties following the lead here and enhancing negotiations -- advancing negotiations with you. Can you give us any latest flavor as to where things stand? Scott Lauber: Sure, sure. And we continue to have really good discussions with potential new very large customers. I would have to say these customers are probably not as large as what we're seeing in our first 2, more in that 400 to 500-megawatt size, but we're having really good discussions, more to come on that. But like you said, they kind of grow in the region, they grow. And I think our very large customer tariff has that transparency, has the complete openness that we're charging them their fair share. So I think it's a really good step forward to have that be approved by the commission now. Julien Dumoulin-Smith: Yes, absolutely. And then what is the status of the VLC tariff? And what do the PCA contracts cover? Just to kind of talk a little bit about some of the nuance of this vis-a-vis Oracle and Vantage here. And then also maybe just related to subpiece on that is following the PRC decision not to rehear the IG collateral requirements under the VLC. Are there any other next steps there? Or is that basically put to bed and is that final? Scott Lauber: Sure. That's a great question. So if you look at the Vantage Oracle site, currently, they're under the payment calculation agreements for them. So that kicks in. So we have the credit support very similar to the tariffs. Now that are in line with the tariffs. So the credit support as we spend that we don't spend without that credit support. And then it falls into the service agreements under the very large customer tariff. . In Oracle's case, it's right now, that site is being built by Vantage. We have the purchase cancellation or payment cancellation agreements with Oracle and getting that credit support. And then June 1 of next year, they'll enter into those service agreements for the site. So it's just a matter of timing because the site actually doesn't really get up until the end of '27. So that's why it's just the timing. Construction is going on right now. And the very large customer tariff, the rehearing, we asked for a reconsideration or rehearing, it didn't get picked up, our tariffs are as they stand today with that credit requirement of an A-, there is a case that's currently in 1 of the courts that Oracle brought. I think they're just trying to think about going forward where their credit need would be, and we'll see where that case goes regardless, a BBB- in what we filed in the rehearing request, what we actually asked for in the tariff, the original filing would require a credit support. So they're in the same position with the current rating of BBB-. So I don't think they're taken by surprise of that at all because we already had that as a provision in our filing. So this is more of getting back to that BBB or whatever as they work through their credit, how do they think about the future more long term, I think. Operator: Your next question comes from the line of Nick Campanella with Barclays. Nicholas Campanella: Thanks for all the updates. I just wanted to ask maybe coming back on the VLC but in a different manner. My understanding is the ATC line to serve the Vantage opportunity is going through the discovery phase at the commission. And I'm just wondering if you could provide an update on where that's trending? And is that in the formal capital plan today? Or as we look towards the third quarter refresh, how can we think about ATC's capital opportunity changing? Scott Lauber: Sure. And this current line is in our forecast in the current ATC plan. That is proceeding at the commission. You've maybe seen some back and forth. As you can imagine, this site is, I think, is a very accelerated basis. If you go by the site and we've talked about how that construction is progressing. There's been some updates to the filing. So there's been a little noise on updating stuff to make sure the commission has all the latest and greatest information. That line and our last schedule looks like it should be decided by the end of the year to get approval to move forward with that construction. So that's right now on task, I think the staff just provided some testimony the other day and now some testimony. I think from American Transmission Company and others is due by the August 7. So that's proceeding. If you think about transmission, this line, not in particular, because I think the majority of it is in this forecast. But when you think about other transmission projects, I think that's an opportunity as we look at our third quarter as maybe a little more growth in the transmission area. Nicholas Campanella: Great. And then with all the kind of focus on Vantage and Oracle and the potential expansion down the road, maybe can you provide an update on how you're thinking about Microsoft? And anything you'd be willing to share there? . Scott Lauber: Sure. Sure. And Microsoft's been continuing to proceed. Their first units online, the first data center's online. Things are moving ahead at the site That's been progressing. Every year, we've had an updated plan. There's always progression on the megawatts a little bit. Remember, we'll add another year to the plan. So I anticipate something a little bit more as we get to the third quarter, and we're working with them right now on what that number will be. So continued progression. The site is developing really well. The data centers are up and running and electricity is flowing and all the substations are moving actually ahead of schedule. So it's all -- everything has been really positive direction down there. Operator: Your next question comes from the line of Andrew Weisel with Scotiabank. Andrew Weisel: Okay. So you've talked in the past about having maybe 3 or 4 potential additional data center customers. Obviously, nothing to announce today. I'm not going to push you on that, but can you speak to whether those customers would either qualify or for the VLC or how your conversations are going around the implications and potential collateral obligations. Are these issues with Oracle causing any slowdown or any concerns among these customers? Scott Lauber: Sure, sure. Just to get everyone expectations, we're talking with a variety of customers. I would really looking at just kind of do it one at a time. So I just don't want everyone to think there's 3 or 4 are going to come in any day. so we're working on that. I don't think the collateral will be an issue long term. I think what we had in our very large customer filing was good. In fact, all 3 rating agencies said it was really good. But I think the key is we have true transparency so people know what that collateral need is. And as they look at our tariffs, they look at the sites, they understand the requirements. So I don't think it's going to hurt at all as we look at those new customers. Andrew Weisel: Okay. Great to hear. Then as you think about serving these data centers, how should we think about future generation capacity additions. You obviously have a lot of new build in the plan, nearly all related to various technologies around gas. You just talked about options to replace the [ nuke ] potentially, but to whatever degree you do get incremental data center contracts, how would we think about how you'd serve those? Would it be mostly or entirely gas? Or how do you think about that? Scott Lauber: Sure. And the data centers have signed up, both Oracle and Microsoft has signed up for the all of the above approach with renewables, batteries, and natural gas for that good backup. I think as we think going forward in this next 5-year plan, you may see versus a simple cycle, you may see a combined cycle in our plan just because we may need a little bit more energy than just capacity. So we're going through those analysis right now, our engineering and planning team just to make sure we have the right reliability and cost for all our customers. Does that make sense? Andrew Weisel: It does, yes. Very helpful. One more, if I may, on the regulatory side. You've actually got the 2 rate cases in Wisconsin and Illinois, both expected to be resolved around year-end if they were to fully litigated orders. How are you thinking about the potential for settlements? Wisconsin, obviously has a good history of deal making, whereas it's a lot less common in Illinois, but you did have the settlement on the rider there. So how are you thinking about opportunities for you, especially given the timing coinciding election season? Scott Lauber: Sure. Sure. And when you think about settlement, like you said, in Wisconsin, there's been a history and specifically with the individuals on this commission that there's been settlement like last year in 2 of the cases in the state. So I think there's an opportunity but that opportunity really doesn't happen until we start seeing the staff direct testimony and the intervenor direct testimony around mid-August. I think it's August 10 and August 14. So I'll come after that. We always have discussions and hope there's an opportunity for that. In Illinois, you're exactly right. Having the settlement on those 12 cases, I mean it was great to see and great to see that movement forward. Illinois is a little bit historically haven't had many settlements. So I don't -- I put that as a lower probability, but it doesn't mean that we won't have a discussion, but I just would not handicap that as a high probability just based on history. Operator: Your next question comes from the line of Sophie Karp with KeyBanc. Sophie Karp: Yes. So I was just curious if you could discuss the political environment in Wisconsin given the elections. How would you characterize the overall atmosphere in the state? And have you engaged with any of the candidates yet or prospective candidates yet before the primary. Just any color on that could be helpful. Scott Lauber: Sure, sure. So just to remind everyone, Wisconsin is a pretty purple state. We know the Republican candidate for the primary is Tom Tiffany that's -- who's slotted there. There's only 1 real candidate out there. And then the democratic candidate, there's about 5 of them out there. They are -- the primary is August 11, and we'll see who comes out of that primary to work against in the general election against Tom Tiffany. When you think about our positions and what we've been fortunate enough to do is that we've been working with both sides of the aisle and been very successful over the last decade -- several decades working on both sides of the aisle to promote a strong economy with a strong, reliable distribution, electric gas distribution system. So I feel good. We continue to work progressively with our governor and the legislature. In the debates, I mean, there's been several items that have come up, talk about inflation, economy, public safety, education and then, of course, infrastructure comes up. It's important for every official, the Governor as they get elected to make sure they understand data centers, make sure that they understand the economy and how that works. I think when you look at our tariffs having very much transparency in our tariffs for the very large customers is going to be very helpful. And all the customers we work with, they are committed to paying their fair share. So I think when you think about the transparency they're paying their fair share, the benefits and property taxes and they see the complete story and through transparency, I think that's going to be helpful as they look about where they govern the state of Wisconsin. We've had some discussion with some of them. I think as we get to the -- as we see who the next people who are running for Governor, we'll probably have more. The key is we work with both sides. It's just a matter of how do we make Wisconsin successful from economic and for all the Presidents of Wisconsin. So more to come, as you can imagine, through the rate over the next couple of months. Operator: your next question comes from the line of Michael Sullivan with Wolfe Research. . Michael Sullivan: Just following up on that, another on just like the political front. If you could just give us some perspective on potential for data center pushback, whether it be moratoriums at the state level or local site issues. Obviously, you have 2 very good and well-established sites with their existing customers, but just as you think of future new opportunities whether you're seeing that potential pushback? Scott Lauber: Sure. Sure. And One of the candidates has identified that they potentially would do a moratorium on data centers. I think right now, everyone is on the campaign trail that we really got to get them understanding the facts. There have been several communities that have brought up moratorium on data centers, but that's -- once again, they all are looking at getting those fact finding. And when you look at like our rate case that we filed and you look at the cost from corporate allocations to more efficiently working with our generation fleet and how you allocate costs, there's about $100 million of savings for our customers over the next 2 years from the value of the data centers. And there's probably more when you factor in grocer receipts tax and state taxes. And then some of the other items that are out there is the narrative about water usage. And when you think about water usage, people are looking at data centers under closed loop systems. And then they talk about generation. But when we look at our generation and you look from 2015 at the time we did the Integrys acquisition to our projections in 2030, our water consumption through generation is down about 25% to 30%, we project it will be. So water, it's not really on the generation side. So we just got to make sure each of these candidates understand the facts and the economic benefits from jobs to property taxes to even cost allocations for customers. So I think there's a lot of positive. We just got to make sure everyone has the facts in front of them. Michael Sullivan: Okay. Very helpful. And then just on the funding and financing side, I appreciate kind of the guidance of 50% equity for anything incremental. Just as you think about the capital plan continuing to grow, does it still make sense to primarily lean on the ATM for that? And then we had one of your peers earlier this week do something a little strategic with nonutility renewables. I know you're setup is a little bit different, but is that something you would consider as like a way to recycle capital to help on the funding of higher CapEx? Scott Lauber: Sure. And I'll let Xia because she's been looking at it and over the next couple of months before we get to the third quarter, we'll be looking at it even more. But xia, your thoughts? Liu Xia: Yes. we are very, very comfortable relying on the ATM program. I think it's very efficient. Last year, we raised $800 million this year. We're on track to accomplish the $1.1 billion. So we feel really good about the capability through the ATM program. Having said that, we are also looking at a variety of things, how do we make sure that the cash side is accumulating faster. You saw that in my prepared remarks, I called out some current returns on projects. So in -- under our tariffs, customers have the option to pay either AFUDC or we call current return basic cash returns. If you switch to more of the cash returns, that would give you more cash that would help us manage the funding needs. So we're thinking through all the angles to try to be efficient. But nothing is off the table right now. Operator: Your next question comes from the line of Richard Sunderland with Truist Securities. Richard Sunderland: Just turning back to Illinois. I'm curious how work is trending on the pipe program as you've been reramping that. Any recent learnings or takeaways and anything there that's informing the rate proceedings in the backdrop? Scott Lauber: Sure, sure. Great question. And you may have seen we updated our filings a little bit reducing our spending in 2026. To be quite honest, things are going really well. We're moving along well. However, the hardest part is trying to get labor force and some of the work that we need. It's just been more challenging, as you could imagine. And from our conference call and other, there's a lot of economic development from data centers to generation to a variety of items that are challenging to get ramping up that workforce. We are working through a variety of methods to bring in talent and do the proper training to get the workforce ramped up, but it's going a little bit slower than we would like in 2026 here, but we anticipate to be able to ramping that up as we move forward in '27. So it's going fine from an execution plan, et cetera, just a little bit hard to get those resources that we need. Richard Sunderland: Got it. Appreciate the color there. And I'll stick with Illinois, I guess, zooming out to the topic of future of gas that we've talked about a number of ways over the past few years. How do you see that conversation currently standing? And I guess how is that standing amid national and state affordability backdrops as well? Scott Lauber: Yes. The future of gas has been kind of moved out over the last couple of years. They're still having sessions, they're still talking about it. I think what we're learning is gas is very valuable. And in the backdrop of the tremendous electricity demand that it probably isn't as much as the pushing of the electrification at one time just because of pure economics and costs along with where do you need the electricity. So they're still having the future of gas. They're still having discussions, but that's getting, I think, by the end of the year, something is supposed to come out on that. Operator: Your next question comes from the line of Jeremy Tonet with JPMorgan. Jeremy Tonet: Just want to come back, I guess, to some of the earlier points you were discussing and see what's in the capital plan, what will be upside to the capital plan. I just want to confirm when you talk about Point Beach replacement capital. If you're talking about another data center, a third customer there, these are all upside to the capital budget. And if this comes in, would you think of this as kind of like with the EPS CAGR as you see it or presenting upside to the current 5-year range? Scott Lauber: So we're pulling those plans together, but you nailed the drivers. The growth in the current data centers, specifically, where do we think that I-94 corridor will go, the growth of a potential of another large customer, the transmission growth -- all of that is all -- and then we talked about the generation potentially for Point Beach. So all that is upside. A lot of that, as you think about it, is in that 2030, 2031 time frame because it will be adding a year on, and it really takes that long from a supply chain. But we're going to -- we'll evaluate everything on the third quarter call, but feel really good about the tools that are coming in as we move forward and we pull that plan together. So I think it's going to be long for sure, and we'll see where the numbers go in the next years. As you know, we're at the high end of our range right now in that '28 time frame. So we'll see if there's anything more in it as we pull it together. Jeremy Tonet: Got it. That's helpful. And just want to shift gears here towards new nuclear, if we could. And obviously, WEC is looking to make sure that shareholders are protected but the federal government is kind of pushing forward the OE loans program, other initiatives as well to support this as far as at least long lead items. Just wondering, is there a scenario where you think that what could participate here? Or just any thoughts on that in general? Scott Lauber: Sure, sure. And we have been actively working with DOE as it relates to fossil, some of the loans trying to -- potential loans as it relates to some of our gas generation. So that's -- if you hear our name associated with it, it may be related to some of that fossil stuff. As we've said before and more thinking long term, we have a site called [ Kiwani ] that we kept through the Integrys acquisition that we have options for that land there. Longer, longer term, nuclear may be a potential. But I just want to look forward in the short term here. But we do think longer term, nuclear across the country is a potential option. Operator: Your next question comes from the line of Paul Fremont with Ladenburg. Paul Fremont: I guess my first question relates to just understanding the collateral a little bit better with respect to the Oracle contract. Does the collateral essentially track which phase they're going forward with? Did it track to your construction? How should we think about sort of the initial collateral requirement that's required? Scott Lauber: Sure, sure. The collateral -- as you think about the collateral through the payment cancellation agreements or as you get to the VLC tariff, the collateral is really based on the assets and the expenditures that we're putting in, it kind of ramps up over time as more and more construction happens just so we don't have a stranded asset or an issue for our other customers or shareholders. So that kind of ramps up. But remember, when that very large customer tariff goes into service, just like the collateral on the spending, it gets to the depreciable value that they have to support. And we look at that as very protective. And I think we have one of the most protective in the country because, remember, they got to sign up for 20 years for wind and solar and the depreciable life for batteries in gas assets, and they need to come up with that net book value to make sure we have collateral in place. So it's very stringent, but very -- also very credit-supportive. Like I said, all the rating agencies thought it was really good what we filed and now even a higher rating is even stronger. So that's how it kind of ramp up over time. Paul Fremont: So just to clarify that -- if they were to move forward into a Phase 2 that we should assume that, that would require a step-up in the level of collateral. Is that sort of a logical way to look at it? Scott Lauber: Correct. As long as their credit rating would be where it's at. Paul Fremont: Right. And then what if they're downgraded further by Moody's or S&P, how much additional collateral would that involve since they're sort of on the border here between investment grant, subinvestment grant? Scott Lauber: Yes, it's an interesting question. However, we're getting all the collateral we need at this level. So if it goes down, we already have all the collateral we need for the full amount. Liu Xia: Paul, we require in the original filing as well as the PCA that as long as their BBB- or worse, they would need to post collateral. So we kind of already kicked that in before they go any further down. So I think from that protection perspective, all the -- like Scott said, all the rating agencies recognize this, you're not requiring them to kick in collateral when they become junk. So we are actually one layer better protected. So there's no more we would need to protect the entire book value on the books. Paul Fremont: Great. Where does their legal challenge currently stand? I mean, they've just filed it. Should we assume that this will take like years to play out in the courts? Or what would be the sort of a normal expectation? Scott Lauber: So it would take some time, and I don't know how long it would take. It would take a while. However, even what we refiled for in our reconsideration had the requirements that they're needed to post at a BBB-. So I think they're really looking at longer term. So if it takes several months or 6 months or so to get out and maybe ask for reconsideration, it still doesn't change anything at this moment. But I think you're looking at the future. Paul Fremont: And then I think on the first quarter call, you talked about potentially having another announcement by the end of the year. Are you feeling sort of comfortable with that still? Scott Lauber: Yes, we're still having really good discussions with potential other large customers that would fall under the tariff that are probably not as big as the current 2 customers we have, but more in that 400 to 500-megawatt size. So we're having some discussions and I feel good about it, but more to come, hopefully. Paul Fremont: And maybe last question for me. Sort of a lot of turmoil on the Democrat side in terms of running for Governor, with Rodriguez sort of exiting. I guess the most recent polls had the Democrat social sort of ahead, is that who would be sort of the other ones that would be close to [ Hong ] in terms of the primary? Scott Lauber: So there's 5 right now in the primary. You have Hong, you have Mandela Barnes, You have an individual who's a previous Lieutenant Governor. You have Joe Brennan, who was a former State Administrative Secretary, Department of Administration. David Crowley is also the Milwaukee County Exec here in Milwaukee and Kelda Roys. So there's 5 of them out there right now. They just had a debate. So it's kind of interesting because a lot of activity has happened in the last couple of weeks and the primary is August 11. So not much happened until all of sudden we're getting into the last month here of the primary. But there are several out there. Operator: Your next question comes from the line of Paul Patterson with Glenrock Associates. And this is our final question. Paul Patterson: Just to follow up on all this Oracle stuff. I mean if I understand you correctly, you don't expect -- and tell me if I'm wrong, you don't expect this lawsuit and its outcome, assuming, let's say, that Oracle loses as having a significant impact on the project going forward. Is that -- am I boiling it down to its essence there? Or am I misunderstanding it? Scott Lauber: You nailed it. You nailed it. This current project, where we've talked to them several times, the construction is moving extremely well. Things are getting done. So I don't think anything in this particular project is tied to that at all. Paul Patterson: Okay. So that's very helpful. And then just to clean up here, and I apologize if I missed it. But on the waterfall chart on Slide 15, the WECI, the infrastructure, could you just give a little bit more color on the moving parts here? I think I understand the absence of the 2025 impairments. But could you give us a little more flavor about the insurance recovery on '26 and the O&M timing issue and how that might work out going forward? Liu Xia: Sure. Happy to. So as I called out, the impairment, the lack of impairment in the quarter this year and the fact that we received the insurance payment this year. So that accounts for a net of $0.04 out of the 11. We have $0.01 that's PTC, additional PTC. The rest of them are a combination of O&M timing, and there's a little bit of capacity payment from the market. We sold 2, generation was a little bit better. So it's a variety of things added to the remaining $0.06. But I want to understand the big piece of that. Paul Patterson: So when will that come -- will that timing come -- will that be coming back. Liu Xia: Yes. Hopefully, some of the favorability will stay, but we expect in the fourth quarter, some of them will go back. Paul Patterson: Okay. And then just the insurance recovery from the -- as a part of the $0.04 is, how much of that was this quarter's insurance recovery? I apologize for being slow on that. Liu Xia: $0.02, $0.02 was insurance payments. Scott Lauber: All right. Thank you. well, that concludes our conference call for today. Thank you for participating. If you have more questions, feel free to contact Beth Straka at (414) 221-4639. Thank you, everyone. Operator: Ladies and gentlemen, this concludes today's call. Thank you all for joining. You may now disconnect. Before you buy stock in WEC Energy Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and WEC Energy Group wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $397,405!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,344,091!* Now, it’s worth noting Stock Advisor’s total average return is 953% — a market-crushing outperformance compared to 214% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of August 7, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. WEC Energy (WEC) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Interested in WEC Energy Group, Inc.? Here are five stocks we like better. WEC Energy Group reported strong second-quarter results: Earnings rose to $0.91 per diluted share from $0.76 a year earlier, and the company reaffirmed 2026 guidance of $5.51–$5.61 per share. Data-center demand is supporting WEC’s $37.5 billion capital plan. The company expects Microsoft and Vantage developments in Wisconsin to drive substantial electricity demand, while new natural-gas generation projects are scheduled to begin coming online in late 2027. Management maintained its long-term earnings growth target of 7%–8% annually through 2030 and highlighted regulatory progress, planned 2026 equity issuance of about $1.1 billion, and a 23rd consecutive annual dividend increase. 3 Utility Stocks With Strong Dividends and Room to Run Higher WEC Energy Group (NYSE:WEC) reported second-quarter 2026 earnings of $0.91 per diluted share, up $0.15 from the same period a year earlier, and reaffirmed its full-year earnings guidance of $5.51 to $5.61 per share, assuming normal weather for the remainder of the year. President and Chief Executive Officer Scott Lauber said the company’s results reflected continued execution, financial discipline and operating efficiency. Management also maintained its long-term outlook for compound annual earnings-per-share growth of 7% to 8% from 2026 through 2030, based on the midpoint of 2025 adjusted guidance, and expects growth to move toward the upper half of that range beginning in 2028. → Microsoft Just Flipped the AI Spending Narrative Overnight 3 Utility Stocks That Will Benefit from Less Regulation Lauber pointed to continued data-center development in Wisconsin as a foundation for the company’s $37.5 billion five-year capital investment plan. The plan is focused on projects management characterized as low risk and executable, including investments to serve large customers. WEC expects approximately 15% of its asset base to be dedicated to very large customers by the end of 2030. At Microsoft’s Pleasant Prairie site, the first data-center facility is fully operational, Lauber said. Microsoft has acquired more than 2,200 acres in the I-94 corridor south of Milwaukee, where WEC is preparing to serve a forecasted 2.6 gigawatts of demand through 2030, with potential for additional expansion. → 2 Unique Space ETFs That Could Upend the Industry 3 undervalued stocks: Is now the right time to buy? North of Milwaukee, Vantage Data Centers is constructing facilities for Oracle on about 1,900 acres. The initial phase is being built on 670 acres, with Vantage expecting to invest $15 billion to complete that phase in 2028. Structural framework has been completed on multiple buildings, and the first facility could enter service as early as late 2027, according to Lauber. WEC currently forecasts 1.3 gigawatts of demand at the Vantage site over the next five years, with potential demand eventually reaching 3.5 gigawatts. Lauber said the company is also discussing potential projects with other large customers, generally in the range of 400 to 500 megawatts rather than the scale of the Microsoft and Vantage developments. → MarketBeat Week in Review – 07/27- 07/31 Construction is also continuing on natural-gas generation facilities in Paris and Oak Creek, Wisconsin, which WEC expects to begin coming online in late 2027. Looking ahead, Lauber said a future plan could include a combined-cycle generating facility rather than only simple-cycle generation, as the company evaluates the need for both energy and capacity to support customer demand. Chief Financial Officer Xia Liu said utility operations contributed $0.06 more to earnings than in the second quarter of 2025. Weather reduced quarter-over-quarter earnings by approximately $0.05, as weather had an estimated negative $0.03 impact in the 2026 quarter compared with a positive $0.02 effect a year earlier. Rate-base growth added $0.13 per share, including $0.09 from incremental allowance for funds used during construction equity and $0.02 from incremental cash returns associated largely with projects under construction supporting very large customers. Sales growth, taxes and other items added a combined $0.06. Those gains were partly offset by $0.05 from higher depreciation and amortization expense and $0.03 from higher day-to-day operations and maintenance costs. At American Transmission Company, capital investment growth added $0.03 to quarterly earnings versus the prior-year period. Weather-normalized retail electric sales increased 4.2% year over year, driven by very large customers. Excluding the iron ore mine and very large customers, sales rose 1.2%, supported by higher volumes across all customer classes. Despite the quarterly performance, management expects full-year 2026 weather-normalized electric sales, excluding those customers, to be relatively even with 2025. The energy infrastructure segment’s earnings increased $0.11 per share from the prior-year quarter. Liu said the comparison included the absence of a prior-year storm-related asset impairment and an insurance payment received during the current quarter, which together accounted for a net $0.04. The remaining improvement was largely related to operations and maintenance timing, production tax credits, capacity payments and other items. Liu said some of the favorable O&M timing is expected to reverse in the fourth quarter. In May, the Public Service Commission of Wisconsin issued its written order for WEC’s very large customer tariff. Lauber said the tariff requires large customers to pay their full share of costs. The company is working with Oracle to update financial security requirements for the Port Washington project in accordance with commission requirements. Lauber said Oracle remains committed to the project and that construction is continuing on time and on budget. He said the company sees other potential users for the site in a worst-case scenario in which Oracle did not expand, but added that he had no indication such an outcome was expected. WEC’s Wisconsin rate request for forward-looking test years 2027 and 2028 remains pending. Staff and intervener testimony is due in mid-August, with final commission orders expected by year-end and new rates scheduled to take effect in January 2027 and 2028. In Illinois, the Illinois Commerce Commission in May unanimously approved settlements involving the Rider QIP and bad-debt rider, resolving 12 open dockets. WEC also expects a decision by year-end on its Illinois utility rate request for the 2027 test year. Liu said WEC had locked in about $760 million of common equity in the first half, including approximately $40 million under an employee benefit plan and $720 million through forward contracts under its at-the-market program. The company expects to issue about $1.1 billion of common equity during 2026 and said incremental capital beyond the current plan is expected to carry 50% equity content. For the third quarter, WEC expects earnings of $0.92 to $0.98 per share, incorporating July weather and assuming normal weather for the balance of the quarter. The board’s 6.7% dividend increase announced in January marked the company’s 23rd consecutive year of higher dividends, Lauber said. WEC Energy Group is a Milwaukee, Wisconsin–based regulated energy holding company whose primary businesses are the generation, transmission and distribution of electricity and the distribution of natural gas. The company operates through a set of utility subsidiaries that provide bundled energy service, customer billing and energy-related programs to residential, commercial and industrial customers. As a regulated utility group, WEC's operations focus on delivering reliable service while managing infrastructure investment and compliance with state and federal utility regulation. Its utility subsidiaries include well-known regional operators such as We Energies and Wisconsin Public Service, along with Chicago-area natural gas utilities that were part of the Integrys Energy Group acquisition. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "WEC Energy Group Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Earnings Per Share (EPS): Second quarter 2026 earnings of $0.91 per share, up $0.15 from the second quarter of 2025. Earnings Guidance: Reaffirmed 2026 earnings guidance of $5.51 to $5.61 per share, assuming normal weather for the remainder of the year. Third Quarter Guidance: Expecting third quarter 2026 earnings in a range of $0.92 to $0.98 per share. Utility Operations Earnings: $0.06 higher versus the second quarter of 2025. Weather Impact: Weather negatively impacted quarter-over-quarter earnings by approximately $0.05. Rate Base Growth: Contributed $0.13 to earnings, including $0.09 of incremental AFUDC equity and $0.02 of incremental cash returns associated with projects under construction. Sales Growth, Tax, and Other Items: Contributed a total of $0.06 to earnings. Depreciation and Amortization: Higher expense partially offset earnings by $0.05. Day-to-Day O&M: Higher expense partially offset earnings by $0.03. Weather Normal Retail Electric Sales: Total weather normal retail electric sales grew 4.2% in Q2 2026 compared to Q2 2025, driven by growth from Very Large Customers (VLCs). Excluding the iron ore mine and VLC customers, sales grew 1.2%. American Transmission Company (ATC): Significant capital investment growth contributed an incremental $0.03 to Q2 earnings compared to 2025. Energy Infrastructure Segment: Earnings were $0.11 higher in Q2 2026 compared to Q2 2025. Corporate and Other Segments: Earnings decreased $0.03, driven by tax timing and higher interest expense. Common Equity Issuance: Locked in about $760 million in the first half of 2026, with a total expectation of issuing about $1.1 billion of common equity in 2026. Dividend: The Board increased the dividend by 6.7%, marking the 23rd consecutive year of higher dividends, consistent with a plan to grow the dividend at a rate of 6.5% to 7%. Capital Plan: Five-year capital plan includes $37.5 billion of projected investments. Long-term EPS Growth: Projecting long-term earnings per share growth of 7% to 8% a year on a compound annual basis between 2026 and 2030. Warning! GuruFocus has detected 10 Warning Signs with WEC. Is WEC fairly valued? Test your thesis with our free DCF calculator. Release Date: July 29, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Strong economic growth in the region, with Microsoft and Vantage/Oracle data center projects driving significant demand. Reaffirmed 2026 earnings guidance of $5.51 to $5.61 per share, with long-term EPS growth of 7% to 8% annually through 2030. Approval of the Very Large Customer (VLC) tariff ensures data centers pay their full share, protecting other customers. Robust $37.5 billion five-year capital plan focused on low-risk, highly executable projects, with 15% of assets dedicated to large customers by 2030. Dividend increased by 6.7%, marking the 23rd consecutive year of higher dividends, consistent with a 6.5% to 7% growth plan. Weather negatively impacted Q2 2026 earnings by approximately $0.05 per share compared to the prior year. Oracle's credit rating (BBB-) requires collateral posting, with a pending lawsuit over VLC tariff requirements creating uncertainty. Higher depreciation and amortization expense reduced earnings by $0.05 per share in Q2 2026. Labor force challenges in Illinois are slowing the ramp-up of the PIPE program, reducing 2026 spending. Political risks in Wisconsin, including a potential moratorium on data centers from some gubernatorial candidates, could impact future growth. Here are the key highlights from the WEC Energy Group Inc (NYSE:WEC) Q2 2026 earnings call, presented as Q&A summaries. Q: What is the status of the Port Washington project with Oracle, given the recent lawsuit and credit concerns? Is there a risk to the timeline or expansion potential?A: Scott Lauber, President and CEO, stated that the company is actively working with Oracle to provide the required credit support under the new VLC tariff. Construction is continuing on time and on budget, and Oracle remains committed to the project. In a worst-case scenario, the site would have strong potential for redeployment to another hyperscaler, but there is no current indication that will be necessary. Q: How are discussions progressing with potential new very large customers (VLCs) for data centers?A: Scott Lauber, President and CEO, noted that the company continues to have "really good discussions" with potential new VLCs. These potential customers are likely to be in the 400 to 500 megawatt range, smaller than the first two major customers. The approval of the transparent VLC tariff is seen as a positive step forward in these negotiations. Q: What is the status of the Point Beach nuclear plant replacement? Will the company file a generation plan in lieu of the PPAs?A: Scott Lauber, President and CEO, confirmed that the company is finalizing its plans and will provide an update on the third quarter call. He reiterated that the first 500 MW PPA comes due in December 2030, and the next 500 MW in March 2033. While capital is an option, the final decision will be announced in the fall. Q: What is the status of the ATC transmission line to serve the Vantage/Oracle opportunity, and is it in the current capital plan?A: Scott Lauber, President and CEO, confirmed the line is in the current ATC plan and is proceeding through the commission. While there has been some "noise" from updates to the filing, the decision is expected by the end of the year. He also indicated that transmission growth could be an upside opportunity in the upcoming capital plan refresh. Q: How is the company thinking about future generation capacity additions to serve incremental data center load?A: Scott Lauber, President and CEO, explained that current data center customers have signed up for an "all of the above" approach including renewables, batteries, and natural gas. For the next five-year plan, the company may shift from simple-cycle gas to combined-cycle gas to meet the need for more energy, not just capacity. Q: What is the potential for settlements in the Wisconsin and Illinois rate cases?A: Scott Lauber, President and CEO, stated that a settlement in Wisconsin is possible, given the commission's history, but it won't be clear until staff and intervener testimony is filed in mid-August. In Illinois, a settlement is a "lower probability" based on history, despite the recent successful settlement on the rider QIP and bad debt issues. Q: How is the political environment in Wisconsin, with the upcoming gubernatorial election, impacting the company's outlook, particularly regarding potential data center pushback?A: Scott Lauber, President and CEO, acknowledged that one candidate has proposed a moratorium on data centers. He emphasized the need to educate all candidates on the facts, including the economic benefits (jobs, property taxes) and the $100 million in customer savings from data center cost allocations. The company has a history of working with both sides of the aisle. Q: What are the key drivers for upside to the current five-year capital plan?A: Scott Lauber, President and CEO, identified three main drivers: growth in the current data centers (especially the I-94 corridor), the potential for a new large customer, and transmission growth. The Point Beach replacement generation is also a potential upside. Much of this capital would be in the 2030-2031 timeframe. Q: How is the pipe replacement program (PIPE) in Illinois trending, and what is informing the rate proceedings?A: Scott Lauber, President and CEO, noted that the program is going well, but ramping up the labor force has been more challenging than expected in 2026 due to high economic development activity. The company is working on training and bringing in talent, and expects to ramp up in 2027. This has led to a slight reduction in 2026 spending. Q: Can you provide more detail on the Oracle collateral requirements and the impact of their legal challenge?A: Scott Lauber, President and CEO, and Xia Liu, CFO, clarified that the collateral requirement is already triggered at a BBB- rating, which is where Oracle currently sits. Therefore, a further downgrade would not require additional collateral. The legal challenge is expected to take time and is seen as a longer-term issue, not impacting the current project's construction or timeline. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Performance beat was primarily driven by grid-based growth and infrastructure investments, which contributed $0.13 to earnings; this included $0.11 from projects under construction mostly supporting Very Large Customers (VLCs). Management attributes the robust $37.5 billion capital plan to unprecedented demand from hyperscalers, with 15% of the asset base expected to serve large customers by 2030. The Microsoft site in Pleasant Prairie is now partially operational, with WEC preparing to serve a forecasted demand increase of 2.6 gigawatts in that corridor through 2030. Vantage Data Centers' project for Oracle is progressing on schedule, with structural framework complete and an expected 1.3 gigawatts of demand over the next five years. Regional economic strength is further supported by industrial expansions from Rehlko, Waukegan Steel, and Harley Davidson, reinforcing Wisconsin's attractiveness for manufacturing. The newly approved VLC tariff provides a transparent framework that ensures large customers pay their full share of costs, protecting the broader customer base from stranded asset risks. Management expects long-term EPS growth of 7% to 8% through 2030, with an anticipated acceleration to the upper half of that range starting in 2028. The 5-year capital plan will be refreshed in Q3 2026, with potential upside from additional data center demand, transmission projects, and generation for Point Beach replacement. Guidance for 2026 assumes normal weather for the remainder of the year and includes approximately $1.1 billion in common equity issuance to maintain credit strength. New natural gas generation facilities in Paris and Oak Creek are scheduled to begin coming online in late 2027 to meet rising capacity requirements. Future generation strategy for data centers will utilize an 'all of the above' approach, including renewables, batteries, and potentially combined-cycle natural gas for energy needs. Oracle has initiated a legal challenge regarding credit support requirements, though management maintains this does not impact current project construction or timelines. In Illinois, the pipe retirement program is experiencing slower-than-desired ramping due to labor force challenges and high competition for skilled talent. Political uncertainty exists regarding a potential data center moratorium proposed by a gubernatorial candidate., though WEC is actively providing facts on the economic benefits to mitigate this. The VLC tariff requires customers with credit ratings of BBB- or lower to post full collateral for the depreciable value of assets, a measure praised by rating agencies for its protectiveness. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management confirmed the project remains on time and on budget despite the lawsuit, with Oracle continuing to provide required financial support. If the current customer were unable to fulfill obligations, management believes the site remains highly attractive for other hyperscalers. WEC is in active discussions with multiple potential customers for sites in the 400 to 500-megawatt range. Management does not believe the stringent collateral requirements in the VLC tariff are deterring new entrants due to the transparency the framework provides. While focusing on gas and renewables in the short term, management views nuclear as a potential long-term option for the country. WEC retains the Kewaunee site land, providing a strategic option for future nuclear development if the technology and regulatory environment align. Any capital beyond the current plan is expected to be funded with 50% equity content, primarily utilizing the ATM program. Management is exploring 'cash returns' on projects as an alternative to AFUDC to accelerate cash accumulation and improve funding efficiency.

WEC Energy Group reported higher second-quarter earnings on Tuesday and reaffirmed its full-year earnings guidance, citing operating efficiency, financial discipline and continued execution of its capital investment program despite broadly flat electricity demand. The Milwaukee-based utility posted second-quarter net income attributable to common shareholders of $299.2 million, or $0.91 per diluted share, up from $245.4 million, or $0.76 per share, a year earlier. For the first six months of 2026, net income rose to $1.10 billion, or $3.36 per diluted share, from $969.6 million, or $3.02 per share, in the prior-year period. Consolidated revenue for the first half increased to $5.50 billion, up from $5.16 billion a year earlier. Chairman, President and CEO Scott Lauber attributed the results to customer service, financial discipline, operating efficiency and continued progress on the company's capital plan. Retail electricity deliveries, excluding an iron ore mine in Michigan's Upper Peninsula and Wisconsin's Very Large Customers program, were essentially unchanged from a year ago. Small commercial and industrial sales slipped 0.2%, residential consumption declined 1.1%, while electricity use by large commercial and industrial customers increased 0.9%. On a weather-normalized basis, retail electricity deliveries increased 1.2% during the quarter. WEC reaffirmed its 2026 earnings guidance of $5.51 to $5.61 per share, assuming normal weather conditions for the remainder of the year. The results come as regulated U.S. electric and gas utilities continue investing heavily in grid modernization, renewable generation and infrastructure upgrades while positioning to serve rising electricity demand from large industrial users and data centers. WEC has previously identified data centers among the large-scale customers expected to drive future capital investments in its service territory. By Charles Kennedy for Oilprice.com More Top Reads From Oilprice.com Houthis Claim Attack on Saudi Oil Tanker in Red Sea Oil Jumps 7% As Trump Threatens Iran Hours Before Fed Decision Indian Oil Eyes Stakes In Gas Carriers To Cut U.S. LPG Freight Costs Oilprice Intelligence brings you the signals before they become front-page news. This is the same expert analysis read by veteran traders and political advisors. Get it free, twice a week, and you'll always know why the market is moving before everyone else. You get the geopolitical intelligence, the hidden inventory data, and the market whispers that move billions - and we'll send you $389 in premium energy intelligence, on us, just for subscribing. Join 400,000+ readers today. Get access immediately by clicking here.

WEC Energy Group WEC reported second-quarter 2026 earnings of 91 cents per share, which surpassed the Zacks Consensus Estimate of 80 cents by 13.75%. The bottom line also increased 19.74% from the year-ago quarter’s 76 cents, aided by rate base growth and stronger energy infrastructure results. Operating revenues of $2.06 billion missed the Zacks Consensus Estimate of $2.11 billion by around 2.27%. The top line also increased 2.62% from $2.01 billion recorded in the year-ago quarter. WEC Energy Group, Inc. price-consensus-eps-surprise-chart | WEC Energy Group, Inc. Quote Retail electricity deliveries, excluding the iron ore mine and Very Large Customers, were essentially flat on a reported basis. Small commercial and industrial use declined 0.2%, while large commercial and industrial consumption increased 0.9%. Residential use fell 1.1%.On a weather-normal basis, retail electricity deliveries, excluding the iron ore mine and Very Large Customers, increased 1.2% during second-quarter 2026. Management said volumes grew across all customer classes and came in slightly ahead of its forecast, though it still expects full-year 2026 weather-normalized sales on this basis to be relatively even with 2025. Total electric sales volume for the second quarter was 10,150 thousand megawatt-hours, down 4.7% year over year. Total operating expenses increased 1.5% year over year to $1.63 billion, primarily reflecting a 3.5% rise in other operation and maintenance expenses to $617.1 million and a 4.3% increase in depreciation and amortization to $384.9 million.Operating income totaled $432.8 million, up 6.9% from $404.9 million recorded in the year-ago quarter.Equity earnings from transmission affiliates increased 20.6% to $62.6 million, while other income more than doubled to $61.5 million. The company incurred interest expense of $228.9 million, up 3.7% from the prior-year level of $220.8 million. As of June 30, 2026, WEC had cash and cash equivalents of $50 million compared with $27.6 million as of Dec. 31, 2025.As of June 30, 2026, long-term debt increased to $19.22 billion from $18.50 billion as of Dec. 31, 2025, while total assets rose to $52.75 billion from $51.52 billion over the same period.Net cash provided by operating activities increased 9.7% year over year to $2.21 billion in the first six months of 2026. For the six months ended June 30, 2026, capital expenditures rose 35.9% year over year to $2.08 billion. WEC also expects to issue about $1.1 billion of common equity during 2026. WEC Energy reaffirmed its 2026 earnings guidance of $5.51-$5.61 per share, assuming normal weather conditions for the remainder of the year. For the third quarter, management expects earnings of 92-98 cents per share. The company reaffirmed its long-term annual earnings growth target of 7-8% through 2030 and expects growth to trend toward the upper half of that range beginning in 2028.WEC's five-year capital plan calls for $37.5 billion of investment through 2030. The program includes $20.3 billion for electric generation, $7.1 billion for gas distribution, $4.7 billion for electric distribution, $4.1 billion for transmission and $1.3 billion for Wisconsin liquefied natural gas capacity.Data center demand remains central to the outlook. WEC forecasts 2.6 gigawatts of demand from Microsoft's regional development through 2030 and 1.3 gigawatts from the Vantage Data Centers over the next five years. The company currently has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Duke Energy DUK is scheduled to report second-quarter results on Aug. 4, before the market opens. The Zacks Consensus Estimate for earnings is pegged at $1.29 per share, which suggests a year-over-year increase of 3.20%.DUK’s long-term (three to five years) earnings growth rate is 6.76%. The Zacks Consensus Estimate for 2026 earnings is pinned at $6.72 per share, which implies a year-over-year improvement of 6.50%.Consolidated Edison ED is slated to report second-quarter results on Aug. 6, after market close. The Zacks Consensus Estimate for earnings is pegged at 74 cents per share, which implies a year-over-year increase of 10.45%.ED’s long-term earnings growth rate is 6.32%. The Zacks Consensus Estimate for 2026 earnings is pinned at $6.09 per share, which implies a year-over-year improvement of 6.84%.PPL Corporation PPL is scheduled to report second-quarter results on Aug. 7, before the market opens. The Zacks Consensus Estimate for earnings is pegged at 35 cents per share, which implies a year-over-year growth of 9.38%.PPL’s long-term earnings growth rate is 7.52%. The Zacks Consensus Estimate for 2026 earnings is pinned at $1.94 per share, which implies a year-over-year improvement of 7.18%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report WEC Energy Group, Inc. (WEC) : Free Stock Analysis Report PPL Corporation (PPL) : Free Stock Analysis Report Duke Energy Corporation (DUK) : Free Stock Analysis Report Consolidated Edison Inc (ED) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Xcel Energy Inc. XEL reported second-quarter 2026 ongoing earnings of 93 cents per share, beating the Zacks Consensus Estimate of 79 cents by 17.72%. Earnings increased 24% from 75 cents in the year-ago quarter, aided by greater recovery of electric infrastructure investments.Earnings benefited from lower electric fuel and purchased-power costs, which contributed 30 cents per share to the year-over-year change. Higher allowance for funds used during construction, or AFUDC, added 8 cents, while lower depreciation and amortization contributed another 8 cents.These gains were partly offset by a 12-cent drag from higher interest charges, a 6-cent impact from common-equity financing and a 4-cent reduction from lower natural gas revenues. Revenues of $3.12 billion missed the consensus estimate of $3.61 billion by 13.48% and declined 5.1% year over year. Weather-adjusted retail electric sales rose 1.5%, while electric and natural gas customer counts each increased 0.7%.Electric revenues declined 4.8% year over year to $2.74 billion. The decrease reflected lower fuel-cost recovery, production tax credits passed back to customers, weaker wholesale generation revenues and regulatory rate outcomes. These factors were partly offset by higher non-fuel rider revenues, sales and demand, and wholesale transmission revenues.Natural gas revenues fell 7.8% to $365 million, primarily because of lower gas-cost recovery and reduced sales volumes. Other revenues increased to $14 million from $13 million. Electric and natural gas cost fluctuations are generally offset through regulatory recovery mechanisms and have limited impact on earnings. Xcel Energy Inc. price-consensus-eps-surprise-chart | Xcel Energy Inc. Quote Total operating expenses declined 11% year over year to $2.41 billion. Electric fuel and purchased-power expenses fell $240 million to $678 million, while the cost of natural gas sold and transported decreased $41 million to $93 million.Operating and maintenance expenses increased $16 million to $691 million, partly due to higher generation costs. Operating income advanced 22.4% year over year to $706 million.Interest charges and financing costs increased 23.6% to $398 million, primarily due to higher debt levels. Xcel Energy reaffirmed its 2026 ongoing earnings guidance of $4.04-$4.16 per share. The outlook assumes weather-adjusted retail electric sales growth of approximately 3% and weather-adjusted firm natural gas sales growth of around 1%. The Zacks Consensus Estimate for 2026 is currently pegged at $4.11 per share.Management expects capital-rider revenues to increase $480-$490 million, while operating and maintenance expenses are projected to rise about 3%. The company anticipates interest expense, net of debt AFUDC, to increase $240-$250 million, partly offset by a $150-$160 million increase in equity AFUDC. XEL outlined more than $70 billion of potential capital investment during 2026-2030, comprising a $60 billion base plan and over $10 billion of additional opportunities. The program includes roughly 11,400 megawatts (“MW”) of renewable generation, 3,400 MW of natural gas generation and 2,200 MW of energy storage.The company has about 2 gigawatts (“GW”) of data-center capacity contracted or under construction and expects contracted capacity to reach roughly 4 GW by the end of 2027. Its broader pipeline exceeds 20 GW, providing potential support for future generation and transmission investment. Xcel Energy currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. NextEra Energy NEE reported second-quarter 2026 results with adjusted earnings per share of $1.15, up 9.5% from $1.05 a year ago. The figure beat the Zacks Consensus Estimate of $1.09 by 5.5%.The Zacks Consensus Estimate for 2026 and 2027 earnings per share indicates year-over-year growth of 8.36% and 8.73%, respectively.FirstEnergy FE reported second-quarter 2026 adjusted earnings of 50 cents per share, which beat the Zacks Consensus Estimate of 49 cents by 2.04%. In the year-ago quarter, the company reported earnings of 52 cents per share. The Zacks Consensus Estimate for 2026 and 2027 earnings per share implies year-over-year growth of 7.06% and 7.78%, respectively.WEC Energy Group WEC reported second-quarter 2026 earnings of 91 cents per share, which surpassed the Zacks Consensus Estimate of 80 cents by 13.75%. The bottom line also increased 19.74% from the year-ago quarter’s 76 cents.The Zacks Consensus Estimate for 2026 and 2027 earnings per share indicates year-over-year growth of 6.07% and 7.44%, respectively. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Xcel Energy Inc. (XEL) : Free Stock Analysis Report NextEra Energy, Inc. (NEE) : Free Stock Analysis Report FirstEnergy Corporation (FE) : Free Stock Analysis Report WEC Energy Group, Inc. (WEC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

WEC Energy Group (WEC) came out with quarterly earnings of $0.91 per share, beating the Zacks Consensus Estimate of $0.8 per share. This compares to earnings of $0.76 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +13.75%. A quarter ago, it was expected that this electricity and natural gas provider would post earnings of $2.33 per share when it actually produced earnings of $2.45, delivering a surprise of +5.15%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. WEC Energy, which belongs to the Zacks Utility - Electric Power industry, posted revenues of $2.06 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 2.26%. This compares to year-ago revenues of $2.01 billion. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. WEC Energy shares have added about 7.7% since the beginning of the year versus the S&P 500's gain of 8.5%. While WEC Energy has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for WEC Energy was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.91 on $2.23 billion in revenues for the coming quarter and $5.59 on $10.49 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Utility - Electric Power is currently in the bottom 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Edison International (EIX), is yet to report results for the quarter ended June 2026. The results are expected to be released on July 30. This electric power provider is expected to post quarterly earnings of $1.02 per share in its upcoming report, which represents a year-over-year change of +5.2%. The consensus EPS estimate for the quarter has been revised 8.1% lower over the last 30 days to the current level. Edison International's revenues are expected to be $4.72 billion, up 3.9% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report WEC Energy Group, Inc. (WEC) : Free Stock Analysis Report Edison International (EIX) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

MILWAUKEE, July 29, 2026 /PRNewswire/ -- WEC Energy Group (NYSE: WEC) today reported net income of $299.2 million, or 91 cents per share, for the second quarter of 2026 — up from $245.4 million, or 76 cents per share, for last year's second quarter. For the first six months of 2026, the company recorded net income of $1.1 billion, or $3.36 per share — up from $969.6 million, or $3.02 per share, in the corresponding period a year ago. Consolidated revenues totaled $5.5 billion, up $337.3 million from the first half of 2025. "Our focus on customer service, financial discipline and operating efficiency — while continuing to execute on our capital plan — helped deliver a strong quarter," said Scott Lauber, chairman, president and CEO. Retail deliveries of electricity — excluding the iron ore mine in Michigan's Upper Peninsula and Very Large Customers (VLCs) in Wisconsin — were essentially flat in the second quarter of 2026, compared to the second quarter last year. Electricity consumption by small commercial and industrial customers was 0.2 percent lower. Electricity use by large commercial and industrial customers — excluding the iron ore mine and VLCs — increased by 0.9 percent. Residential electricity use decreased by 1.1 percent. On a weather-normal basis, retail deliveries of electricity during the second quarter of this year — excluding the iron ore mine and VLCs — increased by 1.2 percent. The company is reaffirming its 2026 earnings guidance of $5.51 to $5.61 per share. This assumes normal weather for the remainder of the year. Earnings per share listed in this news release are on a fully diluted basis. Conference call A conference call is scheduled for 1 p.m. Central time, Wednesday, July 29. The call will review 2026 second-quarter earnings and the company's outlook for the future. All interested parties, including stockholders, news media and the general public, are invited to listen. Access the call at 888-330-2443 up to 15 minutes before it begins. The number for international callers is 240-789-2728. The conference ID is 3088105. Conference call access also is available at wecenergygroup.com. Under 'Webcasts,' select 'Q2 Earnings.' In conjunction with this earnings announcement, WEC Energy Group will post on its website a package of detailed financial information on its second-quarter performance. The materials will be available at 6:30 a.m. Central time, Wednesday, July 29. Replay A replay will be available on the website and by phone. Access to the webcast replay will be available on the website about two hours after the call. Access to a phone replay also will be available approximately two hours after the call and remain accessible through Aug. 12, 2026. Domestic callers should dial 800-770-2030. International callers should dial 647-362-9199. The replay conference ID is 3088105. WEC Energy Group (NYSE: WEC), based in Milwaukee, is one of the nation's premier energy companies, serving 4.8 million customers in Wisconsin, Illinois, Michigan and Minnesota. The company's principal utilities are We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy Resources. Another major subsidiary, We Power, designs, builds and owns electric generating plants. In addition, WEC Infrastructure LLC owns a fleet of renewable generation facilities in states ranging from South Dakota to Texas. WEC Energy Group (wecenergygroup.com) is a Fortune 500 company and a component of the S&P 500. The company has approximately 31,000 stockholders of record, 7,000 employees and more than $52 billion of assets. Forward-looking statements Certain statements contained in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based upon management's current expectations and are subject to risks and uncertainties that could cause our actual results to differ materially from those contemplated in the statements. Readers are cautioned not to place undue reliance on these statements. Forward-looking statements include, among other things, statements concerning management's expectations and projections regarding earnings, earnings growth rates, dividend payments and future results. In some cases, forward-looking statements may be identified by reference to a future period or periods or by the use of forward-looking terminology such as "anticipates," "believes," "estimates," "expects," "forecasts," "guidance," "intends," "may," "objectives," "plans," "possible," "potential," "projects," "should," "targets," "will" or similar terms or variations of these terms. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements include, but are not limited to: general economic conditions, including business and competitive conditions in the company's service territories; timing, resolution and impact of rate cases and other regulatory decisions, including rider reconciliations; the company's ability to continue to successfully integrate the operations of its subsidiaries; availability of the company's generating facilities and/or distribution systems; unanticipated changes in fuel and purchased power costs; key personnel changes; unusual, varying or severe weather conditions; continued industry restructuring and consolidation; continued advances in, and adoption of, new technologies that produce power or reduce power consumption; energy and environmental conservation efforts; electrification initiatives, mandates and other efforts to reduce the use of natural gas; the company's ability to successfully acquire and/or dispose of assets and projects and to execute on its capital plan, including projects related to serving data centers and other large-scale customers; terrorist, physical or cyber-security threats or attacks and data security breaches; construction risks; labor disruptions; equity and bond market fluctuations; changes in the company's and its subsidiaries' ability to access the capital markets; changes in tax legislation or our ability to use certain tax benefits and carryforwards; changes in and uncertainty around federal, state, and local legislation and regulation, including changes in rate-setting policies or procedures and environmental standards, in the enforcement of these laws and regulations and in the interpretation of regulations or permit conditions by regulatory agencies; supply chain disruptions; inflation; political or geopolitical developments impacting the global economy, supply chain and fuel prices generally, including as a result of changes to government trade policies, geopolitical tensions between the U.S. and other countries, such as the war with Iran, or other new, protracted or escalating regional or international conflicts; the impact from any health crises, including epidemics and pandemics; current and future litigation and regulatory investigations, proceedings or inquiries; the ability of the Company to successfully and/or timely adopt new technologies, including artificial intelligence; changes in accounting standards; the financial performance of the American Transmission Company as well as projects in which the company's energy infrastructure business invests; the ability of the company to obtain additional generating capacity at competitive prices; goodwill and its possible impairment; and other factors described under the heading "Factors Affecting Results, Liquidity and Capital Resources" in Management's Discussion and Analysis of Financial Condition and Results of Operations and under the headings "Cautionary Statement Regarding Forward-Looking Information" and "Risk Factors" contained in the company's Form 10-K for the year ended Dec. 31, 2025, and in subsequent reports filed with the Securities and Exchange Commission. Except as may be required by law, the company expressly disclaims any obligation to publicly update or revise any forward-looking information. Tables follow View original content:https://www.prnewswire.com/news-releases/wec-energy-group-reports-second-quarter-results-302836953.html