# WEC Energy Group (WEC) Q2 2025 Financial Results Summary
WEC Energy Group (NYSE: WEC) released its second-quarter financial results on July 30, 2025. The report shows a notable increase in net income, revenues, and other financial metrics compared to the same quarter last year.
### Key Financial Highlights for Q2 2025
– **Net Income**:
– **Q2 2025**: $245.4 million, or $0.76 per share
– **Q2 2024**: $211.3 million, or $0.67 per share
– **Change**: Up **16.1%** in net income and up **13.4%** in earnings per share from the same quarter a year ago.
– **Year-to-Date Net Income**:
– **First Half of 2025**: $969.6 million, or $3.02 per share
– **First Half of 2024**: $833.6 million, or $2.64 per share
– **Change**: Up **16.3%** in net income and up **14.4%** in earnings per share.
– **Consolidated Revenues**:
– **Q2 2025**: $2.009 billion
– **Q2 2024**: $1.772 billion
– **Change**: Increase of **13.4%**.
– **Operating Income**:
– **Q2 2025**: $404.9 million
– **Q2 2024**: $364.8 million
– **Change**: Up **11.0%**.
– **Operating Expenses**:
– Increased from $1.407 billion in Q2 2024 to $1.605 billion in Q2 2025
– **Change**: Increased by **14.0%**.
– **Retail Deliveries of Electricity**:
– Overall increase of **1.0%** compared to the same quarter last year.
– Small commercial and industrial customer usage increased by **0.6%**.
– Large commercial and industrial customer usage increased by **0.8%**.
– Residential electricity use rose by **1.6%**.
– **Weather-Normalized Deliveries**:
– Retail deliveries of electricity increased by **1.1%** under normal weather conditions.
### Dividend Declaration
– **Quarterly Dividend**:
– The company declared a dividend of **$0.8925 per share** for Q2 2025, up from **$0.8350 per share** in Q2 2024.
– **Change**: This reflects a growth of **6.8%** year-over-year.
### Summary of Cash Flow (First Half of 2025)
– **Net Cash Provided by Operating Activities**:
– **$2.016 billion**, compared to **$1.901 billion** for the same period last year.
– **Change**: Up **6.0%**.
– **Net Cash Used in Investing Activities**:
– **$1.973 billion** compared to **$1.251 billion** in the previous year.
– **Change**: Increased by **57.7%**.
– **Net Cash Used in Financing Activities**:
– **$16.1 million**, a decrease in cash used compared to **$512.5 million** for the same period last year.
– **Change**: Less cash used this year.
### Operational Overview
– **Capital Plan Execution**: A warm start to summer and effective capital expenditure planning contributed to the strong quarterly performance.
– **Earnings Guidance**: The company reaffirmed its earnings guidance for 2025, projecting earnings of **$5.17 to $5.27 per share**, assuming normal weather conditions for the remainder of the year.
### Conclusion
Overall, WEC Energy Group exhibited significant growth in its Q2 2025 financial performance relative to Q2 2024, driven by increased net income, revenues, and operating efficiency. The dividend growth also reflects the company’s commitment to shareholder returns amid a positive financial outlook.
Here are the extracted tables from the press release:
### CONDENSED CONSOLIDATED INCOME STATEMENTS
*(in millions, except per share amounts)*
| June 30 2025 | June 30 2024 | June 30 2025 | June 30 2024 | |
|---|---|---|---|---|
| Operating revenues | $ 2,009.5 | $ 1,772.0 | $ 5,159.0 | $ 4,452.2 |
| Operating expenses | ||||
| Cost of sales | 570.5 | 469.7 | 1,736.2 | 1,396.8 |
| Other operation and maintenance | 596.2 | 533.4 | 1,204.2 | 1,064.2 |
| Depreciation and amortization | 368.9 | 336.6 | 728.8 | 670.0 |
| Property and revenue taxes | 69.0 | 67.5 | 147.4 | 143.0 |
| Total operating expenses | 1,604.6 | 1,407.2 | 3,816.6 | 3,274.0 |
| Operating income | 404.9 | 364.8 | 1,342.4 | 1,178.2 |
| Equity in earnings of transmission affiliates | 51.9 | 46.8 | 105.5 | 91.6 |
| Other income, net | 26.5 | 40.6 | 44.6 | 84.7 |
| Interest expense | 220.8 | 200.6 | 443.8 | 392.6 |
| Other expense | -142.4 | -113.2 | -293.7 | -216.3 |
| Income before income taxes | 262.5 | 251.6 | 1,048.7 | 961.9 |
| Income tax expense | 19.5 | 41.6 | 80.2 | 129.3 |
| Net income | 243.0 | 210.0 | 968.5 | 832.6 |
| Preferred stock dividends of subsidiary | 0.3 | 0.3 | 0.6 | 0.6 |
| Net loss attributed to noncontrolling interests | 2.7 | 1.6 | 1.7 | 1.6 |
| Net income attributed to common shareholders | $ 245.4 | $ 211.3 | $ 969.6 | $ 833.6 |
| Earnings per share | ||||
| Basic | $ 0.77 | $ 0.67 | $ 3.04 | $ 2.64 |
| Diluted | $ 0.76 | $ 0.67 | $ 3.02 | $ 2.64 |
| Weighted average common shares outstanding | ||||
| Basic | 320.3 | 315.9 | 319.3 | 315.8 |
| Diluted | 322.2 | 316.2 | 320.7 | 316.1 |
| Dividends per share of common stock | $ 0.8925 | $ 0.8350 | $ 1.7850 | $ 1.6700 |
—
### CONDENSED CONSOLIDATED BALANCE SHEETS
*(in millions, except share and per share amounts)*
| June 30, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 23.0 | $ 9.8 |
| Accounts receivable and unbilled revenues, net of reserves of $142.2 and $162.8, respectively | 1,496.4 | 1,669.3 |
| Materials, supplies, and inventories | 703.0 | 813.2 |
| Prepaid taxes | 209.0 | 214.9 |
| Other prepayments | 51.4 | 82.6 |
| Other | 116.3 | 121.9 |
| Current assets | 2,599.1 | 2,911.7 |
| Long-term assets | ||
| Property, plant, and equipment, net of accumulated depreciation and amortization of $12,025.9 and $11,611.9, respectively | 36,060.8 | 34,645.4 |
| Regulatory assets (June 30, 2025 and December 31, 2024 include $72.2 and $76.5, respectively, related to WEPCo Environmental Trust Finance I, LLC) | 3,231.8 | 3,339.7 |
| Equity investment in transmission affiliates | 2,200.1 | 2,108.9 |
| Goodwill | 3,052.8 | 3,052.8 |
| Pension and OPEB assets | 1,000.4 | 968.5 |
| Other | 379.3 | 336.2 |
| Long-term assets | 45,925.2 | 44,451.5 |
| Total assets | $ 48,524.3 | $ 47,363.2 |
| Liabilities and Equity | ||
| Current liabilities | ||
| Short-term debt | $ 810.3 | $ 1,116.6 |
| Current portion of long-term debt (June 30, 2025 and December 31, 2024 include $9.2, related to WEPCo Environmental Trust Finance I, LLC) | 2,250.4 | 1,729.0 |
| Accounts payable | 816.5 | 1,137.1 |
| Other | 820.4 | 859.2 |
| Current liabilities | 4,697.6 | 4,841.9 |
| Long-term liabilities | ||
| Long-term debt (June 30, 2025 and December 31, 2024 include $71.9 and $76.4, respectively, related to WEPCo Environmental Trust Finance I, LLC) | 17,110.4 | 17,178.1 |
| Finance lease obligations | 361.8 | 303.3 |
| Deferred income taxes | 5,739.5 | 5,514.7 |
| Deferred revenue, net | 323.9 | 334.6 |
| Regulatory liabilities | 4,039.0 | 3,958.0 |
| Intangible liabilities | 609.7 | 566.8 |
| Environmental remediation liabilities | 438.9 | 445.8 |
| Asset retirement obligations | 616.4 | 580.0 |
| Other | 917.0 | 838.1 |
| Long-term liabilities | 30,156.6 | 29,719.4 |
| Commitments and contingencies | ||
| Common shareholders’ equity | ||
| Common stock – $0.01 par value; 650,000,000 shares authorized; 321,866,395 and 317,680,855 shares outstanding, respectively | 3.2 | 3.2 |
| Additional paid in capital | 4,743.1 | 4,315.8 |
| Retained earnings | 8,484.7 | 8,083.8 |
| Accumulated other comprehensive loss | -7.9 | -7.8 |
| Common shareholders’ equity | 13,223.1 | 12,395.0 |
| Preferred stock of subsidiary | 30.4 | 30.4 |
| Noncontrolling interests | 416.6 | 376.5 |
| Total liabilities and equity | $ 48,524.3 | $ 47,363.2 |
