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Wec Energy Group 8-K Report, Financial Results (Jan 5, 2026)

Reports
Earnings & Results·Regulation FD·Other Events+1
Filing Date
Filed January 5, 2026
Period End
January 5, 2026
Security
WEC
In the record · 2016–202610-K1110-Q338-K260

WEC filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 260 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Dec ’22Dec ’22
  2. Leadership change8-K · Jan ’25Jan ’25

01—Abstract

Summary

Summary of the 8-K filed January 5, 2026. Cited figures are marked; the original filing is the authoritative source.

WEC Energy Group, Inc. (WEC) disclosed in its January 5, 2026 Form 8-K that 2025 results are expected to reflect a $150 milliona charge related to an increase in reserves.

The charge stems from additional analysis of recent Illinois Commerce Commission (ICC) orders, disallowance recommendations by interveners on unresolved Qualifying Infrastructure Plant (QIP) and Uncollectible Expense Adjustment (UEA) expense reconciliation dockets, and related testimony and data requests. The company states the charge equals $0.34b per share, lowering 2025 GAAP earnings guidance to $4.83 to $4.93 per share. Excluding the charge, adjusted (non-GAAP) 2025 guidance is unchanged at $5.17 to $5.27 per share, with management expecting to reach the upper end of that range.

The filing also reports that Peoples Gas Light and Coke Company and North Shore Gas Company, Illinois utility subsidiaries, filed requests with the ICC on January 5, 2026 to establish new rates effective in 2027. According to the presentation slides incorporated by reference, Peoples Gas seeks a proposed base rate increase of $202.2 millionc and North Shore Gas seeks $14.4 million, with a proposed 10.10% ROE and 54.0% equity ratio for both. A decision is expected in Q4 2026.

WEC plans to report full 2025 results on its year-end earnings call scheduled for February 5, 2026. The Regulation FD exhibit (Exhibit 99.1) is an investor update presentation with updated 2026 guidance of $5.51 to $5.61d per share, a 2026-2030 capital plan of $36.5 billion (up $8.5 billion from the prior plan), and long-term EPS growth expectations of 7.0% to 8.0%.

02—Key points

Key Highlights

  1. 2025 GAAP EPS guidance lowered to $4.83 to $4.93 due to a $150 million reserve increase, equal to a $0.34 per share charge.
  2. Adjusted 2025 EPS guidance unchanged at $5.17 to $5.27, with management expecting the upper end of the range.
  3. Charge tied to ICC orders, interveners' disallowance recommendations, and unresolved QIP and UEA expense reconciliation dockets.
  4. Peoples Gas and North Shore Gas filed Illinois rate cases on January 5, 2026 for new rates effective January 1, 2027; proposed base rate increases of $202.2 million and $14.4 million, respectively.
  5. Presentation shows a 2026-2030 capital plan of $36.5 billion, an increase of $8.5 billion from the prior five-year plan.
  6. Board plans to raise the quarterly dividend to 95.25 cents per share (annual rate of $3.81), a 6.7% increase, with 2026 EPS guidance midpoint of $5.56.
  7. Year-end 2025 earnings call scheduled for February 5, 2026.

03—Questions

Frequently Asked Questions

  1. Why is WEC recording a $150 million charge for 2025?

    The filing states the charge reflects an increase in reserves based on additional analysis of recent ICC orders, disallowance recommendations by interveners on unresolved QIP and UEA expense reconciliation dockets, testimony, data requests, and other information.

  2. How does the charge affect WEC's 2025 earnings guidance?

    GAAP EPS guidance for 2025 is now $4.83 to $4.93 per share. Excluding the $0.34 per share charge, adjusted EPS guidance remains $5.17 to $5.27, with the company expecting to reach the upper end of that range. The company states the reserve increase is not indicative of ongoing operating performance.

  3. What rate increases did the Illinois gas utilities request?

    Peoples Gas Light and Coke Company and North Shore Gas Company filed requests with the ICC on January 5, 2026 for new rates effective January 1, 2027. The presentation shows proposed base rate increases of $202.2 million for Peoples Gas and $14.4 million for North Shore Gas, both with a proposed 10.10% ROE and 54.0% equity ratio. A decision is expected in Q4 2026, and the presentation estimates a $10 to $11 monthly impact for a typical Peoples Gas residential customer if approved.

  4. When will WEC report its full 2025 results?

    WEC plans to provide 2025 results during its year-end earnings call, currently scheduled for February 5, 2026.

  5. What is the outlook for dividends and long-term growth?

    The board announced plans to raise the quarterly dividend to 95.25 cents per share for Q1 2026, an annual rate of $3.81 per share and a 6.7% increase. The presentation states an expected dividend growth rate of 6.5% to 7% and a long-term EPS growth target of 7.0% to 8.0%.

04—Continue

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