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

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed February 5, 2026
Period End
February 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 February 5, 2026. Cited figures are marked; the original filing is the authoritative source.

WEC Energy Group, Inc. filed an 8-K on February 5, 2026, furnishing a press release (Exhibit 99.1) reporting results for the quarter and year ended December 31, 2025.

For full-year 2025, net income attributed to common shareholders was $1.56 billiona, or $4.81 per diluted share, compared with $1.53 billion, or $4.83 per share, in 2024. Results include a charge of 46 cents per share tied to a proposed settlement with the Illinois Attorney General resolving open proceedings over the Qualifying Infrastructure Plant (QIP) and Uncollectible Expense Adjustment (UEA) riders. Excluding that charge, adjusted full-year 2025 EPS was $5.27, up 8.0 percent from $4.88 in 2024.

Fourth-quarter 2025 GAAP EPS was 97 cents, versus $1.43b a year earlier, and adjusted EPS was $1.42. Consolidated operating revenues for 2025 were $9.8 billion, up $1.2 billion from 2024. The income statement also shows a $130.0 million impairment related to the Illinois segment in both the fourth quarter and full year 2025.

Capital expenditures rose to $4.40 billionc in 2025 from $2.78 billion in 2024, and the company completed the acquisition of Hardin Solar Energy III LLC for $406.1 million net of cash acquired. Long-term debt increased to $18.50 billion, and short-term debt rose to $1.92 billion.

Management reaffirmed 2026 calendar-year EPS guidance of $5.51 to $5.61d and a long-term EPS growth projection of 7 to 8 percent on a compound annual basis over the next five years. The board declared a quarterly dividend of 95.25 cents per share, a 6.7 percent increase, marking the 23rd consecutive year of higher dividends.

02—Key points

Key Highlights

  1. Full-year 2025 GAAP EPS was $4.81 diluted, down from $4.83 in 2024, reflecting a 46-cent-per-share charge tied to the Illinois Attorney General settlement on the QIP and UEA riders.
  2. Adjusted full-year 2025 EPS rose to $5.27, an increase of 8.0 percent over 2024 adjusted EPS of $4.88.
  3. Fourth-quarter 2025 GAAP EPS was $0.97 versus $1.43 in Q4 2024; adjusted Q4 2025 EPS was $1.42.
  4. Consolidated 2025 operating revenues were $9.8 billion, up $1.2 billion from 2024.
  5. 2026 calendar-year EPS guidance of $5.51 to $5.61 was reaffirmed, with long-term EPS growth projected at 7 to 8 percent compound annually over five years.
  6. The board declared a quarterly dividend of 95.25 cents per share, up 6.7 percent, the 23rd consecutive annual increase.
  7. Capital expenditures reached $4.40 billion in 2025 versus $2.78 billion in 2024, and a $130.0 million Illinois segment impairment was recorded.

03—Questions

Frequently Asked Questions

  1. What caused the difference between GAAP and adjusted earnings in 2025?

    The company recorded a pre-tax loss of $205.0 million related to the proposed settlement with the Illinois Attorney General on the QIP and UEA riders, or 46 cents per share after tax. Adjusted EPS excludes this charge; in 2024, adjusted EPS excluded a 6-cent-per-share charge for capital expenditures disallowed by the Illinois Commerce Commission.

  2. What is WEC Energy Group's earnings outlook for 2026?

    The company reaffirmed calendar-year 2026 EPS guidance of $5.51 to $5.61 per share, which it said is consistent with its short-term projected EPS growth guidance. Its long-term EPS growth projection over the next five years is 7 to 8 percent on a compound annual basis.

  3. How did electricity and natural gas demand trend in 2025?

    Retail electricity deliveries, excluding the Michigan iron ore mine, increased 2.2 percent, and 1.1 percent on a weather-normal basis. Residential electricity use rose 3.5 percent. Natural gas deliveries in Wisconsin, excluding gas used for power generation, were 11.5 percent higher, but were 0.5 percent lower on a weather-normal basis.

  4. What is the dividend policy announced in this filing?

    On January 22, the board declared a quarterly cash dividend of 95.25 cents per share, a 6.7 percent increase over the previous rate. The filing notes this is the 23rd consecutive year the company has raised its dividend. Full-year 2025 dividends per share were $3.57, compared with $3.34 in 2024.

  5. What major investment and balance sheet changes occurred in 2025?

    Capital expenditures rose to $4,398.1 million from $2,781.1 million, and the company acquired Hardin Solar Energy III LLC for $406.1 million net of cash acquired. Long-term debt increased to $18,498.1 million from $17,178.1 million, and short-term debt rose to $1,924.7 million from $1,116.6 million. Total assets reached $51,518.3 million.

04—Continue

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