Did WEC change its 2026 earnings outlook?

No. The company reaffirmed its 2026 earnings guidance of $5.51 to $5.61 per share, which assumes normal weather for the remainder of the year.

What drove demand and sales trends in the quarter?

Retail electricity deliveries excluding the Michigan iron ore mine increased 1.1 percent (1.3 percent on a weather-normal basis). Large commercial and industrial electricity use rose 2.7 percent, small commercial and industrial use rose 0.7 percent, and residential use rose 0.2 percent. Wisconsin natural gas deliveries, excluding power generation, fell 3.5 percent (2.1 percent lower weather-normal).

How is WEC funding its capital program?

In the quarter, the company issued $1,005.2 million of long-term debt and had a $119.2 million increase in commercial paper, while retiring $1,118.9 million of long-term debt. Capital expenditures totaled $817.9 million, and operating cash flow was $1,218.4 million.

Has the company's debt and dividend picture changed?

Long-term debt rose to $19,381.8 million from $18,498.1 million at December 31, 2025, and short-term debt increased to $2,045.2 million. Dividends per common share were $0.9525 in the quarter, compared with $0.8925 a year earlier, and common dividends paid totaled $310.1 million.

WEC 8-K: Earnings & Results

01—Abstract

Summary

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

WEC Energy Group, Inc. filed a Form 8-K on May 5, 2026 to furnish its press release reporting first-quarter 2026 results for the quarter ended March 31, 2026.

Net income attributed to common shareholders was $804.4 million^a, or $2.45 per diluted share, compared with $724.2 million, or $2.27 per diluted share, in the first quarter of 2025. Consolidated operating revenues were $3,434.2 million, up $284.7 million from the prior-year quarter, and operating income rose to $980.0 million from $937.5 million. Management attributed the results to the continued execution of its capital plan and a focus on operating efficiencies.

Capital expenditures were $817.9 million^b in the quarter, versus $701.1 million a year earlier. Retail electricity deliveries, excluding the Michigan iron ore mine, rose 1.1 percent, or 1.3 percent on a weather-normal basis, while Wisconsin natural gas deliveries (excluding power generation) fell 3.5 percent. The company reaffirmed its 2026 earnings guidance of $5.51 to $5.61 per share, assuming normal weather for the rest of the year.

Balance sheet activity shows long-term debt increasing to $19,381.8 million^c from $18,498.1 million at year-end 2025, while short-term debt rose to $2,045.2 million. Cash provided by operating activities was $1,218.4 million, compared with $1,162.6 million in the prior-year period. Common dividends paid were $310.1 million, and dividends per share were $0.9525, up from $0.8925.

02—Key points

Key Highlights

Net income attributed to common shareholders of $804.4 million ($2.45 diluted EPS), up from $724.2 million ($2.27) in Q1 2025.
Consolidated operating revenues of $3,434.2 million, up $284.7 million year over year.
Operating income of $980.0 million versus $937.5 million a year earlier.
2026 EPS guidance of $5.51 to $5.61 reaffirmed, assuming normal weather for the remainder of the year.
Capital expenditures of $817.9 million in Q1 2026, up from $701.1 million; capital contributions to transmission affiliates were $75.8 million.
Long-term debt increased to $19,381.8 million, and the company issued $1,005.2 million of long-term debt while retiring $1,118.9 million.
Retail electricity deliveries (excluding the iron ore mine) rose 1.1 percent, or 1.3 percent weather-normal; Wisconsin natural gas deliveries fell 3.5 percent.

03—Questions

Frequently Asked Questions

How did WEC Energy Group perform in the first quarter of 2026?
The company reported net income attributed to common shareholders of $804.4 million, or $2.45 per diluted share, compared with $724.2 million, or $2.27 per diluted share, in the first quarter of 2025. Operating revenues were $3,434.2 million, up $284.7 million.
Did WEC change its 2026 earnings outlook?
No. The company reaffirmed its 2026 earnings guidance of $5.51 to $5.61 per share, which assumes normal weather for the remainder of the year.
What drove demand and sales trends in the quarter?
Retail electricity deliveries excluding the Michigan iron ore mine increased 1.1 percent (1.3 percent on a weather-normal basis). Large commercial and industrial electricity use rose 2.7 percent, small commercial and industrial use rose 0.7 percent, and residential use rose 0.2 percent. Wisconsin natural gas deliveries, excluding power generation, fell 3.5 percent (2.1 percent lower weather-normal).
How is WEC funding its capital program?
In the quarter, the company issued $1,005.2 million of long-term debt and had a $119.2 million increase in commercial paper, while retiring $1,118.9 million of long-term debt. Capital expenditures totaled $817.9 million, and operating cash flow was $1,218.4 million.
Has the company's debt and dividend picture changed?
Long-term debt rose to $19,381.8 million from $18,498.1 million at December 31, 2025, and short-term debt increased to $2,045.2 million. Dividends per common share were $0.9525 in the quarter, compared with $0.8925 a year earlier, and common dividends paid totaled $310.1 million.

04—Continue

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