What drove the increase in third-quarter earnings?

Management attributed the results to warmer-than-normal weather, execution of the capital plan and operating efficiency. Net income attributed to common shareholders rose to $389.3 million from $271.3 million, and operating income rose to $563.7 million from $449.6 million.

Did WEC Energy Group change its 2026 earnings outlook?

Yes. The company raised and narrowed its 2026 earnings guidance to $5.60 to $5.64 per diluted share, from $5.51 to $5.61 previously. The filing says the change is largely due to favorable weather and capital investment supported by VLCs, and assumes normal weather for the remainder of the year.

How did electricity demand trend in the quarter?

Retail electricity deliveries, excluding the iron ore mine and VLCs, rose 3.3 percent year over year in Q3 2026. Residential use increased 5.1 percent and small commercial and industrial use increased 3.5 percent, while large commercial and industrial use rose 1.0 percent. On a weather-normal basis, deliveries increased 0.4 percent.

How is the company funding its capital program?

For the nine months, the company issued $2,395.6 million of long-term debt and $382.5 million of common stock, net, and retired $1,558.5 million of long-term debt. Operating cash flow of $3,413.1 million covered part of $3,318.7 million in capital expenditures, and dividends paid on common stock totaled $930.8 million.

WEC 8-K: Earnings & Results

01—Abstract

Summary

Summary of the 8-K filed October 29, 2026. Cited figures are marked; the original filing is the authoritative source.

WEC Energy Group, Inc. reported third-quarter 2026 net income attributed to common shareholders of $389.3 million^a, or $1.18 per diluted share, compared with $271.3 million, or $0.83 per diluted share, in the third quarter of 2025.

For the nine months ended September 30, 2026, net income attributed to common shareholders was $1.49 billion^b, or $4.54 per diluted share, versus $1.24 billion, or $3.85 per diluted share, a year earlier. Consolidated revenues for the nine months were $7.8 billion, up $523.9 million from the prior-year period. Management attributed the results to warmer-than-normal weather, execution of its capital plan and operating efficiency.

The company raised and narrowed its 2026 earnings guidance to $5.60 to $5.64^c per diluted share, from the previously announced range of $5.51 to $5.61. The filing states the revision is largely due to favorable weather and capital investment supported by Very Large Customers (VLCs), and assumes normal weather for the remainder of the year. Retail electricity deliveries, excluding the iron ore mine in Michigan's Upper Peninsula and VLCs in Wisconsin, rose 3.3 percent in the third quarter, or 0.4 percent on a weather-normal basis.

The nine-month cash flow statement shows net cash provided by operating activities of $3,413.1 million^d, up from $2,954.8 million, while capital expenditures, including AFUDC-Debt, were $3,318.7 million versus $3,120.0 million. Long-term debt stood at $19,717.2 million at September 30, 2026, up from $18,498.1 million at December 31, 2025. The filing furnishes the full earnings press release as Exhibit 99.1.

02—Key points

Key Highlights

Q3 2026 net income attributed to common shareholders was $389.3 million, or $1.18 per diluted share, versus $271.3 million, or $0.83 per diluted share, in Q3 2025.
Nine-month 2026 net income attributed to common shareholders was $1.49 billion, or $4.54 per diluted share, versus $1.24 billion, or $3.85 per diluted share, in the prior-year period.
2026 earnings guidance was raised and narrowed to $5.60 to $5.64 per diluted share, from $5.51 to $5.61 previously, assuming normal weather for the rest of the year.
Nine-month consolidated revenues were $7.8 billion, up $523.9 million year over year.
Q3 retail electricity deliveries (excluding the iron ore mine and VLCs) rose 3.3 percent, with residential use up 5.1 percent and small commercial and industrial use up 3.5 percent; weather-normal growth was 0.4 percent.
Nine-month operating cash flow was $3,413.1 million, up from $2,954.8 million, while capital expenditures were $3,318.7 million, up from $3,120.0 million.
Quarterly dividends per common share were $0.9525 in Q3 2026, up from $0.8925 in Q3 2025.

03—Questions

Frequently Asked Questions

What drove the increase in third-quarter earnings?
Management attributed the results to warmer-than-normal weather, execution of the capital plan and operating efficiency. Net income attributed to common shareholders rose to $389.3 million from $271.3 million, and operating income rose to $563.7 million from $449.6 million.
Did WEC Energy Group change its 2026 earnings outlook?
Yes. The company raised and narrowed its 2026 earnings guidance to $5.60 to $5.64 per diluted share, from $5.51 to $5.61 previously. The filing says the change is largely due to favorable weather and capital investment supported by VLCs, and assumes normal weather for the remainder of the year.
How did electricity demand trend in the quarter?
Retail electricity deliveries, excluding the iron ore mine and VLCs, rose 3.3 percent year over year in Q3 2026. Residential use increased 5.1 percent and small commercial and industrial use increased 3.5 percent, while large commercial and industrial use rose 1.0 percent. On a weather-normal basis, deliveries increased 0.4 percent.
How is the company funding its capital program?
For the nine months, the company issued $2,395.6 million of long-term debt and $382.5 million of common stock, net, and retired $1,558.5 million of long-term debt. Operating cash flow of $3,413.1 million covered part of $3,318.7 million in capital expenditures, and dividends paid on common stock totaled $930.8 million.

04—Continue

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