Wisconsin Energy (WEC) reported Tuesday a sharp increase in its first-quarter net income, despite a decline in revenues, helped by a reduction in costs of fuel and purchased power. On a per share basis, the results came in above consensus estimates.
For the first quarter, net income climbed to $141.5 million or $1.20 per share from $123.2 million or $1.04 per share in the previous year.
On average, nine analysts polled by Thomson Reuters estimated the company to report earnings of $1.02 per share in the first quarter. Analysts' estimates typically exclude special items.
Revenues for the first quarter decreased to $1.40 billion from $1.43 billion in the same period last year, as consumption of electricity by residential customers declined due to milder winter weather and electricity use by commercial and industrial customers also came down. Four analysts were expecting revenue of $1.45 billion in the first quarter.
Gale Klappa chief executive officer of Wisconsin attributed the rise in the bottom line to lower cost of fuel and purchased power.
Fuel and purchased power expenses reduced to $266.4 million from $338.2 million, while cost of gas sold decreased to $502.7 million from $560.2 in the year-ago period.
WEC closed Monday's trading session at $40.41 on the NYSE.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.