WEC Energy Group Reports 13.4% Revenue Growth and Increased Net Income in Q2 2025

WEC Energy Group, Inc. reported significant financial growth in its quarterly earnings for the period ending June 30, 2025, with operating revenues reaching $2.01 billion, a 13.4% increase from $1.77 billion in the same quarter of 2024. The company’s net income attributed to common shareholders was $245.4 million, up from $211.3 million year-over-year, translating to a diluted earnings per share of $0.76, compared to $0.67 in the prior year. This growth was primarily driven by higher margins resulting from recent rate orders approved by the Public Service Commission of Wisconsin (PSCW) and increased retail sales volumes.

In comparison to the previous fiscal period, WEC Energy Group's operating expenses also rose, totaling $1.60 billion, up from $1.41 billion in the second quarter of 2024. The increase in expenses was attributed to higher costs in sales, operation and maintenance, and depreciation. Notably, the company reported a $50.3 million increase in net income from its Wisconsin segment, which benefited from the impact of the PSCW's rate orders effective January 1, 2025, and higher retail sales volumes due to colder weather conditions.

Strategically, WEC Energy Group has been active in expanding its renewable energy portfolio. The company completed the acquisition of a 90% ownership interest in the Hardin III solar generating facility in Ohio for $406.1 million in February 2025. This acquisition is part of a broader strategy to invest approximately $9.1 billion in regulated renewable energy projects from 2025 to 2029, which includes plans for significant solar and natural gas generation capacity. The company also reported a capital expenditure of $1.53 billion for the first half of 2025, reflecting a focus on infrastructure improvements and renewable energy investments.

Operationally, WEC Energy Group serves approximately 1.7 million electric customers and 3.0 million natural gas customers. The company has seen an increase in customer counts and engagement metrics, with electric sales volumes rising to 10.66 million MWh in the second quarter of 2025, compared to 10.38 million MWh in the same quarter of 2024. The company’s strategic initiatives, including the implementation of advanced metering infrastructure and renewable energy programs, are expected to enhance customer engagement and operational efficiency.

Looking ahead, WEC Energy Group maintains a positive outlook, projecting continued growth driven by its capital investment strategy and regulatory support. The company anticipates that its ongoing investments in renewable energy and infrastructure will position it favorably in the evolving energy market, while also addressing environmental compliance and customer demand for cleaner energy solutions.