WEC Energy Group, Inc. reported a significant increase in financial performance for the third quarter of 2025, with operating revenues reaching $2.104 billion, up from $1.864 billion in the same period last year. This represents a 12.9% increase year-over-year. The company's net income attributed to common shareholders also rose to $271.3 million, compared to $240.1 million in the prior year, marking a 12.9% increase. Earnings per share for the quarter were $0.83, up from $0.76 in the previous year.
The company experienced notable changes in its operational metrics, with total operating expenses increasing to $1.654 billion from $1.480 billion in the prior year. This rise was primarily driven by higher costs of sales and increased depreciation and amortization expenses. The Wisconsin segment, which is a significant contributor to the company's overall performance, reported a net income of $281.3 million, reflecting a $43.5 million increase compared to the same quarter in 2024. This growth was attributed to higher margins from recent rate orders approved by the Public Service Commission of Wisconsin (PSCW) and increased retail sales volumes.
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, which is expected to contribute to its non-utility energy infrastructure segment. Additionally, the company has plans to invest approximately $11.6 billion in renewable energy projects from 2026 to 2030, including significant investments in solar and battery storage technologies.
Operationally, WEC Energy Group serves approximately 1.7 million electric customers and 3.0 million natural gas customers. The company reported a total of 325.3 million shares outstanding as of September 30, 2025. The increase in customer counts and engagement metrics reflects the company's ongoing efforts to enhance service reliability and expand its energy offerings. The company also noted a focus on improving its natural gas distribution systems and investing in electric vehicle charging infrastructure, aligning with broader sustainability goals.
Looking ahead, WEC Energy Group anticipates continued growth driven by its capital investment strategy and regulatory support. The company expects to maintain adequate liquidity to meet its cash requirements through internal cash generation and access to capital markets. However, it also acknowledges potential risks related to regulatory changes, market conditions, and environmental compliance that could impact its operations and financial performance in the future.
About WEC ENERGY GROUP, INC.
WEC Energy Group is a diversified utility holding company providing regulated electric and natural gas services, primarily in Wisconsin and Illinois. It owns and operates generation assets including coal, natural gas, and renewable sources, and manages extensive energy transmission and distribution networks. The company emphasizes environmental sustainability, investing in renewable energy projects and reducing carbon emissions, while serving residential, commercial, and industrial customers in its core markets.
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