Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of...
WEC Energy (WEC) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
The board of directors of WEC Energy Group (NYSE: WEC) today declared a quarterly cash dividend of 63.25 cents per share on the company's common stock.
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
WEC Energy Group (NYSE: WEC) announced today that the company will hold a virtual-only 2020 Annual Meeting on Wednesday, May 6, at 1:30 p.m. Central/2:30 p.m. Eastern time.
At WEC Energy Group's (NYSE: WEC) virtual annual meeting of stockholders today, Executive Chairman Gale Klappa and President and CEO Kevin Fletcher highlighted the work of more than 7,000 employees across the region, who are providing essential energy service during the COVID-19 health crisis. They also emphasized that 2019 was "another year of solid results," pointing to achievements in financial performance, network reliability and infrastructure upgrades.
WEC Energy (WEC) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
WEC Energy Group (NYSE:WEC) shares have had a really impressive month, gaining 35%, after some slippage. The full year...
WEC Energy (WEC) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
(Bloomberg) -- WEC Energy Group Inc. and OGE Energy Corp. may face the utility industry’s steepest hits to earnings as unpaid customer bills pile up, according to a research report.The Milwaukee-based utility’s pre-tax income may slide as much as 3.7%, Hugh Wynne and Eric Selmon, analysts with the investment research company SSR LLC, wrote Monday. They warn that the economic fallout from the coronavirus pandemic may drive uncollected electric and natural gas bills to the highest in two decades.Other utilities that may face a significant drag on earnings include Oklahoma-based OGE, with an estimated 3% decline, Avangrid Inc.with a 2.9% drop and Dominion Energy with a 2.8% fall.With millions of people out of work, many utilities have stopped disconnecting customers for failing to pay bills. While certain states allow utilities to recover the cost of unpaid bills through additional charges, utility cash flows will suffer until the rate increases go into effect, the analysts said. In addition, eleven states including Wisconsin are allowing utilities to track Covid-19 expenses, they said.Annual changes in unemployment rates account for about 39% of the increase in uncollected electric bills and 45% of gas bills, according to the report. U.S. unemployment skyrocketed to 14.7% in April, the highest since the Great Depression, as shelter-in-place orders forced businesses to shed millions of workers.WEC Energy said that under current regulations, the company can recover bad debt expenses and is working with regulators and stakeholders to track bills for future recovery. The company is also working with federal and state governments to help customers manage their bills. OGE, Avangrid and Dominion didn’t immediately respond to requests for comment.Regulators are letting utilities defer virus-related expenses including those from non-payments for future potential recovery, WEC Chairman Gale E. Klappa said during an earnings call last week.Dominion can recover the costs of lapsed collections over time for nearly all of its gas utilities. Chief Financial Officer James Chapman said on the Virginia-based company’s first-quarter earnings call that he does not expect “bad debt expense in excess of budgeted amounts to be a material driver for the year.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
WEC Energy (WEC) delivered earnings and revenue surprises of 8.33% and -12.78%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
WEC Energy Group Inc. (NYSE: WEC) will issue its 2020 first-quarter earnings news release before the stock market opens Monday, May 4. A conference call for security analysts is scheduled for the same day at 1 p.m. Central time.
AGR vs. WEC: Which Stock Is the Better Value Option?
The last month has been quite a learning experience for even some of the most veteran and experienced executives in southeastern Wisconsin as the coronavirus pandemic has shut down major portions of the region's economy. You can count WEC Energy executive chairman Gale Klappa among those. The impact on the Milwaukee-based public utility firm has been an estimated 10% drop in electricity use. Klappa is advocating for a "smart reopening" of the economy working closely with health care professionals to ensure it is done the right way at the right time.
AGR vs. WEC: Which Stock Is the Better Value Option?
Companies in the news are: STWD, WEC, RACE, WLK
Q1 2020 WEC Energy Group Inc Earnings Call
Shares of WEC Energy Group (NYSE:WEC) were flat in pre-market trading after the company reported Q1 results.Quarterly Results Earnings per share increased 7.52% over the past year to $1.43, which beat the estimate of $1.32.Revenue of $2,109,000,000 lower by 11.27% year over year, which missed the estimate of $2,420,000,000.Looking Ahead Earnings guidance hasn't been issued by the company for now.View more earnings on WECRevenue guidance hasn't been issued by the company for now.Details Of The Call Date: May 04, 2020Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Finvestor.wecenergygroup.com%2Finvestors%2Fearnings%2Fdefault.aspx&eventid=2201359&sessionid=1&key=542CE9011CF5E038467C2E081B49CF96®Tag=&sourcepage=registerPrice Action 52-week high: $109.5352-week low: $68.01Price action over last quarter: down 11.44%Company Description WEC Energy Group's electric and gas utility businesses serve electric and gas customers in its Illinois, Michigan, Minnesota, and Wisconsin service territories. WEC Energy Group also owns a 60% stake in American Transmission. WEC Energy Group's asset mix is approximately 52% electric generation and distribution, 33% gas distribution, and 13% electric transmission and 2% unregulated renewable generation.See more from Benzinga * Recap: Tyson Foods Q2 Earnings * Recap: Sempra Energy Q1 Earnings * Public Service Enterprise: Q1 Earnings Insights(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
In addition to the assumptions and other factors referred to in connection with the statements, factors described in WEC Energy Group's latest Form 10-K and subsequent reports filed with the Securities and Exchange Commission could cause actual results to differ materially from those contemplated. Now as you saw from our news release this morning, we reported first quarter 2020 earnings of $1.43 a share, a strong performance despite lower natural gas demand during a mild first quarter.
WEC Energy's (WEC) first-quarter 2020 earnings improve on a year-over-year basis.