WEC Energy ( NYSE: WEC ) -0.5% in Thursday's trading after beating estimates for Q4 GAAP earnings and revenues , but issuing downside guidance for Q1 earnings.
Q4 net income rose to $252.7M, or $0.80/share, from $224.2M, or $0.71/share, in the year-earlier quarter, while revenues rose 16% Y/Y to $2.56B.
Q4 natural gas deliveries in Wisconsin, excluding natural gas used for power generation increased 10.2% during 2022; on a weather-normal basis, natural gas deliveries rose 5.4%.
Full-year retail deliveries of electricity excluding the iron ore mine in Michigan's Upper Peninsula fell 0.2%; on a weather-normal basis, retail deliveries of electricity in 2022 except the iron ore mine edged higher by 0.1%.
The company reiterated guidance for full-year EPS of $4.58-$4.62, in line with the $4.61 analyst consensus estimate, and said it expects Q1 EPS of $1.68-$1.72, below $1.73 consensus.
Earlier this week, WEC ( WEC ) agreed to buy an 80% stake in the Samson I Solar Energy Center in Texas for ~$250M.
WEC Energy ( WEC ) shares have gained 0.5% so far this year but lost 1.5% during the past year .
For further details see:
WEC Energy guides Q1 earnings below consensus