WEC Reports Lower-Than-Expected Earnings in Q4
MILWAUKEE (AP) - WEC Energy Group Inc. (WEC) released its financial results for the fourth quarter on Tuesday, falling short of market expectations.
The Milwaukee-based energy provider reported a net income of $453.5 million, equating to $1.43 per share. Analysts' consensus estimate, as gathered by Zacks Investment Research, anticipated earnings of $1.44 per share.
WEC's revenue for the quarter came in at $2.28 billion, also missing Street forecasts. Three analysts surveyed by Zacks had projected $2.6 billion.
For the entire year, WEC reported a profit of $1.53 billion ($4.83 per share) on revenue of $8.6 billion.