Earnings call transcript: WEC Energy beats Q3 2026 estimates, shares rise

WEC Energy Group surpassed expectations in the third quarter of 2026, reporting adjusted earnings of $1.18 per share and revenue of $2.29 billion, both higher than analysts' forecasts. The company boosted its full-year 2026 earnings guidance to between $5.60 and $5.64 per share, reflecting stronger-than-anticipated performance. The stock rose 5.04% in premarket trading to $116.07, nearing the top of its 52-week range.

While the company's market capitalization now stands at $38.19 billion, its valuation appears overvalued according to InvestingPro's Fair Value analysis, placing it among stocks on the Most Overvalued list. WEC's growth is largely driven by demand from large customers, including data centers operated by Microsoft and Oracle. The positive results were bolstered by warmer-than-average weather, higher rate-based investment returns, and improved operating efficiency.

Despite some offsetting factors such as higher depreciation, interest expense, and tax items, WEC's third-quarter adjusted EPS of $1.18 exceeded expectations by $0.23, or 24.2%. The company's five-year capital plan was expanded to $47.5 billion, marking a 26% increase from the previous plan. WEC's strong earnings and ambitious growth plan have contributed to a 5.04% increase in the company's stock price, solidifying its position in the utility sector.