WEC Energy Group Q3 Profit Rises - Quick Facts

(RTTNews) - WEC Energy Group Inc. (WEC) recorded third-quarter net income of $217.0 million or $0.68 per share, up from $182.5 million or $0.58 per share in the year-ago period.

Adjusted earnings per share for the quarter were $0.69, compared to $0.58 per share in the year-ago period. On average, eight analysts polled by Thomson Reuters expected earnings of $0.61 per share. Analysts' estimates typically exclude special items.

Consolidated revenue totaled $1.7 billion for both the third quarter of 2016 and 2015. The financial results of Integrys were included in both quarters. Analysts had a consensus revenue estimate of $2.21 billion for the quarter.

Allen Leverett, president and chief executive officer said, "Our results reflect the positive impact from the Integrys acquisition and warmer-than-normal weather in the third quarter. This was the second-warmest third quarter in southeastern Wisconsin in the past 84 years."

WEC Energy Group was formed on June 29, 2015, when Wisconsin Energy completed the acquisition of Integrys.