WEC Energy Group (WEC) FY2022 results: revenue $9.6 billion, up 15.4% on the year
WEC Energy Group, Inc. (WEC) reported revenue of $9.6 billion for fiscal 2022, the year ended 31 December 2022, up 15.4% on the year before. Net income was $1.4 billion, up 8.3%, and diluted earnings per share $4.45. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2023.
Revenue
$9.6 billion
+15.4% on the year
FY2015FY2022
Operating margin
20.0%
20.6% a year earlier
FY2015FY2022
Net income
$1.4 billion
+8.3% on the year
FY2015FY2022
Diluted EPS
$4.45
+8.3% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
2,061
2,033
2,196
+1.4%
Capital expenditure
2,315
2,253
2,239
+2.8%
Free cash flow
-254
-220
-42.8
Free cash flow margin
-2.6%
-2.6%
-0.6%
Cash from investing
-2,642
-2,312
-2,807
Cash from financing
676
294
601
+130.1%
Depreciation and amortisation
1,123
1,074
976
+4.5%
Share-based compensation
34.8
15.7
35.7
+121.7%
Buybacks
69.2
33.1
99.2
+109.1%
Dividends paid
918
855
798
+7.4%
Dividend per share
$2.91
$2.71
$2.53
+7.4%
Diluted shares, weighted
316m
316m
316m
-0.1%
Shares outstanding at period end
315m
315m
315m
0.0%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
11,617
11,113
10,662
+4.5%
Debt
17,294
15,590
14,291
+10.9%
Operating lease liabilities
25.4
29.1
n/a
-12.7%
Finance lease liabilities
110
51.3
55.3
+115.4%
Other liabilities
12,825
12,205
12,020
+5.1%
Total liabilities and equity
41,872
38,988
37,028
+7.4%
Fixed assets
29,114
26,982
25,707
+7.9%
Goodwill
3,053
3,053
3,053
0.0%
Cash and equivalents
28.9
16.3
24.8
+77.3%
Receivables
1,818
1,506
1,203
+20.8%
Other assets
7,858
7,431
7,040
+5.7%
Total assets
41,872
38,988
37,028
+7.4%
10-K for the year ended 31 December 2022, filed 23 February 2023: the filing.