WEC Energy Group (WEC) Q2 FY2026 earnings: revenue $2.1 billion, up 2.6% on the year

WEC Energy Group, Inc. (WEC) reported revenue of $2.1 billion for Q2 FY2026, the quarter ended 30 June 2026, up 2.6% on the same quarter a year earlier. Net income was $299 million, up 21.9% on the year, and diluted earnings per share $0.91. The figures are the company's own, from the 10-Q it filed with the SEC on 4 August 2026.

Revenue

$2.1 billion

+2.6% on the year · -40.0% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

21.0%

20.1% a year earlier

Q3 FY2024Q2 FY2026

Net income

$299 million

+21.9% on the year · -62.8% on the quarter

Q3 FY2024Q2 FY2026

Diluted EPS

$0.91

+19.7% on the year · -62.9% on the quarter

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 kept.

Quarterly net income rose to $299.2 million: Net income attributed to common shareholders was $299.2 million, or 91 cents per diluted share, in the second quarter, against $245.4 million, or 76 cents, a year earlier.
Six-month diluted EPS rose to $3.36: Net income for the first six months was $1.1 billion, or $3.36 per diluted share, against $969.6 million, or $3.02 per share, in the same period of 2025.
Retail electricity deliveries essentially flat: Retail deliveries, excluding the Upper Peninsula iron ore mine and Wisconsin Very Large Customers, were essentially flat in the second quarter compared with a year earlier.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	2,062	3,434	2,010	-40.0%	+2.6%
Cost of revenue	556	1,391	570	-60.1%	-2.6%
Gross profit	1,506	2,043	1,439	-26.3%	+4.7%
Gross margin	73.1%	59.5%	71.6%
Operating income	433	980	405	-55.8%	+6.9%
Operating margin	21.0%	28.5%	20.1%
Interest expense	229	228	221	+0.2%	+3.7%
Pre-tax income	328	859	262	-61.8%	+25.0%
Income tax	27.0	53.1	19.5	-49.2%	+38.5%
Effective tax rate	8.2%	6.2%	7.4%
Net income	299	804	245	-62.8%	+21.9%
Net margin	14.5%	23.4%	12.2%
Diluted EPS	$0.91	$2.45	$0.76	-62.9%	+19.7%

$ million except per share.

Free 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	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	992	1,218	853	-18.6%	+16.3%
Capital expenditure	1,262	818	829	+54.3%	+52.2%
Free cash flow	-270	400	23.9
Free cash flow margin	-13.1%	11.7%	1.2%
Cash from investing	-1,314	-886	-871
Cash from financing	310	-296	-56.5
Depreciation and amortisation	385	380	369	+1.3%	+4.3%
Buybacks	n/a	n/a	0.0
Dividends paid	310	310	285	+0.0%	+8.8%
Dividend per share	$0.95	$0.95	$0.89	0.0%	+6.7%
Diluted shares, weighted	329m	328m	322m	+0.2%	+2.1%
Shares outstanding at period end	326m	326m	322m	+0.0%	+1.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	14,573	14,569	13,670	+0.0%	+6.6%
Debt	22,564	21,947	20,171	+2.8%	+11.9%
Finance lease liabilities	416	370	362	+12.3%	+14.9%
Other liabilities	15,198	14,847	14,321	+2.4%	+6.1%
Total liabilities and equity	52,750	51,734	48,524	+2.0%	+8.7%
Fixed assets	39,828	38,707	36,061	+2.9%	+10.4%
Goodwill	3,053	3,053	3,053	0.0%	0.0%
Intangible assets	18.6	18.9	n/a	-1.6%
Cash and equivalents	50.0	45.6	23.0	+9.6%	+117.4%
Receivables	1,529	1,914	1,496	-20.1%	+2.2%
Other assets	8,272	7,995	7,891	+3.5%	+4.8%
Total assets	52,750	51,734	48,524	+2.0%	+8.7%

Questions

What was WEC Energy Group's revenue in Q2 FY2026?

WEC Energy Group (WEC) reported revenue of $2.1 billion for Q2 FY2026, the quarter ended 30 June 2026, up 2.6% on the same quarter a year earlier.

How much did WEC Energy Group earn in Q2 FY2026?

Net income for Q2 FY2026 was $299 million, up 21.9% on the year, and diluted earnings per share $0.91.

When did WEC Energy Group report Q2 FY2026 results?

WEC Energy Group filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 4 August 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	2,202	2,908	2,128	2,003	2,558	2,888	1,830	1,957	2,218	2,680	1,772	1,864	2,284	3,150	2,010	2,104	2,537	3,434	2,062	2,291
Cost of revenue	959	1,383	935	805	1,235	1,310	533	587	761	927	470	521	738	1,166	570	608	922	1,391	556	651
Gross profit	1,243	1,525	1,193	1,198	1,323	1,578	1,297	1,370	1,456	1,753	1,302	1,343	1,546	1,984	1,439	1,496	1,616	2,043	1,506	1,639
Gross margin	56%	52%	56%	60%	52%	55%	71%	70%	66%	65%	73%	72%	68%	63%	72%	71%	64%	59%	73%	72%
Operating income	327	731	408	404	380	669	425	472	341	813	365	384	591	938	405	450	453	980	433	564
Operating margin	15%	25%	19%	20%	15%	23%	23%	24%	15%	30%	21%	21%	26%	30%	20%	21%	18%	29%	21%	25%
Interest expense	114	118	120	128	150	172	179	182	194	192	201	204	218	223	221	224	228	228	229	242
Pre-tax income	244	695	351	375	311	582	338	376	240	710	252	270	514	786	262	305	320	859	328	437
Tax rate	8%	18%	18%	20%	19%	13%	14%	16%	9%	12%	17%	12%	12%	8%	7%	11%	1%	6%	8%	11%
Net income	224	566	288	302	253	508	290	316	218	622	211	240	454	724	245	271	317	804	299	389
Net margin	10%	19%	14%	15%	10%	18%	16%	16%	10%	23%	12%	13%	20%	23%	12%	13%	12%	23%	15%	17%
Diluted EPS	$0.71	$1.79	$0.91	$0.96	$0.80	$1.61	$0.92	$1.00	$0.69	$1.97	$0.67	$0.76	$1.43	$2.27	$0.76	$0.83	$0.97	$2.45	$0.91	$1.18
Operating cash flow	26.0	1,077	686	297	1.2	796	958	784	480	864	1,037	729	582	1,163	853	939	425	1,218	992	1,202
Capital expenditure	745	384	645	672	996	499	574	656	n/a	444	694	796	846	701	829	1,565	1,303	818	1,262	1,239
Free cash flow	-719	693	40.5	-375	-995	297	384	128	n/a	419	344	-67.3	-265	462	23.9	-626	-878	400	-270	-36.4
Buybacks	17.4	23.4	25.0	19.9	0.9	6.9	2.6	1.2	5.9	2.0	1.2	0.0	0.0	1.3	0.0	0.0	0.0	n/a	n/a	n/a
Dividends paid	214	230	229	230	229	246	246	246	246	264	264	264	265	284	285	289	290	310	310	310
Shares outstanding	315m	315m	315m	315m	315m	315m	315m	315m	315m	316m	316m	316m	318m	319m	322m	325m	325m	326m	326m	329m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 June 2026, filed 4 August 2026: the filing.