Wisconsin Energy Earnings: A Mixed Bag
Wisconsin Energy Corp. (NYSE:WEC) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.03%.
Wisconsin Energy Corp. Earnings Cheat Sheet
Results: Net income decreased -14.83% to $98.8 million (43 cents per diluted share) in the quarter versus a net gain of $116 million in the year-earlier quarter.
Revenue: Decreased 3.88% to $1.07 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Wisconsin Energy Corp. reported adjusted net income of 43 cents per share. By that measure, the company beat the mean analyst estimate of $0.41. It missed the average revenue estimate of $1.11 billion.
Quoting Management: “Overall, sales to our large commercial and industrial customers came in better than forecast,” said Gale Klappa, chairman, president, and chief executive. “Based on customer input, we had expected a decline in sales. As the year progressed, however, we saw strength in several sectors — including food products, chemical manufacturing, metal fabrication and plastics…