Wisconsin Energy (NYSE: WEC) is reporting a net income of
$1221.4 million, or 53 cents per share for the fourth quarter of
2014. This compares to net worth income of $144.3 million, or 63
cents per share for the fourth quarter of 2013.
related to the acquisition of Integrys Energy reduced earnings
by 3 cents a share in the most recent quarter. Excluding the
effect of this item, adjusted earnings for the fourth quarter of
2014 were 56 cents per share.
quarter 2014 revenues rose to $1.23 billion, up from $1.18
billion recorded in the corresponding quarter a year ago. For
the full-year 2014, revenues reached $5.00 billion versus
$4.52 billion in the previous year.
for the full year 2014 totaled $588.3 million or $2.59 a share
-- compared to $577.4 million or $2.51 per share for 2013.
related to the acquisition of Integrys Energy reduced 2014
earnings by 6 cents per share. Excluding the effect of this
item, adjusted earnings for the year 2014 were $2.65 per share.
factors contributing to the year's strong performance include
colder winter temperatures that drove record demand for natural
gas, effective overall cost controls, as well as lower medical
and benefit costs.
use of electricity in 2014 was down by 2.4 percent, which was
the result of cool summer weather.
of electricity by small commercial and industrial customers
dropped by 0.4 percent. Electricity deliveries to large
commercial and industrial customers, excluding the iron ore
mines in Michigan's Upper Peninsula, rose by 0.9 percent.
On a weather
normal basis, total deliveries of electricity to retail
customers, excluding the iron ore mines, rose by 0.4 percent in
strength from our large commercial and industrial customers
throughout the year," said Gale Klappa, chairman and chief
executive. "Several sectors of our regional economy, including
paper manufacturing, food products, primary metals, and rubber
and plastics, showed steady improvement. And Wisconsin's
unemployment rate dropped to 5.2 percent at the end of 2014,
[which is] well below the national average. In addition, we saw
an uptick in customer growth during 2014, particularly in our
natural gas distribution business.
At the end
of December, the company was serving 5,300 more electric
customers and 9,100 more natural gas customers than the previous
2014 was another year of achievement for Wisconsin Energy," said
Klappa. We were named the most reliable utility in the Midwest
for the fourth year in a row, extending our strong track record
of network reliability and customer satisfaction.
Energy posted a package of detailed financial information on its
fourth quarter and year-end performance on its website.
information about Wisconsin Energy, visit