We Energies’ parent company reports strong 3Q

Freeman Staff

Nov. 4, 2015

MILWAUKEE — The third quarter for We Energies’ parent company, WEC Energy Group Inc., was a strong one, according to data released Wednesday.

According to the company, systemwide revenue for the third quarter was $1.7 billion. Wisconsin Energy’s stand-alone third quarter revenue, which excludes $0.63 billion of revenue from Integrys, was $1.07 billion, which compares with revenue of $1.03 billion in the third quarter of 2014. 

Wisconsin Energy’s stand-alone earnings for the third quarter, excluding acquisition costs, increased to 61 cents a share.  In the corresponding quarter a year ago, Wisconsin Energy’s stand-alone earnings, adjusted for acquisition costs, were 57 cents a share.

“Since the close of the acquisition at the end of the second quarter, we’ve made significant progress in focusing our six operating utilities on world-class reliability, customer satisfaction, and financial discipline,” said Gale Klappa, chairman and chief executive, in a statement. “I’m very pleased with our post-acquisition work, and we remain highly confident that the merger will deliver tangible benefits to our customers, to the communities we serve, and to the stockholders who count on us to create value.”

Wisconsin Energy’s stand-alone earnings for the first nine months of this year, excluding acquisition costs, were $2.10 a share.  For the first nine months of 2014, Wisconsin Energy’s stand-alone earnings, adjusted for acquisition costs, were $2.08 a share, according to the announcement.