WEC Energy reports decrease in earnings

Freeman Staff

July 29, 2015

   

MILWAUKEE - WEC Energy Group Inc., the parent organization of We Energies, reported net income of  $80.9 million or 35 cents a share for the second quarter of 2015, a decline when compared to the net income of $133 million or 58 cents a share for the second quarter of 2014.

According to Wednesday’s announcement, costs related to the acquisition of Integrys Energy Group reduced earnings by 24 cents a share in the most recent quarter. Excluding the effect of this item, adjusted earnings for the second quarter of 2015 were 59 cents a share. Second quarter 2015 revenues totaled $991 million. Revenues were $1.04 billion in the second quarter of 2014.

“With our continued focus on cost control, productivity, and customer satisfaction, we delivered solid results in the second quarter despite a very cool June that virtually eliminated customer demand for air conditioning across the region,” said Gale Klappa, chairman and chief executive, in a statement.

WEC Energy Group, based in Milwaukee, is one of the nation’s premier energy companies, serving 4.4 million customers in Wisconsin, Illinois, Michigan and Minnesota.

www.wecenergygroup.com