Data center demand lifts WEC Energy Q2 earnings 22%; 2026 guidance reaffirmed
WEC is trading near its 52-week low of $102.95 (5.6% above the low).
Summary
WEC Energy Group reported Q2 2026 net income of $299.2 million ($0.91/share), a 22% year-over-year increase, and reaffirmed its full-year EPS guidance. The quarter featured regulatory approvals for data center tariffs and proposed rate increases to fund its $37.5 billion capital plan.
Key Events · Earnings and Guidance · WEC
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Q2 Earnings Beat
Higher electric sales to data centers and improved non-utility renewable performance pushed net income up 22% to $299.2 million, or $0.91 per share.
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2026 Guidance Reaffirmed
Full-year EPS guidance of $5.51 to $5.61 was reaffirmed, consistent with the $5.56 consensus.
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Data Center Tariffs Approved
On May 21, 2026, the PSCW approved Very Large Customer and Bespoke Resources tariffs; Microsoft has already signed a service agreement.
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Wisconsin Rate Case Filed
To fund the $37.5 billion capital plan, WE, WPS, and WG filed for 2027 and 2028 rate increases, seeking ROEs of 9.9%.
Analysis · WEC · Energy & Transportation
Rising electricity sales to data centers and better conditions in its non-utility renewable segment drove a 22% jump in WEC Energy Group's Q2 net income, to $299.2 million. The company also reaffirmed its full-year 2026 EPS guidance of $5.51 to $5.61, roughly in line with consensus. Key regulatory wins punctuated the quarter: the PSCW approved tariffs for very large customers like Microsoft, which has already signed a service agreement, and the company filed for significant rate increases in Wisconsin for 2027 and 2028. While these developments support the massive $37.5 billion capital plan, they also introduce regulatory risk and execution challenges.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 29.6% of the 1645 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, WEC was trading at $108.70 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $35.6B. The 52-week trading range was $102.95 to $119.91. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.