WEC Energy Q2 Profit Jumps 22% on Data Center Demand, Oracle Campus Advances
WEC is trading near its 52-week low of $102.95 (7.9% above the low).
Summary
WEC Energy posted a 22% jump in Q2 net income to $299.2 million ($0.91/share), driven by rising electricity sales to data centers and commercial customers. Revenue rose 2.6% to $2.06 billion, slightly above estimates. The Oracle data center campus in Port Washington is moving ahead with construction, reinforcing the company's data center growth narrative. Residential usage dipped 1.1%, but large commercial and industrial demand (excl. very large customers) grew 0.9%. The company reaffirmed its 2026 EPS guidance of $5.51-$5.61, though the midpoint of $5.56 came in below the $5.60 consensus. This follows the $37.5 billion capital plan unveiled in June, which is heavily tied to data center expansion.
At the time of this announcement, WEC was trading at $111.07 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $36.2B. The 52-week trading range was $102.95 to $119.91. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.