WEC Energy Reports 5% Revenue Growth, 10% Net Income Increase

By Bobby Samwell • Saturday, December 07 10:15 • Permanent Link

In December 2024, Energizing the Future provided an investor update, revealing key financial and operational metrics. The company reported a 5% increase in revenue compared to the previous period, reaching $1.2 billion. Additionally, net income showed a substantial improvement, surging by 10% to $150 million.

Moreover, the company's operating expenses decreased by 3%, a positive indicator of potential cost-saving measures. On the operational front, Energizing the Future noted a 7% rise in the number of customers served, reaching a total of 2.5 million.

Furthermore, the company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin expanded by 2%, demonstrating improved operational efficiency. This was accompanied by a 15% increase in capital expenditures, totaling $180 million, signaling robust investment in future growth opportunities.

In terms of shareholder returns, Energizing the Future reported a 5% increase in dividends, reflecting the company's commitment to delivering value to its investors.

Following these announcements, the company's shares moved -0.6%, and are now trading at a price of $97.09. For the full picture, make sure to review WEC Energy's 8-K report.

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