WEC Energy Group

OverviewSuggest Edit

WEC Energy Group is an electric generation and distribution and natural gas delivery holding company. It operates Michigan Gas Utilities, Minnesota Energy Resources, North Shore Gas, Peoples Gas, Upper Michigan Energy Resources, We Energies, and Wisconsin Public Service subsidiaries. The subsidiaries are engaged in providing regulated electricity and gas services as well as nonregulated renewable energy.
TypePublic
Founded1981
HQMilwaukee, WI, US
Websitewecenergygroup.com
Employee Ratings3.6
Overall CultureC+

Latest Updates

Employees (est.) (Dec 2021)6,938(-4%)
Job Openings44
Revenue (FY, 2021)$8.3 B(+15%)
Share Price (Aug 2022)$103.8
Cybersecurity ratingBMore
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Key People/Management at WEC Energy Group

Scott J. Lauber

Scott J. Lauber

President and Chief Executive Officer, Director
Charles Matthews

Charles Matthews

President and Chief Executive Officer – Peoples Gas and North Shore Gas
Xia Liu

Xia Liu

Executive Vice President and Chief Financial Officer
Margaret C. Kelsey

Margaret C. Kelsey

Executive Vice President, General Counsel and Corporate Secretary, Compliance Officer
James Schubilske

James Schubilske

Vice President and Chief Audit Officer
Molly Mulroy

Molly Mulroy

Executive Vice President and Chief Administrative Officer
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WEC Energy Group Office Locations

WEC Energy Group has an office in Milwaukee
Milwaukee, WI, US (HQ)
231 W Michigan St
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WEC Energy Group Financials and Metrics

WEC Energy Group Revenue

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View revenue for all periods
WEC Energy Group's revenue was reported to be $8.32 b in FY, 2021 which is a 14.8% increase from the previous period.
USD

Revenue (Q1, 2022)

2.9b

Gross profit (Q1, 2022)

1.5b

Gross profit margin (Q1, 2022), %

52.4%

Net income (Q1, 2022)

565.9m

EBIT (Q1, 2022)

731.4m

Market capitalization (4-Aug-2022)

32.8b

Closing stock price (4-Aug-2022)

103.9

Cash (31-Mar-2022)

33.8m
WEC Energy Group's current market capitalization is $32.8 b.
Annual
USDFY, 2019FY, 2020FY, 2021

Revenue

7.5b7.2b8.3b

Revenue growth, %

(2%)(4%)15%

Cost of goods sold

4.9b4.4b5.3b

Gross profit

2.7b2.9b3.0b
Quarterly
USDQ1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022

Revenue

2.1b1.5b1.7b2.7b1.7b1.7b2.9b

Cost of goods sold

1.2b917.6m981.5m1.7b989.7m1.0b1.4b

Gross profit

918.2m631.1m669.5m945.9m686.5m712.1m1.5b

Gross profit Margin, %

65%71%71%53%41%52%
Annual
USDFY, 2018FY, 2019FY, 2020

Cash

84.5m37.5m24.8m

Accounts Receivable

1.3b1.2b1.2b

Prepaid Expenses

256.8m261.8m263.4m

Inventories

548.2m549.8m528.6m
Quarterly
Annual
USDFY, 2018FY, 2019FY, 2020FY, 2021

Net Income

1.1b1.1b1.2b1.3b

Depreciation and Amortization

845.8m926.3m975.9m1.1b

Inventories

(8.8m)(1.5m)21.2m(107.2m)

Accounts Payable

110.6m1.5m(61.3m)126.9m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022

Net Income

420.4m656.2m890.5m452.6m694.7m961.8m510.3m1.1b

Depreciation and Amortization

226.4m456.3m690.1m239.1m481.6m726.6m261.4m527.6m799.2m278.1m

Inventories

218.3m87.0m(44.9m)158.7m82.1m(23.6m)175.1m75.9m(117.1m)

Accounts Payable

(204.3m)(222.7m)(192.3m)(250.1m)(188.3m)(178.9m)(181.5m)(119.3m)(15.1m)(293.8m)
USDFY, 2018

Debt/Equity

0.4 x

Debt/Assets

0.4 x

Financial Leverage

1 x
Show all financial metrics

WEC Energy Group Operating Metrics

FY, 2018FY, 2019FY, 2020

Electric Customers (Residential, Wisconsin Segment)

1.44 m1.45 m1.46 m

Electric Customers (Small Commercial and Industrial, Wisconsin Segment)

173.2 k174.6 k175.8 k

Electric Customers (Large Commercial and Industrial, Wisconsin Segment)

900900800

Electric Customers (Wholesale and Other, Wisconsin Segment)

2.7 k2.7 k3 k

WEC Energy Group Acquisitions / Subsidiaries

Company NameDateDeal Size
Integrys Energy GroupJune 23, 2014$9.1 b
WicorApril 26, 2000$1.2 b
American Transmission Company LLC
ATC Development Manager, Inc.
ATC Holdco LLC
ATC Holding LLC
ATC Management Inc.
BGS Kimball Gas Storage, LLC
Bluewater Gas Storage, LLC
Bluewater Natural Gas Holding, LLC
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WEC Energy Group Revenue Breakdown

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WEC Energy Group revenue breakdown by business segment: 54.3% from Electric, 43.5% from Natural Gas and 2.2% from Other

WEC Energy Group Cybersecurity Score

Cybersecurity ratingPremium dataset

B

88/100

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WEC Energy Group Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

60-79

out of 100

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WEC Energy Group Online and Social Media Presence

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WEC Energy Group Company Culture

  • Overall Culture

    C+

    67/100

  • CEO Rating

    C-

    63/100

  • Compensation

    D+

    57/100

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WEC Energy Group News and Updates

WEC Energy Group reports second-quarter results

MILWAUKEE, Aug. 2, 2022 /PRNewswire/ -- WEC Energy Group (NYSE: WEC) today reported net income of $287.5 million, or 91 cents per share, for the second quarter of 2022 – up from $276.0 million, or 87 cents per share, in last year's second quarter. For the first six months of 2022, the...

WEC Energy Group to announce 2022 second-quarter results Aug. 2

MILWAUKEE, July 26, 2022 /PRNewswire/ -- WEC Energy Group Inc. (NYSE: WEC) will issue its 2022 second-quarter earnings news release before the stock market opens Tuesday, Aug. 2. A conference call for investors and security analysts is scheduled for the same day at 1 p.m. Central time....

Klappa, Lauber highlight a year of progress

At WEC Energy Group's (NYSE: WEC) virtual annual meeting of stockholders today, Executive Chairman Gale Klappa and President and CEO Scott Lauber highlighted how the company is building a bridge to the future with aggressive environmental goals and a focus on affordable, reliable and clean energy. T…

WEC Energy Group reports first-quarter results

MILWAUKEE, May 2, 2022 /PRNewswire/ -- WEC Energy Group (NYSE: WEC) today reported net income of $565.9 million, or $1.79 per share, for the first quarter of 2022 — up from $510.1 million, or $1.61 per share, for last year's first quarter. Consolidated revenues totaled $2.9 billion, up...

Clean energy investments and grid hardening part of We Energies rate plan

We Energies filed proposals with the Public Service Commission of Wisconsin (PSCW) today for regulatory reviews that will set customer rates for electricity, natural gas and steam for 2023. The filing comes as We Energies is in the midst of the largest clean energy transition in company history. “We…

Clean energy investments and grid hardening part of WPS rate plan

Wisconsin Public Service (WPS) filed proposals with the Public Service Commission of Wisconsin (PSCW) today for regulatory reviews that will set customer rates for electricity and natural gas for 2023. The filing comes as WPS is in the midst of the largest clean energy transition in company history.…
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WEC Energy Group Frequently Asked Questions

  • When was WEC Energy Group founded?

    WEC Energy Group was founded in 1981.

  • Who are WEC Energy Group key executives?

    WEC Energy Group's key executives are Scott J. Lauber, Charles Matthews and Xia Liu.

  • How many employees does WEC Energy Group have?

    WEC Energy Group has 6,938 employees.

  • What is WEC Energy Group revenue?

    Latest WEC Energy Group annual revenue is $8.3 b.

  • What is WEC Energy Group revenue per employee?

    Latest WEC Energy Group revenue per employee is $1.2 m.

  • Who are WEC Energy Group competitors?

    Competitors of WEC Energy Group include Consumers Energy, Kansai Electric Power and Eversource Energy.

  • Where is WEC Energy Group headquarters?

    WEC Energy Group headquarters is located at 231 W Michigan St, Milwaukee.

  • Where are WEC Energy Group offices?

    WEC Energy Group has an office in Milwaukee.

  • How many offices does WEC Energy Group have?

    WEC Energy Group has 1 office.