Wisconsin Energy Corp Earnings Cheat Sheet: Profit Rises for Third Straight Quarter

S&P 500 (NYSE:SPY) component Wisconsin Energy Corporation (NYSE:WEC) reported net income above Wall Street’s expectations for the third quarter. Wisconsin Energy, through its subsidiaries, conducts operations mainly in utility energy. Its main subsidiaries are Wisconsin Electric, Wisconsin Gas, and We Power.

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Wisconsin Energy Earnings Cheat Sheet for the Third Quarter

Results: Net income for Wisconsin Energy Corporation rose to $129.8 million (55 cents per share) vs. $112.2 million (48 cents per share) in the same quarter a year earlier. This marks a rise of 15.7% from the year earlier quarter.

Revenue: Rose 8.2% to $1.05 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: WEC beat the mean analyst estimate of 49 cents per share. Analysts were expecting revenue of $1.06 billion.

Quoting Management: “Summer temperatures in the Midwest were warmer than normal this year. But the summer of 2010 was one of the hottest on record,” said Gale Klappa, chairman, president and chief executive of Wisconsin Energy. “As a result, residential demand for air conditioning was slightly lower than we recorded in the third quarter last year.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the second quarter, net income rose 23.4% and in the first quarter, the figure rose 31.8%.

Revenue has risen the past four quarters. Revenue increased 11.3% to $991.7 million in the second quarter. The figure rose 5.8% in the first quarter from the year earlier and climbed 2.1% in the fourth quarter of the last fiscal year from the year-ago quarter.

The company has now topped analyst estimates for the last three quarters. It beat the mark by 2 cents in the second quarter and by 6 cents in the first quarter.

Looking Forward: Over the last 30 days, analysts have not been optimistic about the company’s next quarter performance. The average estimate for the fourth quarter is now 51 cents per share, down from 53 cents. Over the past three months, the average estimate for the fiscal year has climbed from $2.08 per to share to $2.11.

Competitors to Watch: DTE Energy Company (NYSE:DTE), CMS Energy Corporation (NYSE:CMS), Integrys Energy Group, Inc. (NYSE:TEG), The Empire District Electric Co. (NYSE:EDE), Alliant Energy Corporation (NYSE:LNT), Avista Corporation (NYSE:AVA), SCANA Corporation (NYSE:SCG), CH Energy Group, Inc. (NYSE:CHG), Ameren Corporation (NYSE:AEE), and Dominion Resources, Inc. (NYSE:D).

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Source: Xignite Financials)