Wisconsin Energy Earnings Cheat Sheet: Third Straight Quarter of Rising Profit

S&P 500 (NYSE:SPY) component Wisconsin Energy Corporation (NYSE:WEC) reported net income above Wall Street’s expectations for the second quarter. Wisconsin Energy Corporation, through its subsidiaries, conducts operations mainly in: a utility energy and non-utility energy.

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Wisconsin Energy Earnings Cheat Sheet for the Second Quarter

Results: Net income for the diversified utilities company rose to $109.5 million (46 cents per share) vs. $88.7 million (38 cents per share) in the same quarter a year earlier. This marks a rise of 23.4% from the year earlier quarter.

Revenue: Rose 11.3% to $991.7 million from the year earlier quarter.

Actual vs. Wall St. Expectations: WEC reported adjusted net income of 41 cents per share. By that measure, the company beat the mean estimate of 39 cents per share. Analysts were expecting revenue of $997.6 million.

Quoting Management: “By virtually any meaningful measure – from customer satisfaction to network reliability to financial results – the company continues to perform at a high level,” said Gale Klappa, chairman, president and chief executive officer. “And we remain on plan with construction work on the new air quality controls at the original Oak Creek generating units and at the Glacier Hills Wind Park – which will become the largest wind farm in Wisconsin when it’s completed later this year.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 31.8% and in the fourth quarter of the last fiscal year, the figure rose 6.1%.

Revenue has risen the past four quarters. Revenue increased 5.8% to $1.33 billion in the first quarter. The figure rose 2.1% in the fourth quarter of the last fiscal year from the year earlier and climbed 18.4% in the third quarter of the last fiscal year from the year-ago quarter.

The company has now beaten estimates the last two quarters. In the first quarter, it topped expectations with net income of 72 cents versus a mean estimate of net income of 66 cents per share.

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).

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(Source: Xignite Financials)

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