Wisconsin Energy Earnings: Here’s Why the Stock is Falling Now
Wisconsin Energy Corp. (NYSE:WEC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.41%.
Wisconsin Energy Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 1.96% to $0.52 in the quarter versus EPS of $0.51 in the year-earlier quarter.
Revenue: Rose 7.16% to $1.01 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Wisconsin Energy Corp. reported adjusted EPS income of $0.52 per share. By that measure, the company beat the mean analyst estimate of $0.46. It beat the average revenue estimate of $958.21 million.
Quoting Management: “Strong natural gas sales during a cooler than normal spring and the impact of the company’s share repurchase program were positive factors contributing to our solid results for this year’s second quarter,” said Gale Klappa, chairman, president and chief executive officer. “A cool June, however, significantly reduced demand for air conditioning across the region,” Klappa added. “By comparison, June temperatures last year were much warmer than normal.”
Key Stats (on next page)…
Revenue decreased 0% from $0 in the previous quarter. EPS decreased 31.58% from $0.76 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.65 to a profit $0.66. For the current year, the average estimate has moved up from a profit of $2.43 to a profit of $2.44 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)