What's In Store For WEC Energy (WEC) This Earnings Season?
Zacks Investment Research | Oct 22, 2017 10:06PM ET
WEC Energy Group (NYSE:WEC) is slated to report third-quarter 2017 results before the market opens on Oct 26. In the second quarter, the company reported a positive earnings surprise of 6.78%. Let’s see how things are shaping up for this earnings season.
Factors to Consider
WEC Energy expects its earnings in the third quarter to be in the range of 63-67 cents per share, assuming normal weather, which is lower than the year-ago quarter earnings of 69 cents. Earnings in the last year quarter benefited from weather that was 43% warmer than normal.
Nearly 99% of its earnings come from regulated operations, which provided excellent visibility on its future performance. The economic growth in its service territories and systematic investment in regulated operation is expected to boost the bottom line. WEC Energy is currently providing services to a higher number of customers than the last-year level, which is expected to have a positive impact on demand and earnings.
Earnings Whispers
Our proven model does not conclusively show that WEC Energy is likely to beat earnings this quarter as it does not possess the key components. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. However, that is not the case here as you will see below.
Zacks ESP: The company’s Earnings ESP is -0.25%.
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