FINWIRES · TerminalLIVE
FINWIRES

WEC Energy Posts Higher Q1 Electricity Sales, Gas Volumes Dip

By

-- WEC Energy (WEC) reported Q1 earnings on Tuesday, showing retail electricity sales volumes in the Wisconsin segment rose 1.6% gigawatt-hour, compared to the same period a year ago.

The utility said excluding mining, retail electricity sales increased 1.1%.

WEC Energy said sales volumes grew 2.7% year over year, driven by demand from commercial and industrial customers. Total commercial and industrial electricity sales increased by 4. Residential demand was broadly flat, edging up 0.2%.

Residential gas sales, in contrast, dropped 4% y-o-y, while total commercial and industrial volumes were 4.7%. Overall retail natural gas sales volumes declined 4.3%, or 2.5% on a weather-normalized basis.

WEC Energy said transport volumes, excluding power generation, were down 2%, while total gas sales volumes, excluding power generation, fell 3.5%.

The company said total megawatt-hour sales dropped 3.3% to 10.28 terawatt-hours in Q1, compared with 10.62 TWh for the same period a year ago.

The energy firm forecasts total retail electricity sales to grow about 1.5% in 2026, with stronger gains of 5.1% expected in the commercial and industrial segment.

Retail electricity sales during the quarter edged up 1.6% y-o-y to 9 TWh. Sales to commercial and industrial users rose 4% to 2.97 TWh, while small commercial and industrial demand increased 0.7% to 3.21 TWh. Residential sales were broadly stable, inching up 0.2% to 2.80 TWh.

Price: $116.47, Change: $+0.03, Percent Change: +0.03%

Related Articles

Australia

American Electric Power CEO Says Speed to Market Key Issue in Load Connection

American Electric Power (AEP) CEO Bill Fehrman said Tuesday that speed to market is the main issue in efficiently connecting energy load to generation.In a Q1 earnings call, Fehrman said that, in particular, the performance and stakeholder approval process of PJM, the US mid-Atlantic grid operator, represents a major challenge."The current state of PJM's performance and stakeholder approval process does not give me great confidence that these issues will be resolved any time soon," Fehrman said on the call."In fact, if something is not done now, I expect we could still be having these same conversations in 10 years," he added.Expanding and strengthening the grid will ensure new generation resources can connect quickly, reliably, and affordably to serve the growing load, the CEO said.Price: $137.27, Change: $+2.61, Percent Change: +1.94%

$AEP
Australia

MGE Energy Q1 Earnings, Revenue Rise

MGE Energy (MGEE) reported Q1 earnings Tuesday of $1.32 per diluted share, up from $1.14 a year earlier.One analyst polled by FactSet expected $1.13.Revenue for the three months ended March 31 was $242.7 million, up from $219 million a year earlier.Price: $80.48, Change: $+0.36, Percent Change: +0.46%

$MGEE
Research

Research Alert: CFRA Lowers Rating On Shares Of Pfizer Inc. To Hold From Buy

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target to $28 from $31, 9.4x our 2027 EPS estimate, below PFE's historical forward P/E average. We keep our 2026 EPS view at $2.99 and our 2027 EPS at $2.97. PFE delivered solid top- and bottom-line Q1 results today that exceeded expectations while demonstrating continued progress in its post-Covid transition strategy. While we continue to think that shares are trading at a discount, as the company's main focus in the next year is on AI integration, and a new transformative M&A is not a key priority, we see limited catalysts to drive meaningful upside potential. We think PFE is aiming to maximize value from launched and acquired products with particular focus on key areas: oncology, obesity/metabolic disease, and vaccines. PFE remains committed to maintaining its dividend, continuing productivity initiatives ($7.2B cost savings target), and pursuing targeted business development (with $7B capacity) but we do not expect PFE executing share buybacks to support the share price in the near term.

$PFE