Quarterly ResultMay 7, 2026, 06:08 AM
Wisconsin Electric Q1 Net Income $235.2M; Plant Retirement Postponed
AI Summary
Wisconsin Electric Power Company reported a significant increase in net income attributed to common shareholders, reaching $235.2 million for the first quarter of 2026, up from $196.1 million in the prior year. Operating revenues also rose to $1,323.5 million. The company announced the postponement of the retirement of Oak Creek Power Plant Units 7 and 8 to the end of 2027 to ensure reliability and affordability. Additionally, Wisconsin Electric is pursuing two acquisitions: a 30% interest in Weston Generating Station Unit 4 for an estimated $150 million and an 80% interest in Whitetail Wind Energy Generation Facility for approximately $178 million.
Key Highlights
- Net income attributed to common shareholder for Q1 2026 was $235.2 million, up from $196.1 million in Q1 2025.
- Operating revenues for Q1 2026 increased to $1,323.5 million from $1,179.1 million in Q1 2025.
- Retirement of Oak Creek Power Plant Units 7 and 8 postponed from end of 2026 to end of 2027.
- Filed for approval to acquire 30% interest in Weston Generating Station Unit 4 for estimated $150 million.
- Signed agreement to acquire 80% interest in Whitetail Wind Energy Generation Facility for approximately $178 million.
- Issued $300.0 million of 5.65% Debentures in March 2026 to repay short-term debt.
- Net cash provided by operating activities increased to $481.3 million from $391.7 million in Q1 2025.
- Received $405.0 million equity contribution from parent in Q1 2026.