Utility WEC Energy tops Q4 profit estimates as electricity, gas sales rise

Feb 5 (Reuters) - WEC Energy Group Inc WEC.N on Thursday reported a fourth-quarter profit that beat Wall Street estimates, driven by an uptick in residential and commercial sales as the utility sector continued to benefit from steady power demand.

U.S. utilities have been supported by steady electricity demand from households and small-to-mid-sized businesses, though elevated regulatory, financing and operating costs continue to pressure the sector.

Power consumption is also rising as data centers dedicated to artificial intelligence and cryptocurrency expand and as customers electrify heating and transportation.

The Milwaukee-based company, which serves nearly 4.7 million electric and natural-gas customers across Wisconsin, Illinois, Michigan and Minnesota, said residential electricity usage rose 3.5% for the year, while total retail deliveries increased 2.2%.

Electricity consumption from small commercial and industrial customers climbed 1.6%, and usage among large commercial and industrial customers also increased 1.6%, the company said.

WEC said that natural-gas deliveries in Wisconsin rose 11.5% during 2025. The company provides natural gas through its We Power and Wisconsin Public Service units.

The quarter included a 45-cent-per-share charge related to proceedings over infrastructure cost-recovery riders in Illinois.

On an adjusted basis, WEC posted quarterly earnings of $1.42 per share for the three months ended December 31, compared with average analysts' estimate of $1.40 per share, according to data compiled by LSEG.