Can WEC Energy Beat 4Q16 Revenue Estimates?
WEC Energy: Revenues
WEC Energy Group (WEC), a Midwestern electric utility, is set to report its 4Q16 and 2016 financial results on February 1, 2017. Analysts are estimating $2.8 billion in revenue for the quarter, which ended on December 31, 2016. Its revenues were $1.9 billion in 4Q15.
WEC beat analysts’ revenue estimates in two of the last eight quarters.
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In 2015, WEC Energy acquired Integrys, making it the largest utility in the Midwest. It had a solid performance in the last few quarters, driven by increased contributions from the acquisition.
WEC is expected to benefit from favorable weather in 4Q16. According to the EIA’s (U.S. Energy Information Administration) STEO (Short-Term Energy Outlook) report for January 2017, the average residential customer will consume 3.0% more electricity between December 2016 and March 2017 compared to the same period last year.
The company will likely continue its healthy performance in 4Q16, given its increased rate base and enhanced customer base. Earnings in 4Q16 for utilities are expected to be higher, driven by favorable weather during the quarter. Analysts are anticipating healthy revenue growth for utilities year-over-year.
Xcel Energy (XEL) will report its earnings on February 2, 2017. Analysts are expecting its revenues to rise more than 20.0% year-over-year. PPL (PPL) will report its 4Q16 earnings on February 1, 2017.