WEC Energy Group, Inc. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - WEC Energy Group, Inc. (WEC) revealed a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $240.1 million, or $0.76 per share. This compares with $316.0 million, or $1.00 per share, in last year's third quarter.

Excluding items, WEC Energy Group, Inc. reported adjusted earnings of $258.5 million or $0.82 per share for the period.

Analysts on average had expected the company to earn $0.70 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.8% to $1.863 billion from $1.957 billion last year.

WEC Energy Group, Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $240.1 Mln. vs. $316.0 Mln. last year. -EPS (Q3): $0.76 vs. $1.00 last year. -Revenue (Q3): $1.863 Bln vs. $1.957 Bln last year.

-Guidance: Full year EPS guidance: $4.80 - $4.90