WECWEC Energy Group

Utilities · Electric & Gas Utilities · NYSE

For more information about our business operations, including financial and geographic information, see Note 22, Segment Information, and Item 7. 10-K, Item 1

Headquarters: Milwaukee, WI
Next results: around Jan 4, 2027

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The biggest changes in the 10-K filed 2026-02-20, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.

Operating margin

25.0% → 22.9% (-2.1 pts) Big change FY to 2025-12-31 vs 2024-12-31

“These increases in other operating expenses were partially offset by a $12.8 million decrease in benefit costs.”
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“Operating income at the non-utility energy infrastructure segment increased $12.3 million during 2025, compared with 2024, driven by these items at WECI:”
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Revenue

+14.0% Big change FY to 2025-12-31 vs 2024-12-31

“A $9.1 million increase in property and revenue taxes during 2025, compared with 2024, driven by a 2024 adjustment related to a sales tax audit at WE.”
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“A $5.2 million increase in property and revenue taxes, driven by the year-over-year impact from a positive resolution of a use”
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Cash from operations

+5.2% FY to 2025-12-31 vs 2024-12-31

“Net cash provided by operating activities increased $167.6 million during 2025, compared with 2024, driven by:”
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“These increases in net cash provided by operating activities were partially offset by:”
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Net income

+2.0% FY to 2025-12-31 vs 2024-12-31

“A $191.7 million increase in net income attributed to common shareholders at the Wisconsin segment, driven by higher margins from the impact of the Wisconsin rate orders approved by the PSCW, effective January 1, 2025, higher retail sales volumes, and an increase in certain income tax benefits.”
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“A $30.3 million increase in net income attributed to common shareholders at the non-utility energy infrastructure segment, driven by an increase in PTCs from our non-utility renewable generating facilities related to the acquisition of additional renewable generation facilities in the fourth quarter of 2024 and the first quarter of 2025.”
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Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗

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