WEC FY 2021 Earnings Report — WEC Energy Group, Inc. Revenue & Financial Results | Market Cap Arena

WEC Energy Group, Inc.WEC

FY 2021 Earnings

Reported February 24, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$8.3B	—	$7.2B	—	14.8%
Op. Income	$1.7B	—	$1.7B	—	0.5%
Gross Margin	36.1%	—	39.9%	—	-3.8pp
Net Margin	15.7%	—	16.6%	—	-0.9pp
EPS (Diluted)	$4.11	—	$3.79	—	8.4%
Free Cash Flow	-$220M	—	-$43M	—	-414.3%

Revenue Flow

Item	Amount
REVENUE	$8.3B
Cost of Revenue	$5.3B
GROSS PROFIT	$3.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.3B
Operating Expenses	$1.3B
Cost & Expenses	$6.6B
OPERATING INCOME	$1.7B
Interest Income	$0
Interest Expense	$471M
Other Income/Expenses	-$216M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$200M
Net Income from Continuing Ops	$1.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.3B
D&A	$1.1B
EBIT	$2.0B
EBITDA	$3.0B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$8.3B
Cost of Revenue	$5.3B
GROSS PROFIT	$3.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.3B
Operating Expenses	$1.3B
Cost & Expenses	$6.6B
OPERATING INCOME	$1.7B
Interest Income	$0
Interest Expense	$471M
Other Income/Expenses	-$216M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$200M
Net Income from Continuing Ops	$1.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.3B
D&A	$1.1B
EBIT	$2.0B
EBITDA	$3.0B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$1.3B
Depreciation & Amortization	$1.1B
Stock-Based Compensation	$0
Deferred Income Tax	$151M
Other Non-Cash Items	-$184M
Change in Working Capital	-$307M
OPERATING CASH FLOW	$2.0B
Capital Expenditure	-$2.3B
Acquisitions (Net)	-$120M
Purchases of Investments	$0
Sales/Maturities of Investments	$19M
Other Investing Activities	$42M
NET CASH FROM INVESTING	-$2.3B
Net Debt Issuance	$1.2B
Common Stock Repurchased	-$33M
Common Dividends Paid	-$855M
Other Financing Activities	-$61M
NET CASH FROM FINANCING	$294M
FREE CASH FLOW	-$220M
Net Change in Cash	$15M

Balance Sheet

Item	Amount
Cash & Equivalents	$16M
Short-Term Investments	$0
Net Receivables	$1.5B
Inventory	$636M
Other Current Assets	$253M
TOTAL CURRENT ASSETS	$2.7B
PP&E (Net)	$27.0B
Goodwill	$3.1B
Intangible Assets	$0
Long-Term Investments	$1.8B
Tax Assets	$0
Other Non-Current Assets	$4.5B
TOTAL NON-CURRENT ASSETS	$36.3B
TOTAL ASSETS	$39.0B
Account Payables	$1.0B
Short-Term Debt	$2.0B
Deferred Revenue	$0
Other Current Liabilities	$681M
TOTAL CURRENT LIABILITIES	$3.8B
Long-Term Debt	$13.5B
Deferred Revenue NC	$389M
Deferred Tax Liabilities	$4.3B
Other Non-Current Liabilities	$5.9B
TOTAL NON-CURRENT LIABILITIES	$24.1B
TOTAL LIABILITIES	$27.9B
Common Stock	$3M
Additional Paid-In Capital	$4.1B
Retained Earnings	$6.8B
Treasury Stock	$0
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$10.9B
Minority Interest	$170M
TOTAL EQUITY	$11.1B
TOTAL LIABILITIES & EQUITY	$39.0B
Total Debt	$15.6B
Net Debt	$15.6B