WEC FY 2022 Earnings Report — WEC Energy Group, Inc. Revenue & Financial Results | Market Cap Arena

WEC Energy Group, Inc.WEC

FY 2022 Earnings

Reported February 23, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$9.6B	—	$8.3B	—	15.4%
Op. Income	$1.9B	—	$1.7B	—	12.2%
Gross Margin	34.4%	—	36.1%	—	-1.7pp
Net Margin	14.7%	—	15.7%	—	-1.0pp
EPS (Diluted)	$4.45	—	$4.11	—	8.3%
Free Cash Flow	-$254M	—	-$220M	—	-15.5%

Revenue Flow

Item	Amount
REVENUE	$9.6B
Cost of Revenue	$6.3B
GROSS PROFIT	$3.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.4B
Operating Expenses	$1.4B
Cost & Expenses	$7.7B
OPERATING INCOME	$1.9B
Interest Income	$1M
Interest Expense	$515M
Other Income/Expenses	-$192M
INCOME BEFORE TAX	$1.7B
Income Tax Expense	$323M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.4B
D&A	$1.1B
EBIT	$2.2B
EBITDA	$3.4B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$9.6B
Cost of Revenue	$6.3B
GROSS PROFIT	$3.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.4B
Operating Expenses	$1.4B
Cost & Expenses	$7.7B
OPERATING INCOME	$1.9B
Interest Income	$1M
Interest Expense	$515M
Other Income/Expenses	-$192M
INCOME BEFORE TAX	$1.7B
Income Tax Expense	$323M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.4B
D&A	$1.1B
EBIT	$2.2B
EBITDA	$3.4B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$1.4B
Depreciation & Amortization	$1.1B
Stock-Based Compensation	$0
Deferred Income Tax	$280M
Other Non-Cash Items	-$411M
Change in Working Capital	-$341M
OPERATING CASH FLOW	$2.1B
Capital Expenditure	-$2.3B
Acquisitions (Net)	-$428M
Purchases of Investments	$0
Sales/Maturities of Investments	$15M
Other Investing Activities	$85M
NET CASH FROM INVESTING	-$2.6B
Net Debt Issuance	$1.7B
Common Stock Repurchased	-$69M
Common Dividends Paid	-$918M
Other Financing Activities	$9M
NET CASH FROM FINANCING	$676M
FREE CASH FLOW	-$254M
Net Change in Cash	$95M

Balance Sheet

Item	Amount
Cash & Equivalents	$29M
Short-Term Investments	$0
Net Receivables	$1.8B
Inventory	$807M
Other Current Assets	$262M
TOTAL CURRENT ASSETS	$3.2B
PP&E (Net)	$29.1B
Goodwill	$3.1B
Intangible Assets	$0
Long-Term Investments	$1.9B
Tax Assets	$0
Other Non-Current Assets	$4.6B
TOTAL NON-CURRENT ASSETS	$38.7B
TOTAL ASSETS	$41.9B
Account Payables	$1.2B
Short-Term Debt	$2.5B
Deferred Revenue	$0
Other Current Liabilities	$812M
TOTAL CURRENT LIABILITIES	$4.6B
Long-Term Debt	$14.6B
Deferred Revenue NC	$371M
Deferred Tax Liabilities	$4.6B
Other Non-Current Liabilities	$5.9B
TOTAL NON-CURRENT LIABILITIES	$25.6B
TOTAL LIABILITIES	$30.3B
Common Stock	$3M
Additional Paid-In Capital	$4.1B
Retained Earnings	$7.3B
Treasury Stock	$0
Accum. Other Comp. Income	-$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$11.4B
Minority Interest	$209M
TOTAL EQUITY	$11.6B
TOTAL LIABILITIES & EQUITY	$41.9B
Total Debt	$17.4B
Net Debt	$17.3B