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Income Statement
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WEC ENERGY GROUP, INC. (WEC)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15
   10-K10-K10-K10-K10-K10-K10-K10-K
Revenues:  
    Non-Utility Energy Infrastructure  590.0452.8448.5495.9468.4446.3423.340.0
    Corporate and Other  0.50.52.24.48.713.723.347.3
    Other  9,006.97,862.76,791.07,022.87,202.47,188.57,025.75,838.8
Total revenues  9,597.48,316.07,241.77,523.17,679.57,648.57,472.35,926.1
            Revenue growth   [+]15.4%14.8%-3.7%-2.0%0.4%2.4%26.1%18.6%
Cost of goods sold   [+]6,296.95,316.54,351.74,863.65,168.44,878.94,818.73,949.4
Gross profit  3,300.52,999.52,890.02,659.52,511.12,769.62,653.61,976.7
            Gross margin  34.4%36.1%39.9%35.4%32.7%36.2%35.5%33.4%
Selling, general and administrative   [+]253.7210.3208.0201.8196.9194.9194.7164.4
Equity in earnings     127.6136.7154.3146.596.1
EBITDA   [+]3,046.82,789.22,682.02,585.32,450.92,729.02,605.41,930.1
            EBITDA margin  31.7%33.5%37.0%34.4%31.9%35.7%34.9%32.6%
Depreciation and amortization  1,122.61,074.3975.9926.3845.8798.6762.6583.5
EBIT   [+]1,924.21,714.91,706.11,659.01,605.11,930.41,842.81,346.6
            EBIT margin  20.0%20.6%23.6%22.1%20.9%25.2%24.7%22.7%
Interest expense  515.1471.1493.7501.5445.1415.7402.7331.4
Other income (expense), net  323.5255.0216.9102.270.373.766.658.9
Pre-tax income  1,732.61,498.81,429.31,259.71,230.31,588.41,506.71,074.1
Income taxes  322.9200.3227.9125.0169.8383.5566.5433.8
            Tax rate  18.6%13.4%15.9%9.9%13.8%24.1%37.6%40.4%
Minority interest  -0.43.0-0.30.5    
Net income  1,408.11,300.31,199.91,134.01,059.31,203.7939.0638.5
            Net margin  14.7%15.6%16.6%15.1%13.8%15.7%12.6%10.8%
   
Basic EPS   [+]$4.46$4.12$3.80$3.60$3.36$3.81$2.98$2.36
Diluted EPS   [+]$4.45$4.11$3.79$3.58$3.34$3.79$2.96$2.34
   
Dividends per share   [+]$2.91$2.71$2.53$2.36$2.21$2.08$1.98$1.74
   
Shares outstanding (basic)   [+]315.4315.4315.4315.4315.5315.6315.6271.1
Shares outstanding (diluted)   [+]316.1316.3316.5316.7316.9317.2316.9272.7
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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