# EDGAR Filing Document

**Accession Number:** 0000783325
**File Stem:** 0000783325-25-000027
**Filing Date:** 2025-7
**Character Count:** 21758
**Document Hash:** d1608e85ff8e8a53fed4ed1ce8cc43e1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000783325-25-000027.hdr.sgml**: 20250730

**ACCESSION NUMBER**: 0000783325-25-000027

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250730

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250730

**DATE AS OF CHANGE**: 20250730

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WEC ENERGY GROUP, INC.
- **CENTRAL INDEX KEY:** 0000783325
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC & OTHER SERVICES COMBINED [4931]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 391391525
- **STATE OF INCORPORATION:** WI
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-09057
- **FILM NUMBER:** 251163962

**BUSINESS ADDRESS:**
- **STREET 1:** 231 W MICHIGAN ST
- **STREET 2:** P O BOX 1331
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53201
- **BUSINESS PHONE:** 414-221-2345

**MAIL ADDRESS:**
- **STREET 1:** 231 WEST MICHIGAN STREET
- **STREET 2:** P O BOX 1331
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53201

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WISCONSIN ENERGY CORP
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'? wec-20250730

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of report (Date of earliest event reported):

**July 30, 2025** 

**<u>____________________</u>**

---

| | | |
|:---|:---|:---|
| Commission <br>File Number | Registrant; State of Incorporation;<br>Address; and Telephone Number | IRS Employer<br>Identification No. |
| 001-09057 | **WEC ENERGY GROUP, INC.** | 39-1391525 |

---

(A Wisconsin Corporation)

231 West Michigan Street

P.O. Box 1331

Milwaukee, WI 53201

(414) 221-2345

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, $.01 Par Value | WEC | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION**

On Wednesday, July 30, 2025, WEC Energy Group, Inc. issued a press release announcing its financial results for the quarter and six months ended June 30, 2025. A copy of the press release is being furnished to the Securities and Exchange Commission as <u>[Exhibit 99.1](a2025q2wecearningsreleasee.htm)</u> attached hereto and incorporated herein by reference.

**ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS**

(d)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits

&nbsp;&nbsp;&nbsp;&nbsp;<u>[99.1](a2025q2wecearningsreleasee.htm)</u>&nbsp;&nbsp;&nbsp;&nbsp;<u>[Press Release dated July 30, 2025](a2025q2wecearningsreleasee.htm)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;104&nbsp;&nbsp;&nbsp;&nbsp;Cover Page Interactive Data File (embedded within the Inline XBRL document).

------

---

| | |
|:---|:---|
| **SIGNATURES** | **SIGNATURES** |
| Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. | Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. |
|  | **WEC ENERGY GROUP, INC.** |
|  | (Registrant) |
|  | /s/ WILLIAM J. GUC |
| July 30, 2025 | William J. Guc, Vice President and Controller |

---

## Exhibit 99.1

**Exhibit 99.1**

![wecmediaheader.jpg](wecmediaheader.jpg)

From:&nbsp;&nbsp;&nbsp;&nbsp;Brendan Conway (media)

414-221-4444

<u>brendan.conway@wecenergygroup.com</u>

&nbsp;&nbsp;&nbsp;&nbsp;Beth Straka (investment community)

414-221-4639

<u>beth.straka@wecenergygroup.com</u>

July 30, 2025&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**WEC Energy Group reports second-quarter results** 

MILWAUKEE – WEC Energy Group (NYSE: WEC) today reported net income of $245.4 million, or 76 cents per share, for the second quarter of 2025 - up from $211.3 million, or 67 cents per share, in last year's second quarter.

For the first six months of 2025, the company recorded net income of $969.6 million, or $3.02 per share – up from $833.6 million, or $2.64 per share, in the corresponding period a year ago.

Consolidated revenues totaled $5.2 billion, up $706.8 million from the first half of 2024.

"A warm start to the summer, steady execution of our capital plan and a continued focus on operating efficiency were major factors that shaped a strong quarter," said Scott Lauber, president and CEO.

Retail deliveries of electricity – excluding the iron ore mine in Michigan's Upper Peninsula – were up by 1.0 percent in the second quarter of 2025, compared to the second quarter last year.

Electricity consumption by small commercial and industrial customers was 0.6 percent higher. Electricity use by large commercial and industrial customers – excluding the iron ore mine – increased by 0.8 percent.

Residential electricity use rose by 1.6 percent.

On a weather-normal basis, retail deliveries of electricity during the second quarter of this year – excluding the iron ore mine – increased by 1.1 percent.

The company is reaffirming its 2025 earnings guidance of $5.17 to $5.27 per share. This assumes normal weather for the remainder of the year.

------

**Exhibit 99.1**

Earnings per share listed in this news release are on a fully diluted basis.

**Conference call**

A conference call is scheduled for 1 p.m. Central time, Wednesday, July 30. The call will review 2025 second-quarter earnings and the company's outlook for the future.

All interested parties, including stockholders, news media and the general public, are invited to listen. Access the call at 888-330-2443 up to 15 minutes before it begins. The number for international callers is 240-789-2728. The conference ID is 3088105.

Conference call access also is available at <u>wecenergygroup.com</u>. Under 'Webcasts,' select 'Q2 Earnings.' In conjunction with this earnings announcement, WEC Energy Group will post on its website a package of detailed financial information on its second-quarter performance. The materials will be available at 6:30 a.m. Central time, Wednesday, July 30.

**Replay**

A replay will be available on the website and by phone. Access to the webcast replay will be available on the website about two hours after the call. Access to a phone replay also will be available approximately two hours after the call and remain accessible through Aug. 13, 2025. Domestic callers should dial 800-770-2030. International callers should dial 647-362-9199. The replay conference ID is 3088105.

*WEC Energy Group (NYSE: WEC), based in Milwaukee, is one of the nation's premier energy companies, serving 4.7 million customers in Wisconsin, Illinois, Michigan and Minnesota.* 

*The company's principal utilities are We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy Resources. Another major subsidiary, We Power, designs, builds and owns electric generating plants. In addition, WEC Infrastructure LLC owns a fleet of renewable generation facilities in states ranging from South Dakota to Texas.*

*WEC Energy Group (<u>wecenergygroup.com</u>) is a Fortune 500 company and a component of the S&P 500. The company has approximately 33,000 stockholders of record, 7,000 employees and more than $48 billion of assets.*

**Forward-looking statements**

Certain statements contained in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based upon management's current expectations and are subject to risks and uncertainties that could cause our actual results to differ materially from those contemplated in the statements. Readers are cautioned not to place undue reliance on these statements. Forward-looking statements include, among other things, statements concerning management's expectations and projections regarding earnings, earnings growth rates, dividend payments and future results. In some cases, forward-looking statements may be identified by reference to a future period or periods or by the use of forward-looking terminology such as

------

**Exhibit 99.1**

"anticipates," "believes," "estimates," "expects," "forecasts," "guidance," "intends," "may," "objectives," "plans," "possible," "potential," "projects," "should," "targets," "will" or similar terms or variations of these terms.

Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements include, but are not limited to: general economic conditions, including business and competitive conditions in the company's service territories; timing, resolution and impact of rate cases and other regulatory decisions, including rider reconciliations; the company's ability to continue to successfully integrate the operations of its subsidiaries; availability of the company's generating facilities and/or distribution systems; unanticipated changes in fuel and purchased power costs; key personnel changes; unusual, varying or severe weather conditions; continued industry restructuring and consolidation; continued advances in, and adoption of, new technologies that produce power or reduce power consumption; energy and environmental conservation efforts; electrification initiatives, mandates and other efforts to reduce the use of natural gas; the company's ability to successfully acquire and/or dispose of assets and projects and to execute on its capital plan; terrorist, physical or cyber-security threats or attacks and data security breaches; construction risks; labor disruptions; equity and bond market fluctuations; changes in the company's and its subsidiaries' ability to access the capital markets; changes in tax legislation or our ability to use certain tax benefits and carryforwards; changes in and uncertainty around federal, state, and local legislation and regulation, including changes resulting from the current U.S. presidential administration, as well as in rate-setting policies or procedures and environmental standards, in the enforcement of these laws and regulations and in the interpretation of regulations or permit conditions by regulatory agencies; supply chain disruptions; inflation; political or geopolitical developments impacting the global economy, supply chain and fuel prices generally, including as a result of changes to U.S. and foreign government trade policies or from ongoing, escalating, or expanding regional or international conflicts; the impact from any health crises, including epidemics and pandemics; current and future litigation and regulatory investigations, proceedings or inquiries; the ability of the Company to successfully and/or timely adopt new technologies, including artificial intelligence; changes in accounting standards; the financial performance of the American Transmission Company as well as projects in which the company's energy infrastructure business invests; the ability of the company to obtain additional generating capacity at competitive prices; goodwill and its possible impairment; and other factors described under the heading "Factors Affecting Results, Liquidity and Capital Resources" in Management's Discussion and Analysis of Financial Condition and Results of Operations and under the headings "Cautionary Statement Regarding Forward-Looking Information" and "Risk Factors" contained in the company's Form 10-K for the year ended December 31, 2024, and in subsequent reports filed with the Securities and Exchange Commission. Except as may be required by law, the company expressly disclaims any obligation to publicly update or revise any forward-looking information.

*Tables follow*

------

**Exhibit 99.1**

**WEC ENERGY GROUP, INC.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CONDENSED CONSOLIDATED INCOME STATEMENTS (Unaudited)** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| **CONDENSED CONSOLIDATED INCOME STATEMENTS (Unaudited)** | **June 30** | **June 30** | **June 30** | **June 30** |
| ***(in millions, except per share amounts)*** | **2025** | **2024** | **2025** | **2024** |
| **Operating revenues** | $**2009.5** | $1772.0 | $**5159.0** | $4452.2 |
| **Operating expenses** |  |  |  |  |
| Cost of sales | **570.5** | 469.7 | **1736.2** | 1396.8 |
| Other operation and maintenance | **596.2** | 533.4 | **1204.2** | 1064.2 |
| Depreciation and amortization | **368.9** | 336.6 | **728.8** | 670.0 |
| Property and revenue taxes | **69.0** | 67.5 | **147.4** | 143.0 |
| **Total operating expenses** | **1604.6** | 1407.2 | **3816.6** | 3274.0 |
| **Operating income** | **404.9** | 364.8 | **1342.4** | 1178.2 |
| Equity in earnings of transmission affiliates | **51.9** | 46.8 | **105.5** | 91.6 |
| Other income, net | **26.5** | 40.6 | **44.6** | 84.7 |
| Interest expense | **220.8** | 200.6 | **443.8** | 392.6 |
| **Other expense** | **(142.4)** | (113.2) | **(293.7)** | (216.3) |
| Income before income taxes | **262.5** | 251.6 | **1048.7** | 961.9 |
| Income tax expense | **19.5** | 41.6 | **80.2** | 129.3 |
| **Net income** | **243.0** | 210.0 | **968.5** | 832.6 |
| Preferred stock dividends of subsidiary | **0.3** | 0.3 | **0.6** | 0.6 |
| Net loss attributed to noncontrolling interests | **2.7** | 1.6 | **1.7** | 1.6 |
| **Net income attributed to common shareholders** | $**245.4** | $211.3 | $**969.6** | $833.6 |
| **Earnings per share** |  |  |  |  |
| Basic | $**0.77** | $0.67 | $**3.04** | $2.64 |
| Diluted | $**0.76** | $0.67 | $**3.02** | $2.64 |
| **Weighted average common shares outstanding** |  |  |  |  |
| Basic | **320.3** | 315.9 | **319.3** | 315.8 |
| Diluted | **322.2** | 316.2 | **320.7** | 316.1 |
| **Dividends per share of common stock** | $**0.8925** | $0.8350 | $**1.7850** | $1.6700 |

---

------

**Exhibit 99.1**

**WEC ENERGY GROUP, INC.**

---

| | | |
|:---|:---|:---|
| **CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)**<br>***(in millions, except share and per share amounts)*** | **June 30, 2025** | **December 31, 2024** |
| **Assets** | | |
| **Current assets** | | |
| Cash and cash equivalents | $**23.0** | $9.8 |
| Accounts receivable and unbilled revenues, net of reserves of $142.2 and $162.8, respectively | **1496.4** | 1669.3 |
| Materials, supplies, and inventories | **703.0** | 813.2 |
| Prepaid taxes | **209.0** | 214.9 |
| Other prepayments | **51.4** | 82.6 |
| Other | **116.3** | 121.9 |
| **Current assets** | **2599.1** | 2911.7 |
| **Long-term assets** |  |  |
| Property, plant, and equipment, net of accumulated depreciation and amortization of $12,025.9 and $11,611.9, respectively | **36060.8** | 34645.4 |
| Regulatory assets (June 30, 2025 and December 31, 2024 include $72.2 and $76.5, respectively, related to WEPCo Environmental Trust Finance I, LLC) | **3231.8** | 3339.7 |
| Equity investment in transmission affiliates | **2200.1** | 2108.9 |
| Goodwill | **3052.8** | 3052.8 |
| Pension and OPEB assets | **1000.4** | 968.5 |
| Other | **379.3** | 336.2 |
| **Long-term assets** | **45925.2** | 44451.5 |
| **Total assets** | $**48524.3** | $47363.2 |
| **Liabilities and Equity** |  |  |
| **Current liabilities** |  |  |
| Short-term debt | $**810.3** | $1116.6 |
| Current portion of long-term debt (June 30, 2025 and December 31, 2024 include $9.2, related to WEPCo Environmental Trust Finance I, LLC) | **2250.4** | 1729.0 |
| Accounts payable | **816.5** | 1137.1 |
| Other | **820.4** | 859.2 |
| **Current liabilities** | **4697.6** | 4841.9 |
| **Long-term liabilities** |  |  |
| Long-term debt (June 30, 2025 and December 31, 2024 include $71.9 and $76.4, respectively, related to WEPCo Environmental Trust Finance I, LLC) | **17110.4** | 17178.1 |
| Finance lease obligations | **361.8** | 303.3 |
| Deferred income taxes | **5739.5** | 5514.7 |
| Deferred revenue, net | **323.9** | 334.6 |
| Regulatory liabilities | **4039.0** | 3958.0 |
| Intangible liabilities | **609.7** | 566.8 |
| Environmental remediation liabilities | **438.9** | 445.8 |
| Asset retirement obligations | **616.4** | 580.0 |
| Other | **917.0** | 838.1 |
| **Long-term liabilities** | **30156.6** | 29719.4 |
| Commitments and contingencies |  |  |
| **Common shareholders' equity** |  |  |
| Common stock – $0.01 par value; 650,000,000 shares authorized; 321,866,395 and 317,680,855 shares outstanding, respectively | **3.2** | 3.2 |
| Additional paid in capital | **4743.1** | 4315.8 |
| Retained earnings | **8484.7** | 8083.8 |
| Accumulated other comprehensive loss | **(7.9)** | (7.8) |
| **Common shareholders' equity** | **13223.1** | 12395.0 |
| Preferred stock of subsidiary | **30.4** | 30.4 |
| Noncontrolling interests | **416.6** | 376.5 |
| **Total liabilities and equity** | $**48524.3** | $47363.2 |

---

------

**Exhibit 99.1**

**WEC ENERGY GROUP, INC.**

---

| | | |
|:---|:---|:---|
| | **Six Months Ended** | **Six Months Ended** |
| | **June 30** | **June 30** |
| **CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)**<br>***(in millions)*** | **2025** | **2024** |
| **Operating activities** |  |  |
| Net income | $**968.5** | $832.6 |
| Reconciliation to cash provided by operating activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | **728.8** | 670.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes and ITCs, net | **220.0** | 321.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Contributions and payments related to pension and OPEB plans | **(7.1)** | (7.5) |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity income in transmission affiliates, net of distributions | **(3.4)** | (19.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in – |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable and unbilled revenues, net | **136.4** | 254.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials, supplies, and inventories | **110.2** | 79.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current assets | **65.4** | 49.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | **(172.1)** | (90.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Customer credit balances | **(38.4)** | (57.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current liabilities | **(6.4)** | (53.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other, net | **14.0** | (78.3) |
| **Net cash provided by operating activities** | **2015.9** | 1901.0 |
| **Investing activities** |  |  |
| Capital expenditures | **(1530.5)** | (1138.4) |
| Acquisition of Hardin Solar III Energy Center, net of cash acquired of $0.2 | **(406.1)** |  |
| Acquisition of West Riverside Energy Center | **—** | (98.2) |
| Capital contributions to transmission affiliates | **(87.8)** | (30.3) |
| Proceeds from the sale of investments held in rabbi trust | **16.9** | 14.8 |
| Reimbursement for American Transmission Company LLC's transmission infrastructure upgrades | **39.7** | 6.2 |
| Other, net | **(5.0)** | (4.9) |
| **Net cash used in investing activities** | **(1972.8)** | (1250.8) |
| **Financing activities** |  |  |
| Exercise of stock options | **24.7** | 4.7 |
| Issuance of common stock, net | **398.8** | 38.2 |
| Purchase of common stock | **(1.3)** | (3.2) |
| Dividends paid on common stock | **(568.7)** | (527.2) |
| Issuance of long-term debt | **1025.0** | 2074.2 |
| Retirement of long-term debt | **(567.6)** | (785.4) |
| Change in commercial paper | **(308.0)** | (1260.4) |
| Purchase of additional ownership interest in Samson I Solar Energy Center LLC from noncontrolling interest | **—** | (28.1) |
| Payments for debt extinguishment and issuance costs | **(16.7)** | (23.6) |
| Other, net | **(2.3)** | (1.7) |
| **Net cash used in financing activities** | **(16.1)** | (512.5) |
| **Net change in cash, cash equivalents, and restricted cash** | **27.0** | 137.7 |
| Cash, cash equivalents, and restricted cash at beginning of period | **42.2** | 165.2 |
| **Cash, cash equivalents, and restricted cash at end of period** | $**69.2** | $302.9 |

---

<br>