This post was originally published on this site
In the third quarter, the company’s earnings and revenues outperformed estimates. WEC has been adding electric and natural gas customers, driven by higher demand for its services. Plus, the firm targets a $17 billion plus investment between 2022-2026 to strengthen its infrastructure and add renewable assets to its portfolio.
WEC’s balance sheet does not look favorable as the company has $2 billion in short-term debt with only $26 million in cash. Earnings have grown an average of 7.4% per year over the past five years and are expected to fall 10.5% year over year in the current quarter.
