WEC Energy Group Inc. has released its financial results for the first quarter of 2025 through its subsidiary, Minnesota Energy Resources Corporation. The company reported an increase in operating revenues, reaching $142.3 million compared to $118.6 million in the same period of 2024. This marks a significant rise in revenue year-over-year. The net income for the quarter was reported at $22.7 million, slightly down from $23.0 million the previous year. Operating income also saw a minor decrease, recorded at $33.3 million compared to $33.5 million in the first quarter of 2024. The results also highlighted an increase in operating expenses, which totaled $109.0 million in 2025, up from $85.1 million in 2024. This increase was primarily driven by higher costs of sales, which rose to $78.6 million from $60.6 million in the previous year. Additionally, the company experienced a net cash provided by operating activities of $46.3 million, which is an improvement from $31.6 million reported for the same period in 2024. Investing activities included capital expenditures of $7.7 million, up from $5.1 million in the previous year. These financial figures reflect the company's performance for the quarter ended March 31, 2025, providing insights into its operational and financial dynamics during this period.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.