WEC Energy Group, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Financial Guidance for the First Quarter and Full Year of 2018
For the full year, the company reported Operating revenues of $7,648.5 million compared to $7,472.3 million a year ago. Operating income was $1,785.2 million compared to $1,682.1 million a year ago. Income before income taxes was $1,588.4 million compared to $1,506.7 million a year ago. Net income attributed to common shareholders was $1,203.7 million compared to $939.0 million a year ago. Diluted earnings per share were $3.79 compared to $2.96 a year ago. Net cash provided by operating activities was $2,079.6 million compared to $2,103.5 million a year ago. Capital expenditures were $1,959.5 million compared to $1,423.7 million a year ago. Adjusted net income was $997.0 million or $3.14 per diluted share compared to $941.1 million or $2.97 per diluted share a year ago.
For the first quarter of 2018, company expects earnings to be in the range of $1.14 per share to $1.16 per share.
The company provided earnings guidance for the full year of 2018. For the period, the company expects earnings guidance in the range of $3.26 to $3.30 per share in line with the long-term goal of growing earnings at a rate of 5% to 7% per year. Company expects effective income tax rate to be between 22% and 23%.