WEC Energy Group (WEC) Revenue — Quarter Ended Sep 30, 2023
Revenue for the quarter rose compared to the immediately preceding period, but declined relative to the same quarter one year earlier. The sequential increase reversed a prior period decrease, while the year-over-year comparison continued a downward trend from the prior year.
Key takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
Revenue for the quarter rose compared to the immediately preceding period, but declined relative to the same quarter one year earlier. The sequential increase reversed a prior period decrease, while the year-over-year comparison continued a downward trend from the prior year.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2B
Revenue reported for this quarter.
Quarter-over-quarter
+7.0%
Change from the immediately preceding quarter.
Year-over-year
-2.3%
Change from the comparable year-ago quarter.
Trailing four quarters
$9.2B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $2.6B | +16.2% |
| Mar 31, 2023 | $2.9B | -0.7% |
| Jun 30, 2023 | $1.8B | -14.0% |
| Sep 30, 2023 | $2B | -2.3% |
Revenue performance
The reported revenue moved higher from the prior quarter, marking a recovery after the previous period's decline. However, compared with the same quarter a year ago, revenue was lower, indicating a year-over-year contraction.
Quarterly comparison
Sequentially, revenue increased from the preceding quarter, which had itself decreased from the quarter before. On a year-over-year basis, revenue fell relative to the same quarter in the prior year.
What to watch
Monitor whether the sequential revenue growth can be sustained in the coming quarters, especially given the ongoing year-over-year decline.