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Wisconsin Electric Power (WELPP) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 30, 2026 · Wisconsin Electric Power (WELPP) Q3 2026 earnings results →
Q3 2026 Revenue up 14% year over year to $1.4B · 18¢ of every $1 of revenue kept as net profit · operating margin 29.1%
Wisconsin Electric Power made $1.4B in Q3 2026 (+14% Y/Y). Operating margin 29.1%, net earnings $252M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.4B in Q3 2026, up 14% year over year and up 29% from the previous quarter.
Operating profit was $0.40B, a 29.1% margin (up 0.9 points year over year). Of the extra revenue versus Q3 2025, 35% reached operating profit, above the 28% margin then. Total costs grew 12% against revenue growth of 14%. The fastest-growing cost line was Cost of revenue (+13%). Net earnings were $0.25B, up 28% year over year. The effective tax rate was 14.9%.
Operating cash flow was $0.55B (up 28% year over year), 217% of net earnings. Non-cash charges added back $0.17B of depreciation and amortization. Working capital and other items added $0.12B. Capital expenditures of $0.78B exceeded it, leaving free cash flow of −$0.23B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 30, 2026 | $1.4B | +14% | 29.1% | $252M | $546M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $1.1B | +5% | 23.8% | $150M | $297M |
| Q1 2026 | 10-Q | May 7, 2026 | $1.3B | +12% | 27.1% | $235M | $481M |
| Q4 2025 | 10-K | Feb 20, 2026 | $1.1B | +15% | 21.5% | $115M | $133M |
| Q3 2025 | 10-Q | Oct 31, 2025 | $1.2B | +11% | 28.2% | $197M | $427M |
| Q2 2025 | 10-Q | Aug 1, 2025 | $1.0B | +12% | 24.6% | $118M | $176M |
| Q1 2025 | 10-Q | May 7, 2025 | $1.2B | +14% | 29.3% | $196M | $392M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Wisconsin Electric Power
In this report, when we refer to "us," "we," "our," or "ours," we are referring to Wisconsin Electric Power Company. The term "utility" refers to our regulated activities, while the term "non-utility" refers to our activities that are not regulated. References to "Notes" are to the Notes to Consolidated Financial Statements included in this Annual Report on Form 10-K. We are a subsidiary of WEC Energy Group and were incorporated in the state of Wisconsin in 1896. We maintain our principal executive offices in Milwaukee, Wisconsin and serve customers in Wisconsin. We conduct our business primarily through our utility reportable segment.
In its own words, from its 10-K, filed Feb 20, 2026.
Wisconsin Electric Power against its Electric Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +14% against the peers' median +14%. Operating margin: 29.1% against the peers' median 29.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| WELPP Wisconsin Electric Power | Q3 2026 | $1.4B | +14% | 29.1% |
| Southern Power | Q3 2026 | $8.8B | +13% | 33.9% |
| NEE NextEra Energy | Q3 2026 | $8.1B | +2% | 32.4% |
| Florida Power & Light | Q2 2026 | $7.5B | +12% | 29.7% |
| CEG Constellation Energy | Q2 2026 | $7.5B | +23% | 7.7% |
| NRG NRG Energy | Q2 2026 | $7.5B | +11% | 13.0% |
| AEP Texas | Q3 2026 | $6.8B | +14% | 26.5% |
| VST Vistra | Q3 2026 | $6.3B | +28% | 26.9% |
| D Dominion Energy | Q3 2026 | $5.6B | +24% | 32.8% |
Source: Wisconsin Electric Power 10-Q on SEC EDGAR · CIK 107815 · Electric Services
Guidance and outlook
More on WELPP
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results