Blog: WEC ENERGY GROUP, INC. : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K) –


WEC Energy Group, Inc. (the “Company”) today is reaffirming its 2023 annual
earnings guidance of $4.58 to $4.62 per share, assuming normal weather for the
remainder of the year. However, in light of one of the warmest winters in
history in the Upper Midwest, the Company is lowering its first quarter guidance
to a range of $1.56 to $1.58 per share. Previous first quarter guidance was
$1.68 to $1.72 per share. Both the annual and first quarter guidance assumes no
significant negative net impact related to property damage from the wind event
at the Samson I Solar Energy Center (“Samson I”) described below.

The Company purchased an 80% ownership interest in Samson I, which is a 250
megawatt solar project located in northeastern Texas, on February 24, 2023. In
early March, Samson I was damaged by a wind storm. Certain sections across 40%
of the project have incurred some amount of damage. We are continuing to assess
the extent of the damage at the site.

Per share amounts provided in this report are on a fully diluted basis.

Investor Presentation Slides

Representatives of the Company will be participating in upcoming meetings with
investors. Attached as Exhibit 99.1 are the presentation slides to be used at
such meetings.


(d) Exhibits

         99.1          Presentation slides

       104           Cover Page Interactive Data File (embedded within the Inline XBRL document).

Forward-Looking Statements

Certain statements contained in this report are “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. These statements are based upon
management’s current expectations and are subject to risks and uncertainties
that could cause our actual results to differ materially from those contemplated
in the statements. Readers are cautioned not to place undue reliance on these
statements. Forward-looking statements include, among other things, statements
concerning management’s expectations and projections regarding earnings and
future results. In some cases, forward-looking statements may be identified by
reference to a future period or periods or by the use of forward- looking
terminology such as “anticipates,” “believes,” “estimates,” “expects,”
“forecasts,” “guidance,” “intends,” “may,” “objectives,” “plans,” “possible,”
“potential,” “projects,” “should,” “targets,” “will” or similar terms or
variations of these terms.

In addition to the matters identified in this report, factors that could cause
actual results to differ materially from those contemplated in any
forward-looking statements include, but are not limited to: general economic
conditions, including business and competitive conditions in the Company’s
service territories; timing, resolution and impact of rate cases and other
regulatory decisions; the Company’s ability to continue to successfully
integrate the operations of its subsidiaries; availability of the Company’s
generating facilities and/or distribution systems; unanticipated changes in fuel
and purchased power costs; key personnel changes; varying and severe weather
conditions; continued industry restructuring and consolidation; continued
advances in, and adoption of, new technologies that



produce power or reduce power consumption; energy and environmental conservation
efforts; natural gas reduction or electrification initiatives, mandates or other
similar efforts; the Company’s ability to successfully acquire and/or dispose of
assets and projects and to execute on its capital plan; cyber-security threats
and data security breaches; construction risks; equity and bond market
fluctuations; changes in the Company’s and its subsidiaries’ ability to access
the capital markets; changes in tax legislation or the Company’s ability to use
certain tax benefits and carryforwards; federal, state, and local legislative
and regulatory changes, including changes to environmental standards, the
enforcement of these laws and regulations and changes in the interpretation of
regulations by regulatory agencies; supply chain disruptions; inflation;
political or geopolitical developments, including impacts on the global economy,
supply chain and fuel prices, generally, from the ongoing conflict between
Russia and Ukraine; the impact from any new developments relating to the
COVID-19 pandemic or any future health pandemics; current and future litigation
and regulatory investigations, proceedings or inquiries; changes in accounting
standards; the financial performance of American Transmission Company as well as
projects in which the Company’s energy infrastructure business invests; the
ability of the Company to obtain additional generating capacity at competitive
prices; goodwill and its possible impairment; and other factors described under
the heading “Factors Affecting Results, Liquidity and Capital Resources” in
Management’s Discussion and Analysis of Financial Condition and Results of
Operations and under the headings “Cautionary Statement Regarding
Forward-Looking Information” and “Risk Factors” contained in the Company’s Form
10-K for the year ended December 31, 2022, and in subsequent reports filed with
the Securities and Exchange Commission. Except as may be required by law, the
Company expressly disclaims any obligation to publicly update or revise any
forward-looking information.



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