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WPC

WISCONSIN PUBLIC SERVICE CORP
6 filings tracked
utilitieselectric gas utilitiesLARGE ($10B-200B)

Company Intelligence Hub

Filing history, signal momentum, and bull/bear evolution

Chronological Filing Evolution (Click to filter / toggle)

Thesis (Bull Case Evolution)

Wisconsin Public Service Corporation is demonstrating a robust operational trajectory, highlighted by a 13.2% surge in operating revenues to $564.3 million and a 10.7% increase in net income for the first quarter of 2026.…

Bullish Outlook

Antithesis (Bear Case / Structural Risks)

Despite headline growth, a closer look at the financials reveals emerging cracks in the operating engine. GAAP gross margins actually declined by $4.5 million year-over-year, as the company struggled with rising transmission expenses, depreciation, and property taxes.…

Risk Factors

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Synthesis (Verdict & Resolution)

The Q1 2026 filing presents a classic utility trade-off between aggressive growth and financial stability. On one hand, the company is successfully leveraging regulatory mechanisms to grow its top line and fund a massive energy transition. The shift toward renewables and the utilization of federal tax credits provide a clear path toward modernization and potential long-term value creation. However, the underlying data reveals a tightening liquidity position and a decline in actual energy demand. The tension between rising debt levels and slipping sales volumes suggests that the company's success is heavily dependent on the favorable outcome of its pending rate cases. Investors must weigh the promise of a modernized, zero-carbon grid against the immediate risks of margin compression and regulatory pushback. The overall impact of the filing is a transition from a stable, defensive utility to a higher-risk, higher-reward infrastructure project.

Selected Quarter

Core Takeaway

WPS is successfully raising prices and investing in the future, but actual energy demand is slipping, creating a gap between financial growth and operational utility.

Investor Lens

The trade-off is between the long-term growth of a modernized grid and the short-term risk of a credit downgrade due to high leverage.

Watch Next

The PSCW decision on the 2027-2028 rate case expected in Q4 2026.

View Full SEC Report

Signal Momentum Chart

Quarterly net bull/bear signal ratio. Click nodes to select a quarter.

BULLISH (+1.0)NEUTRAL (0.0)BEARISH (-1.0)+0.17Q2 '26 (10-Q)

Signal Timeline

Active Filters:Quarter: Q2 '26 (10-Q)
bullishMay 7

Net income grew 10.7% to $83.9 million due to approved rate orders.

earnings beat
60%
bearishMay 7

GAAP gross margin decreased by $4.5 million due to rising O&M and transmission costs.

margin compression
40%
neutralMay 7

Issued $300 million in long-term debt to fund capital expenditures.

capital raise
70%
bullishMay 7

Filed for significant rate increases for 2027 and 2028.

guidance raise
50%
bullishMay 7

Net income grew 10.7% to $83.9 million due to approved rate orders.

earnings beat
60%
bearishMay 7

GAAP gross margin decreased by $4.5 million due to rising O&M and transmission costs.

margin compression
40%
neutralMay 7

Issued $300 million in long-term debt to fund capital expenditures.

capital raise
70%
bullishMay 7

Filed for significant rate increases for 2027 and 2028.

guidance raise
50%
bullishMay 7

Net income grew 10.7% to $83.9 million due to approved rate orders.

earnings beat
60%
bearishMay 7

GAAP gross margin decreased by $4.5 million due to rising O&M and transmission costs.

margin compression
40%
neutralMay 7

Issued $300 million in long-term debt to fund capital expenditures.

capital raise
70%
bullishMay 7

Filed for significant rate increases for 2027 and 2028.

guidance raise
50%
bullishMay 7

Net income grew 10.7% to $83.9 million due to approved rate orders.

earnings beat
60%
bearishMay 7

GAAP gross margin decreased by $4.5 million due to rising O&M and transmission costs.

margin compression
40%
neutralMay 7

Issued $300 million in long-term debt to fund capital expenditures.

capital raise
70%
bullishMay 7

Filed for significant rate increases for 2027 and 2028.

guidance raise
50%
bullishMay 7

Net income grew 10.7% to $83.9 million due to approved rate orders.

earnings beat
60%
bearishMay 7

GAAP gross margin decreased by $4.5 million due to rising O&M and transmission costs.

margin compression
40%
neutralMay 7

Issued $300 million in long-term debt to fund capital expenditures.

capital raise
70%
bullishMay 7

Filed for significant rate increases for 2027 and 2028.

guidance raise
50%
bullishMay 7

Net income grew 10.7% to $83.9 million due to approved rate orders.

earnings beat
60%
bearishMay 7

GAAP gross margin decreased by $4.5 million due to rising O&M and transmission costs.

margin compression
40%
neutralMay 7

Issued $300 million in long-term debt to fund capital expenditures.

capital raise
70%
bullishMay 7

Filed for significant rate increases for 2027 and 2028.

guidance raise
50%

Filing History

10-QMay 7, 2026
Expand Sequence

The Q1 2026 filing presents a classic utility trade-off between aggressive growth and financial stability. On one hand, the company is successfully leveraging regulatory mechanisms to grow its top line and fund a massive energy transition. The shift toward renewables and the utilization of federal tax credits provide a clear path toward modernization and potential long-term value creation. However, the underlying data reveals a tightening liquidity position and a decline in actual energy demand. The tension between rising debt levels and slipping sales volumes suggests that the company's success is heavily dependent on the favorable outcome of its pending rate cases. Investors must weigh the promise of a modernized, zero-carbon grid against the immediate risks of margin compression and regulatory pushback. The overall impact of the filing is a transition from a stable, defensive utility to a higher-risk, higher-reward infrastructure project.

Disclaimer: The synthesis provided is generated by AI models and should not be construed as investment advice. Analysis is based solely on regulatory data present at the time of publication. Consult a financial advisor for specific investment strategies.