UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
Current Report On
FORM 8-K
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
DECEMBER 21, 2001
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Commission Registrant; State of Incorporation IRS Employer
File Number Address; and Telephone Number Identification No.
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001-09057 WISCONSIN ENERGY CORPORATION 39-1391525
(A Wisconsin Corporation)
231 West Michigan Street
P.O. Box 2949
Milwaukee, WI 53201
(414) 221-2345
WISCONSIN ENERGY CORPORATION
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ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE
EARNINGS OUTLOOK: On December 21, 2001, Wisconsin Energy
Corporation issued a press release announcing that it was
lowering its 2001 earnings forecast to a range of $1.90 to $2.00
per diluted share based on the unfavorable impact of mild weather
during the fall and early winter of 2001 on the heating revenues
of its regulated natural gas and electric businesses. The text
of this press release, which is filed as an exhibit to this
report, is incorporated herein by reference. Previously in its
Quarterly Report on Form 10-Q for the period ended September 30,
2001, Wisconsin Energy had projected 2001 earnings in the range
of $2.05 to $2.10 per diluted share. The 2001 earnings forecast
excludes the impacts of Statement of Financial Accounting
Standards No. 133, Accounting for Derivative Instruments and
Hedging Activities, non-recurring gains on asset sales and
potential fourth quarter charges for the redemption of high
coupon bonds and for the write-down of non-utility assets.
In the December 21, 2001 press release noted above, Wisconsin
Energy reaffirmed its 2002 earnings projection of $2.20 to $2.40
per diluted share assuming normal weather, appropriate recovery
of fuel costs and other risk factors.
CAUTIONARY FACTORS: Some matters discussed in this document,
including estimates of future earnings, are forward-looking
statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are
subject to various risks, uncertainties and assumptions. Actual
results may vary materially. Factors that could cause actual
results to differ materially include, but are not limited to:
general economic conditions; business, competitive and regulatory
conditions in the deregulating and consolidating energy industry,
in general, and in the Company's utility service territories;
regulatory decisions; availability of the Company's generating
facilities; changes in the cost or supply availability of
purchased power, coal or natural gas; the ability to recover fuel
and purchased power costs; unusual weather; risks associated with
non-utility diversification; obtaining necessary regulatory
approvals and investment capital to implement the Company's
growth strategy; the timing and extent to which anticipated
synergy benefits from the WICOR merger are realized; disposition
of legal proceedings; foreign governmental, economic, political
and currency risks; continuation of the common stock repurchase
plan and the other cautionary factors described in Wisconsin
Energy Corporation's latest Form 10-K and subsequent reports
filed with the Securities and Exchange Commission.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits:
See the Exhibit Index following the Signature page of this
report, which is incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
WISCONSIN ENERGY CORPORATION
(Registrant)
/s/ STEPHEN P. DICKSON
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Date: December 21, 2001 Stephen P. Dickson - Controller and
Principal Accounting Officer
WISCONSIN ENERGY CORPORATION
(Commission File No. 001-09057)
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EXHIBIT INDEX
to
CURRENT REPORT ON FORM 8-K
Date of Report: DECEMBER 21, 2001
The following Exhibit is filed with this Current Report on Form 8-K:
Exhibit No.
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99.1 News Release dated December 21, 2001 reporting a change in
Wisconsin Energy's 2001 earnings forecast and reaffirming
its previously reported 2002 earnings forecast.