MGE Energy Reports Second-Quarter Earnings
August 07 2018 - 3:00PM
Business Wire
MGE Energy, Inc. (Nasdaq: MGEE) today reported financial results
for the second quarter of 2018.
MGE Energy's earnings for the second quarter of 2018 were
$18.4 million, or 53 cents per share, compared to
$15.5 million, or 45 cents per share, for the same period in
the prior year.
During the second quarter of 2018, gas net income increased over
the same period in the prior year, largely attributable to colder
weather conditions in April 2018. In addition, there was an
increase in gas retail customers. MGE Energy also experienced
higher electric net income this year as a result of higher retail
sales. The improved results are due to favorable weather conditions
experienced in the second quarter of 2018 versus the same period in
2017.
MGE Energy, Inc.
(In thousands, except per share
amounts)
(Unaudited)
Three Months Ended June 30, 2018
2017 Operating revenue $124,262 $126,463 Operating income
$24,231 $25,595 Net income $18,351 $15,543 Earnings per share
(basic and diluted) $0.53 $0.45 Weighted average shares outstanding
(basic and diluted) 34,668 34,668
Six Months Ended June
30, 2018 2017 Operating revenue $281,894 $283,286
Operating income $50,419 $57,431 Net income $38,352 $34,843
Earnings per share (basic and diluted) $1.11 $1.01 Weighted average
shares outstanding (basic and diluted) 34,668 34,668
About MGE Energy
MGE Energy is a public utility holding company. Its principal
subsidiary, Madison Gas and Electric, generates and distributes
electricity to 151,000 customers in Dane County, Wis., and
purchases and distributes natural gas to 158,000 customers in seven
south-central and western Wisconsin counties. MGE's roots in the
Madison area date back more than 150 years.
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version on businesswire.com: https://www.businesswire.com/news/home/20180807005801/en/
MGE Energy, Inc.Steven B. Schultz, 608-252-7219Corporate
Communications Managersbschultz@mge.com
MGE Energy (NASDAQ:MGEE)
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