MGE Energy Reports Third-Quarter Earnings
November 06 2018 - 12:59PM
Business Wire
MGE Energy, Inc. (Nasdaq: MGEE) today reported financial results
for the third quarter of 2018.
MGE Energy's earnings for the third quarter of 2018 were
$29.5 million, or 85 cents per share, compared to
$26.6 million, or 77 cents per share, for the same period in
the prior year.
During the third quarter of 2018, electric net income increased
due to a 3.5% increase in electric retail sales. This increase
reflects higher customer demand as a result of warmer weather,
particularly in August, when compared to cooler weather for the
same month in 2017. The average temperature in August was 72
degrees compared to 67 degrees in the prior year. Normal average
temperature in August is 70 degrees.
MGE Energy, Inc.
(In thousands, except per share
amounts)
(Unaudited)
Three Months Ended September 30,
2018 2017 Operating revenue $137,795 $139,539
Operating income $39,798 $41,997 Net income $29,506 $26,629
Earnings per share (basic and diluted) $0.85 $0.77 Weighted average
shares outstanding (basic and diluted) 34,668 34,668
Nine
Months Ended September 30, 2018 2017 Operating
revenue $419,689 $422,825 Operating income $90,217 $99,428 Net
income $67,858 $61,472 Earnings per share (basic and diluted) $1.96
$1.77 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181106005819/en/
MGE Energy, Inc.Steven B. SchultzCorporate Communications
Manager608-252-7219 | sbschultz@mge.com
MGE Energy (NASDAQ:MGEE)
Historical Stock Chart
From Feb 2024 to Mar 2024
MGE Energy (NASDAQ:MGEE)
Historical Stock Chart
From Mar 2023 to Mar 2024