MGE Energy, Inc. (Nasdaq: MGEE) today reported earnings for the three
months ended March 31, 2017, of $19.3 million, or 56 cents per share,
compared to $17.0 million, or 49 cents per share, for the same period in
the prior year.
During the first quarter of 2017, electric net income increased
primarily related to lower fuel costs and savings from MGE's ongoing
efforts to manage operating and maintenance costs. Gas net income
remained relatively flat for the first quarter of 2017 compared to the
same period in the prior year.
About MGE Energy
MGE Energy is a public utility holding company. Its principal
subsidiary, Madison Gas and Electric, generates and distributes
electricity to 149,000 customers in Dane County, Wis., and purchases and
distributes natural gas to 154,000 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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MGE Energy, Inc.
(In thousands, except per share amounts)
(Unaudited)
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|
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Three Months Ended March 31,
|
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2017
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2016
|
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Operating revenue
|
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$156,823
|
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$147,527
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Operating income
|
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$32,910
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$29,531
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Net income
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$19,300
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$17,028
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Earnings per share (basic and diluted)
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$0.56
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$0.49
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Weighted average shares outstanding (basic and diluted)
|
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34,668
|
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34,668
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View source version on businesswire.com: http://www.businesswire.com/news/home/20170505005613/en/
Copyright Business Wire 2017
Source: Business Wire
(May 5, 2017 - 11:56 AM EDT)
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