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.
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MGE Energy, Inc.
(In thousands, except per share amounts)
(Unaudited)
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Three Months Ended June 30,
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2018
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2017
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Operating revenue
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$124,262
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$126,463
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Operating income
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$24,231
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$25,595
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Net income
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$18,351
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$15,543
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Earnings per share (basic and diluted)
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$0.53
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$0.45
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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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Six Months Ended June 30,
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2018
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2017
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Operating revenue
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$281,894
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$283,286
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Operating income
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$50,419
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$57,431
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Net income
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$38,352
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$34,843
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Earnings per share (basic and diluted)
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$1.11
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$1.01
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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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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/20180807005801/en/
Copyright Business Wire 2018
Source: Business Wire
(August 7, 2018 - 3:00 PM EDT)
News by QuoteMedia
www.quotemedia.com
