MGE Energy Q1 GAAP EPS $0.86 vs $0.95 YoY; warmer weather cuts sales

MGE ENERGY INC

2023-Q1 EPS reported $0.86

Q1 net income $31.1M ($0.86 diluted EPS) vs $34.4M ($0.95) YoY.
Operating revenues $217.3M, up 4% from $208.9M in prior year.
Gas retail sales fell 14% and electric residential fell 7% vs Q1 2022.
Heating degree days 14% warmer than 2022; Jan 2023 avg temp 27°F vs 15°F in 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MGE ENERGY INC reported first quarter of 2023 results: revenue $ 217,253, net income $ 31,078, EPS $ 0.86.

Period: first quarter of 2023
Revenue: $ 217,253
Net income: $ 31,078
EPS: $ 0.86
Result: reported results

Exact text from the filing

MGE Energy, Inc. (In thousands, except per-share amounts) (Unaudited) Three Months Ended March 31, 2023 2022 Operating revenues $ 217,253 $ 208,938 Operating income $ 40,034 $ 41,863 Net income $ 31,078 $ 34,420 Earnings per share - basic $ 0.86 $ 0.95 Earnings per share - diluted $ 0.86 $ 0.95 Weighted average shares outstanding - basic 36,163 36,163 Weighted average shares outstanding - diluted 36,180 36,171

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

MGE ENERGY INC filing history →

Source: SEC EDGAR

accession 0000950170-23-017554

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