---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-017554"
form_type: "8-K"
ticker: "MGEE"
cik: "0001161728"
company_name: "MGE ENERGY INC"
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T20:06:00.505203+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-017554
- form_type: 8-K
- ticker: MGEE
- cik: 0001161728
- company_name: MGE ENERGY INC
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1161728/000095017023017554/0000950170-23-017554-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/61339/000095017023017554/mgee-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-017554
- JSON: https://secwatch.observer/filing/0000950170-23-017554.json
- Plain text: https://secwatch.observer/filing/0000950170-23-017554.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1161728/000095017023017554/0000950170-23-017554-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.