MGE Energy Q2 2023 diluted EPS $0.79 vs $0.60 YoY; net income up to $28.7M

MGE ENERGY INC

2023-Q2 EPS reported $1.65

GAAP diluted EPS $0.79, up from $0.60 in Q2 2022; net income $28.7M vs $21.8M.
Operating income $38.4M vs $25.5M YoY despite slight revenue decline ($148.0M vs $152.3M).
Electric earnings driven by increased rate base investments; gas net income relatively flat.
Timing of 2023 depreciation expense and lower fuel costs boosted electric earnings.
Capital projects including Badger Hollow and Paris solar phases expected to increase depreciation later.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MGE ENERGY INC reported the second quarter of 2023 results: net income $28.7 million, or $0.79 per share, EPS $0.79 per share.

Period: the second quarter of 2023
Net income: $28.7 million, or $0.79 per share
EPS: $0.79 per share
Result: reported results

Exact text from the filing

On August 3, 2023, MGE Energy, Inc. (the Company) issued a press release announcing its second quarter 2023 earnings.

View on SEC.gov

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

MGE ENERGY INC filing history →

Source: SEC EDGAR

accession 0000950170-23-037783

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