MGE Energy Reports Third-Quarter Earnings

MGE Energy, Inc. (Nasdaq: MGEE) today reported financial results for the third quarter of 2018.

MGE Energy's earnings for the third quarter of 2018 were $29.5 million, or 85 cents per share, compared to $26.6 million, or 77 cents per share, for the same period in the prior year.

During the third quarter of 2018, electric net income increased due to a 3.5% increase in electric retail sales. This increase reflects higher customer demand as a result of warmer weather, particularly in August, when compared to cooler weather for the same month in 2017. The average temperature in August was 72 degrees compared to 67 degrees in the prior year. Normal average temperature in August is 70 degrees.

MGE Energy, Inc.

(In thousands, except per share amounts)

(Unaudited)

Three Months Ended September 30,

2018

2017

        
      
      
        
          Operating revenue
        
        
        
        
        
        
          $137,795
        
        
        
        
        
        
          $139,539
        
      
      
        
          Operating income
        
        
        
        
        
        
          $39,798
        
        
        
        
        
        
          $41,997
        
      
      
        
          Net income
        
        
        
        
        
        
          $29,506
        
        
        
        
        
        
          $26,629
        
      
      
        
          Earnings per share (basic and diluted)
        
        
        
        
        
        
          $0.85
        
        
        
        
        
        
          $0.77
        
      
      
        
          Weighted average shares outstanding (basic and diluted)
        
        
        
        
        
        
          34,668
        
        
        
        
        
        
          34,668
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          

Nine Months Ended September 30,

2018

2017

        
      
      
        
          Operating revenue
        
        
        
        
        
        
          $419,689
        
        
        
        
        
        
          $422,825
        
      
      
        
          Operating income
        
        
        
        
        
        
          $90,217
        
        
        
        
        
        
          $99,428
        
      
      
        
          Net income
        
        
        
        
        
        
          $67,858
        
        
        
        
        
        
          $61,472
        
      
      
        
          Earnings per share (basic and diluted)
        
        
        
        
        
        
          $1.96
        
        
        
        
        
        
          $1.77
        
      
      
        
          Weighted average shares outstanding (basic and diluted)
        
        
        
        
        
        
          34,668
        
        
        
        
        
        
          34,668
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
    
    

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.

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MGE Energy, Inc.Steven B. SchultzCorporate Communications Manager608-252-7219 | [e-mail]