MGE Energy, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 01:23 pm EDT
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MGE Energy, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 148 million compared to USD 152.35 million a year ago. Revenue was USD 148 million compared to USD 152.35 million a year ago. Net income was USD 28.68 million compared to USD 21.76 million a year ago. Basic earnings per share from continuing operations was USD 0.79 compared to USD 0.6 a year ago. Diluted earnings per share from continuing operations was USD 0.79 compared to USD 0.6 a year ago.
For the six months, sales was USD 365.25 million compared to USD 361.29 million a year ago. Revenue was USD 365.25 million compared to USD 361.29 million a year ago. Net income was USD 59.76 million compared to USD 56.18 million a year ago. Basic earnings per share from continuing operations was USD 1.65 compared to USD 1.55 a year ago. Diluted earnings per share from continuing operations was USD 1.65 compared to USD 1.55 a year ago.
MGE Energy, Inc. is a public utility holding company. The Company's segments include Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations, and Transmission investments. The Regulated electric utility operations segment is engaged in generating, purchasing, and distributing electricity through Madison Gas and Electric Company (MGE). The Regulated gas utility operations segment is engaged in purchasing and distributing natural gas through MGE. The Nonregulated energy operations segment owns and leases electric generating capacity that assists MGE through MGE Energy's wholly owned subsidiaries MGE Power Elm Road and MGE Power West Campus. The Transmission investments segment includes the investment in American Transmission Company LLC, which is engaged in the business of providing electric transmission services in Wisconsin, and ATC Holdco LLC, which facilitate out-of-state electric transmission development and investments.
MGE ENERGY, INC. 
