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Mar 31, 2023
MGEE Q1 2023 Earnings Report
MGE Energy's first quarter earnings decreased due to warmer-than-normal weather impacting gas and electric retail sales.
Key Takeaways
MGE Energy reported GAAP earnings of $31.1 million, or $0.86 per share, for the first quarter of 2023, compared to $34.4 million, or $0.95 per share, for the same period in the prior year. Warmer-than-normal weather led to lower gas and electric retail sales.
First quarter 2023 GAAP earnings were $31.1 million, or $0.86 per share.
This is compared to $34.4 million, or $0.95 per share, for the same period in the prior year.
Warmer-than-normal weather significantly impacted gas and electric retail sales.
Gas retail sales decreased approximately 14% and electric residential retail sales decreased approximately 7% compared to the same period in the prior year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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