MGEE Q2 2021 Earnings Report
Key Takeaways
MGE Energy reported GAAP earnings of $22.9 million, or $0.63 per share, for the second quarter of 2021, compared to $18.8 million, or $0.53 per share, for the same period in the prior year. The increase was attributed to warmer weather, economic recovery, and increased investments included in rate base. Electric commercial and residential kilowatt-hour sales increased by 9.4% and 1.4%, respectively.
Second-quarter earnings increased due to warmer weather and economic recovery.
Investments in renewable generation are fueling asset growth.
Electric earnings increased due to investments in rate base.
Depreciation and operations and maintenance costs are expected to increase during the remainder of 2021.
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Forward Guidance
Forward-looking statements include risks and uncertainties related to the COVID-19 pandemic and expenses expected for the remainder of 2021.