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Jun 30, 2022
MGEE Q2 2022 Earnings Report
MGE Energy reported earnings decrease in Q2 2022 compared to the same period last year.
Key Takeaways
MGE Energy's GAAP earnings for the second quarter of 2022 were $21.8 million, or $0.60 cents per share, compared to $22.9 million, or $0.63 cents per share, for the same period in the prior year.
Second quarter GAAP earnings were $21.8 million, or $0.60 per share.
This compares to $22.9 million, or $0.63 per share, for the same period in the prior year.
Electric net income decreased $1.1 million compared to the second quarter of 2021 due to the timing of depreciation and other operations and maintenance costs.
Gas net income remained relatively flat compared to the second quarter of 2021.
MGEE
MGEE
Forward Guidance
MGE Energy is targeting carbon reductions of at least 80% (from 2005 levels) by 2030 and net-zero carbon electricity by 2050.