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Jun 30, 2023
MGEE Q2 2023 Earnings Report
MGE Energy's second quarter GAAP earnings increased due to investments included in rate base.
Key Takeaways
MGE Energy reported GAAP earnings of $28.7 million, or $0.79 per share, for the second quarter of 2023, compared to $21.8 million, or $0.60 per share, for the same period in the prior year. The increase was primarily driven by an increase in investments included in rate base.
Second-quarter earnings were primarily driven by an increase in investments included in rate base.
MGE continues to invest in new, cost-effective renewable generation, fueling the company's asset growth.
An increase in electric investments included in rate base contributed to increased electric earnings.
The timing of 2023 depreciation expense and lower fuel costs also contributed to higher electric earnings.
Forward Guidance
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are based on MGE Energy's current expectations, estimates and assumptions regarding future events, which are inherently uncertain.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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