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Sep 30, 2020
MGEE Q3 2020 Earnings Report
MGE Energy's earnings remained consistent compared to the same period last year.
Key Takeaways
MGE Energy reported third-quarter earnings of $31.8 million, or 88 cents per share, compared to $30.7 million, or 88 cents per share, for the same period in the prior year. Electric net income increased due to AFUDC equity earned from the construction of Two Creeks and Badger Hollow I and II, as well as savings in operating and maintenance costs. COVID-19 negatively impacted electric earnings due to a reduction in retail sales.
Third-quarter earnings were $31.8 million, or 88 cents per share.
Electric net income increased due to AFUDC equity and savings in operating and maintenance costs.
COVID-19 negatively impacted electric earnings due to reduced retail sales.
Electric commercial retail sales dropped approximately 8%, while residential sales increased by approximately 9%.
Forward Guidance
The situation around the COVID-19 pandemic remains fluid, and the company continues to monitor the situation and manage its response while following local, state and federal public health and safety regulations and guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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