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Sep 30, 2024
MGEE Q3 2024 Earnings Report
MGE Energy's financial performance increased in Q3 2024, with higher earnings per share compared to the same period last year.
Key Takeaways
MGE Energy reported GAAP earnings of $40.9 million, or $1.13 per share, for the third quarter of 2024, compared to $37.9 million, or $1.05 per share, for the same period in the prior year. The increase in electric net income was driven by higher electric investments in rate base and lower fuel costs.
GAAP earnings for Q3 2024 were $40.9 million, or $1.13 per share.
This compares to $37.9 million, or $1.05 per share, for the same period last year.
Electric net income increased by $3.9 million compared to Q3 2023.
Lower fuel costs and increased electric investments in rate base contributed to the increased electric earnings.