MGEE Q4 2022 Earnings Report
Key Takeaways
MGE Energy reported fourth-quarter earnings of $21.1 million, or 58 cents per share, compared to $13.1 million, or 36 cents per share, for the same period in the prior year. The increase is primarily attributed to increased earnings from the growth of electric and gas asset base and the timing of costs in 2021.
MGE Energy's earnings for the fourth quarter of 2022 were $21.1 million, or 58 cents per share.
Earnings increased due to growth of electric and gas asset base and the timing of costs.
Gas retail therm deliveries increased approximately 15 percent during 2022, primarily due to colder weather.
Gas use by commercial and industrial customers was approximately 16 percent higher during 2022 and gas residential consumption increased by approximately 14 percent.
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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.