•
Dec 31, 2023
MGEE Q4 2023 Earnings Report
Reported fourth-quarter and full-year earnings for 2023.
Key Takeaways
MGE Energy reported earnings of $20.1 million, or 55 cents per share, for the fourth quarter of 2023, compared to $21.1 million, or 58 cents per share, for the same period in the prior year. The decrease in gas net income was due to lower gas sales, influenced by warmer-than-normal weather, which reduced gas retail therm deliveries by approximately 15%.
Fourth-quarter earnings were $20.1 million, or 55 cents per share.
Full-year GAAP earnings were $117.7 million, or $3.25 per share.
Gas net income decreased due to lower gas sales in Q4 2023.
Gas retail therm deliveries decreased by approximately 15% in Q4 2023 due to warmer weather.