MGE Energy Reports First-Quarter 2025 Earnings

About this update from Mge Energy Inc.

[{"type":"text","content":" MADISON, Wis.--(BUSINESS WIRE)--\nMGE Energy, Inc. (Nasdaq: MGEE), today reported financial results for the first quarter of 2025.\n\nMGE Energy's GAAP (Generally Accepted Accounting Principles) earnings for the first quarter of 2025 were $41.6 million, or $1.14 per share, compared to $33.8 million, or $0.93 per share, for the same period in the prior year. Rate base investment growth and weather impacts drove our first-quarter results.\n\nMGE continues to invest in new, cost-effective renewable generation, which is helping to fuel the company's asset growth. An increase in electric investments included in rate base contributed to increased electric earnings for 2025. Darien solar project in Rock and Walworth counties became operational in March 2025, serving MGE electric customers with cost-effective, carbon-free energy. MGE owns 25 MW of solar capacity from the Darien Solar Project.\n\nGas retail sales saw a significant increase of 19% in the first quarter of 2025, while electric retail sales rose by 3%. These changes occurred against a backdrop of relatively normal weather in the first quarter of 2025, compared to the milder conditions observed in the first quarter of 2024.\n\n\n\nMGE Energy, Inc.\n\n\n(In thousands, except per-share amounts)\n\n\n(Unaudited)\n\n\n\n\n\n\n\n\n\n\n \n\n\n\nThree Months Ended March 31,\n\n\n\n \n\n\n\n2025\n\n\n\n \n\n\n\n \n\n\n\n2024\n\n\n\n \n\n\n\n\n\nOperating revenues\n\n\n\n \n\n\n\n$\n\n\n\n218,970\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n191,336\n\n\n\n \n\n\n\n\n\nOperating income\n\n\n\n \n\n\n\n$\n\n\n\n52,865\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n40,745\n\n\n\n \n\n\n\n\n\nNet income\n\n\n\n \n\n\n\n$\n\n\n\n41,592\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n33,814\n\n\n\n \n\n\n\n\n\nEarnings per share - basic\n\n\n\n \n\n\n\n$\n\n\n\n1.14\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.93\n\n\n\n \n\n\n\n\n\nEarnings per share - diluted\n\n\n\n \n\n\n\n$\n\n\n\n1.14\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.93\n\n\n\n \n\n\n\n\n\nWeighted average shares outstanding - basic\n\n\n\n \n\n\n\n \n\n\n\n36,511\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n36,171\n\n\n\n \n\n\n\n\n\nWeighted average shares outstanding - diluted\n\n\n\n \n\n\n\n \n\n\n\n36,539\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n36,189\n\n\n\n \n\n\n\n\nAbout MGE Energy\n\nMGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric, ...

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