MGE Energy Reports Third-Quarter 2024 Earnings
MGE Energy (MGEE) reported Q3 2024 earnings of $40.9 million, or $1.13 per share, up from $37.9 million, or $1.05 per share, in Q3 2023. The company's electric net income increased by $3.9 million, driven by increased electric investments in rate base and lower fuel costs. Operating revenues rose to $168.5 million from $160.5 million year-over-year. Gas net income remained relatively stable compared to the previous year. For the six-month period, operating revenues decreased to $505.5 million from $525.8 million, while net income slightly increased to $98.5 million from $97.6 million.
MGE Energy (MGEE) ha riportato un utile netto per il terzo trimestre del 2024 di $40,9 milioni, ovvero $1,13 per azione, rispetto ai $37,9 milioni, o $1,05 per azione, del terzo trimestre del 2023. I guadagni netti elettrici dell'azienda sono aumentati di $3,9 milioni, grazie ad investimenti elettrici superiori nel capitale regolato e a costi del carburante più bassi. I ricavi operativi sono aumentati a $168,5 milioni rispetto ai $160,5 milioni dell'anno precedente. I guadagni netti del gas sono rimasti relativamente stabili rispetto all'anno scorso. Per il periodo di sei mesi, i ricavi operativi sono diminuiti a $505,5 milioni rispetto ai $525,8 milioni, mentre l'utile netto è leggermente aumentato a $98,5 milioni rispetto ai $97,6 milioni.
MGE Energy (MGEE) reportó una ganancia neta del tercer trimestre de 2024 de $40.9 millones, o $1.13 por acción, en comparación con $37.9 millones, o $1.05 por acción, en el tercer trimestre de 2023. Los ingresos netos por electricidad de la empresa aumentaron en $3.9 millones, impulsados por mayores inversiones eléctricas en la base tarifaria y costos de combustible más bajos. Los ingresos operativos crecieron a $168.5 millones desde $160.5 millones año tras año. Los ingresos netos de gas se mantuvieron relativamente estables en comparación con el año anterior. Para el período de seis meses, los ingresos operativos disminuyeron a $505.5 millones desde $525.8 millones, mientras que la ganancia neta aumentó ligeramente a $98.5 millones desde $97.6 millones.
MGE Energy (MGEE)는 2024년 3분기 순익이 $40.9 백만, 주당 $1.13으로 보고했으며, 이는 2023년 3분기의 $37.9 백만, 주당 $1.05에서 증가한 수치입니다. 회사의 전기 순수익은 전기 투자 증가와 연료 비용 절감에 힘입어 $3.9 백만 상승했습니다. 운영 수익은 전년 대비 $168.5 백만에서 $160.5 백만으로 증가했습니다. 가스 순수익은 전년도와 비교해 상대적으로 안정세를 유지했습니다. 6개월 동안 운영 수익은 $525.8 백만에서 $505.5 백만으로 감소한 반면, 순익은 $97.6 백만에서 $98.5 백만으로 소폭 증가했습니다.
MGE Energy (MGEE) a annoncé un bénéfice net pour le troisième trimestre de 2024 de $40,9 millions, soit $1,13 par action, en hausse par rapport à $37,9 millions, soit $1,05 par action, au troisième trimestre de 2023. Le revenu net électrique de l'entreprise a augmenté de $3,9 millions, tiré par des investissements électriques accrus dans la base tarifaire et par une baisse des coûts des combustibles. Les revenus d'exploitation ont augmenté à $168,5 millions contre $160,5 millions d'une année sur l'autre. Le revenu net du gaz est resté relativement stable par rapport à l'année précédente. Sur une période de six mois, les revenus d'exploitation ont diminué à $505,5 millions contre $525,8 millions, tandis que le bénéfice net a légèrement augmenté à $98,5 millions contre $97,6 millions.
MGE Energy (MGEE) hat für das dritte Quartal 2024 einen Gewinn von $40,9 Millionen, oder $1,13 pro Aktie, gemeldet, im Vergleich zu $37,9 Millionen, oder $1,05 pro Aktie, im dritten Quartal 2023. Das elektrische Nettoeinkommen des Unternehmens stieg um $3,9 Millionen, angetrieben durch erhöhte elektrische Investitionen in die Tarifbasis und niedrigere Brennstoffkosten. Die Betriebseinnahmen stiegen auf $168,5 Millionen von $160,5 Millionen im Jahresvergleich. Das Gasnettoeinkommen blieb im Vergleich zum Vorjahr relativ stabil. Für den Zeitraum von sechs Monaten sank der Betriebserlös von $525,8 Millionen auf $505,5 Millionen, während das Nettoeinkommen leicht von $97,6 Millionen auf $98,5 Millionen stieg.
- Q3 2024 earnings increased 8% to $40.9 million from $37.9 million YoY
- Q3 EPS grew 7.6% to $1.13 from $1.05 YoY
- Q3 operating revenues improved 4.9% to $168.5 million
- Electric net income increased by $3.9 million
- Lower fuel costs than planned in Q3 2024
- Six-month operating revenues declined 3.8% to $505.5 million
- Six-month operating income decreased 2.9% to $118.6 million
Insights
MGE Energy delivered solid Q3 2024 results with
The electric segment showed particular strength with a
The stable gas segment performance and continued investment in rate base infrastructure suggest a well-executed regulated utility strategy focused on sustainable growth and operational efficiency.
MGE Energy's GAAP (Generally Accepted Accounting Principles) earnings for the third quarter of 2024 were
In the third quarter of 2024, electric net income increased
Gas net income in the third quarter of 2024 remained relatively flat compared to the third quarter of 2023.
MGE Energy, Inc. |
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(In thousands, except per-share amounts) |
||||||||
(Unaudited) |
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Three Months Ended September 30, |
|
2024 |
|
|
2023 |
|
||
Operating revenues |
|
$ |
168,480 |
|
|
$ |
160,528 |
|
Operating income |
|
$ |
48,140 |
|
|
$ |
43,792 |
|
Net income |
|
$ |
40,939 |
|
|
$ |
37,857 |
|
Earnings per share - basic |
|
$ |
1.13 |
|
|
$ |
1.05 |
|
Earnings per share - diluted |
|
$ |
1.13 |
|
|
$ |
1.05 |
|
Weighted average shares outstanding - basic |
|
|
36,181 |
|
|
|
36,163 |
|
Weighted average shares outstanding - diluted |
|
|
36,211 |
|
|
|
36,189 |
|
|
|
|
|
|
|
|
||
Six Months Ended September 30, |
|
2024 |
|
|
2023 |
|
||
Operating revenues |
|
$ |
505,529 |
|
|
$ |
525,779 |
|
Operating income |
|
$ |
118,620 |
|
|
$ |
122,216 |
|
Net income |
|
$ |
98,547 |
|
|
$ |
97,616 |
|
Earnings per share - basic |
|
$ |
2.72 |
|
|
$ |
2.70 |
|
Earnings per share - diluted |
|
$ |
2.72 |
|
|
$ |
2.70 |
|
Weighted average shares outstanding - basic |
|
|
36,176 |
|
|
|
36,163 |
|
Weighted average shares outstanding - diluted |
|
|
36,202 |
|
|
|
36,185 |
|
About MGE Energy
MGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric, generates and distributes electricity to 163,000 customers in
Forward-looking Statements
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. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to revise or update publicly any such forward-looking statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to our business in general, please refer to the "Risk Factors" sections in our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241106573820/en/
Steve B. Schultz
Media Relations
608-252-7219 | sbschultz@mge.com
Ken Frassetto
Investor Relations
608-252-4723 | kfrassetto@mge.com
Source: MGE Energy, Inc.
FAQ
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