MGE Energy Reports First-Quarter Earnings

Madison, Wis., May 5, 2017—MGE Energy, Inc. (Nasdaq: MGEE) today reported earnings for the three months ended March 31, 2017, of $19.3 million, or 56 cents per share, compared to $17.0 million, or 49 cents per share, for the same period in the prior year.

During the first quarter of 2017, electric net income increased primarily related to lower fuel costs and savings from MGE's ongoing efforts to manage operating and maintenance costs. Gas net income remained relatively flat for the first quarter of 2017 compared to the same period in the prior year.

MGE Energy, Inc. (In thousands, except per-share amounts) (Unaudited)
Three Months Ended March 31, 2017 2016
Operating revenue $156,823 $147,527
Operating income $32,910 29,531
Net income $19,300 17,028
Earnings per share (basic and diluted) $0.56 $0.49
Weighted average shares outstanding (basic and diluted) 34,668 34,668

Steve Schultz
Corporate Communications Manager