MGE Energy Reports Second-Quarter Earnings
Madison, Wis., Aug. 6, 2015—MGE Energy, Inc. (Nasdaq: MGEE) today reported earnings for the three months ended June 30, 2015, of $13.5 million, or 39 cents per share, compared to $14.1 million, or 41 cents per share, for the same period in the prior year.
During the second quarter of 2015, electric net income decreased due to a 2.0% decrease in electric retail sales reflecting lower customer demand, particularly in June, when compared to warmer weather in 2014. The average temperature in June was 67 degrees, off nearly 6% from the June 2014 average temperature of 71 degrees.
About MGE Energy
MGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric (MGE), generates and distributes electricity to 143,000 customers in Dane County, Wis., and purchases and distributes natural gas to 149,000 customers in seven south-central and western Wisconsin counties. MGE's roots in the Madison area date back more than 150 years.
|MGE Energy, Inc. (In thousands, except per-share amounts) (Unaudited)||Three Months Ended June 30||2015||2014|
|Earnings per share (basic and diluted)||$0.39||$0.41|
|Average shares outstanding||34,668||34,668||Six Months Ended June 30||2015||2014|
|Earnings per share (basic and diluted)||$55,900||$68,412|
|Earnings per share (basic and diluted)||$0.92||$1.21|
|Average shares outstanding (basic and diluted)||34,668||34,668|