MGE Energy Q3 profit rises to $40.9 million, or $1.13 per share from $1.05
MGE Energy reported third-quarter 2024 GAAP earnings of $40.9 million, or $1.13 per share, up from $37.9 million, or $1.05 per share, a year earlier, on operating revenues of $168.5 million versus $160.5 million. The company said higher electric investments in rate base and lower fuel costs drove the electric earnings gain, while gas net income was flat. For shareholders, the quarter shows higher profit, though nine-month operating revenues declined to $505.5 million from $525.8 million.
Key points
- Q3 2024 GAAP net income was $40.9 million, or $1.13 per diluted share, versus $37.9 million, or $1.05, in Q3 2023.
- Q3 2024 operating revenues were $168.5 million, up from $160.5 million; operating income was $48.1 million versus $43.8 million.
- Electric net income rose $3.9 million, driven by electric investments in rate base and lower fuel costs; gas net income was relatively flat.
- For the nine months ended September 30, 2024, EPS was $2.72 versus $2.70, while operating revenues were $505.5 million versus $525.8 million.
The filing
Written by AI on Nov 8, 2026, 1:49 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 06, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.