MGE ENERGY INC

For the period ended Dec 31, 2023. Filed Feb 21, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 21, 2024

MGEE$79.72-0.6%Stored close · as of Nov 10, 2026

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Contents

MGE Energy, Inc. Consolidated Statements of Income

Consolidated Statements of Income

(In thousands, except per share amounts)

	For the Years Ended December 31,
	2023	2022	2021
Operating Revenues:
Electric revenues	$490,419	$465,847	$420,964
Gas revenues	200,012	248,672	185,620
Total Operating Revenues	690,431	714,519	606,584
Operating Expenses:
Fuel for electric generation	57,627	61,329	54,633
Purchased power	41,224	46,821	39,395
Cost of gas sold	106,647	152,570	99,690
Other operations and maintenance	215,891	209,875	199,316
Depreciation and amortization	100,352	85,549	76,983
Other general taxes	22,305	20,632	19,273
Total Operating Expenses	544,046	576,776	489,290
Operating Income	146,385	137,743	117,294
Other income, net	29,546	26,080	16,694
Interest expense, net	(30,429)	(26,647)	(24,112)
Income before income taxes	145,502	137,176	109,876
Income tax provision	(27,803)	(26,224)	(4,115)
Net Income	$117,699	$110,952	$105,761
Earnings Per Share of Common Stock
Basic	$3.25	$3.07	$2.92
Diluted	$3.25	$3.07	$2.92
Dividends per share of common stock	$1.67	$1.59	$1.52
Weighted Average Shares Outstanding
Basic	36,163	36,163	36,163
Diluted	36,186	36,174	36,167

Consolidated State

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.