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Favorable weather lifts MGE's Q2'18 net income

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Favorable weather lifts MGE's Q2'18 net income

MGE Energy Inc. on Aug. 7 reported net income of $18.4 million, or 53 cents per share, in the second quarter of 2018, an increase from $15.5 million, or 45 cents per share, the previous year.

The company attributed the improved results to favorable weather conditions. MGE's gas net income increased in the second quarter largely due to colder weather in April and an increase in gas retail customers. The higher electric net income of the company was a result of higher retail sales.

Operating revenue in the second quarter of 2018 was $124.3 million, a decrease from $126.5 million a year ago. The company also reported operating income of $24.2 million, down from $25.6 million, in the same quarter a year earlier.