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MGE Energy's Q1 earnings slide on lower gas retail sales

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MGE Energy's Q1 earnings slide on lower gas retail sales

MGE Energy Inc.on May 5 posted first-quarter 2016 net income of $17.0 million, or 49 cents pershare, compared with $18.3 million, or 53 cents per share, in the same quarter of2015.

The company attributed the decrease in earnings to a 14.5% dropin gas retail sales due to warmer weather during the 2016 first quarter.

The company recorded a $22.6 million year-over-year drop in first-quarteroperating revenues to $147.5 million. Operating income was down $2.4 million yearover year to $29.5 million during the most recent quarter.