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| UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
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| FORM CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
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Commission File No. |
| Name of Registrant, State of Incorporation, Address of Principal Executive Offices, and Telephone No. |
| IRS Employer Identification No. |
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(a ( |
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(a (
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
MGE Energy, Inc.
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
MGE Energy, Inc. ☐Madison Gas and Electric Company ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
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| The |
1
Item 2.02. Results of Operations and Financial Condition.
On November 6, 2019, MGE Energy, Inc. (the Company) issued a press release announcing its third quarter 2019 earnings. The Company is furnishing a copy of that press release as Exhibit 99.1 to this report.
This combined Form 8-K is being furnished separately by the Company and Madison Gas and Electric Company. Information contained herein relating to any individual registrant has been furnished by such registrant on its own behalf. Neither registrant makes any representation as to information relating to the other registrant.
Item 9.01. Financial Statements and Exhibits.
(a)Financial statements of businesses acquired: None
(b)Pro forma financial information: None
(c)Shell company transactions: None
(d)Exhibits.
Exhibit No. |
| Description |
| Press release of MGE Energy, Inc., issued on November 6, 2019. | |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.
| MGE Energy, Inc. Madison Gas and Electric Company |
| (Registrants) |
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Date: November 6, 2019 | /s/ Jeffrey C. Newman |
| Jeffrey C. Newman Executive Vice President, Chief Financial Officer, Secretary and Treasurer |
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EXHIBIT 99.1
News
MGE Energy Reports Third-Quarter Earnings
Madison, Wis., Nov. 6, 2019—MGE Energy, Inc. (Nasdaq: MGEE) today reported financial results for the third quarter of 2019.
MGE Energy’s earnings for the third quarter of 2019 were $30.7 million, or 88 cents per share, compared to $29.5 million, or 85 cents per share, for the same period in the prior year.
During the third quarter of 2019, an increase in owned renewable generation assets contributed to electric earnings growth compared to the prior year. The completion of the Saratoga Wind Farm added generation assets in 2019. The Two Creeks and Badger Hollow Solar projects are under construction and expected to be completed by the end of 2020.
Electric retail sales remained relatively flat quarter over quarter. The average daily temperature for both the three months ended September 30, 2019 and 2018 was measured at normal levels.
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MGE Energy, Inc. |
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(In thousands, except per share amounts) |
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(Unaudited) |
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Three Months Ended September 30, |
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2019 |
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2018 |
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Operating revenue |
$ |
138,198 |
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$ |
137,795 |
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Operating income |
$ |
38,738 |
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$ |
39,798 |
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Net income |
$ |
30,657 |
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$ |
29,506 |
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Earnings per share (basic and diluted) |
$ |
0.88 |
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$ |
0.85 |
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Weighted average shares outstanding (basic and diluted) |
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34,668 |
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34,668 |
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Nine Months Ended September 30, |
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2019 |
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2018 |
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Operating revenue |
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427,914 |
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$ |
419,689 |
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Operating income |
$ |
89,032 |
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$ |
90,217 |
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Net income |
$ |
70,212 |
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$ |
67,858 |
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Earnings per share (basic and diluted) |
$ |
2.03 |
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$ |
1.96 |
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Weighted average shares outstanding (basic and diluted) |
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34,668 |
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34,668 |
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About MGE Energy
MGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric, generates and distributes electricity to 153,000 customers in Dane County, Wis., and purchases and distributes natural gas to 161,000 customers in seven south-central and western Wisconsin counties. MGE's roots in the Madison area date back more than 150 years.
Contact
Steven B. Schultz
Corporate Communications Manager
608-252-7219 | sbschultz@mge.com
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