Quarterly Summary of Operations

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Summary of Operations

Quarterly Summary of Operations - MGE Energy (unaudited).

(In thousands, except per share amounts)		Quarters Ended
2019		March 31		June 30		September 30		December 31
Operating revenues:
Electric revenues	$	97,469	$	97,077	$	120,821	$	93,613
Gas revenues		70,100		25,070		17,377		47,328
Total Operating Revenues		167,569		122,147		138,198		140,941
Operating expenses		137,057		102,364		99,460		119,064
Operating income		30,512		19,783		38,738		21,877
Interest and other income, net		(796)		(730)		(627)		(2,099)
Income tax provision		(5,709)		(3,505)		(7,454)		(3,116)
Earnings on common stock	$	24,007	$	15,548	$	30,657	$	16,662
Earnings per common share	$	0.69	$	0.45	$	0.88	$	0.48
Dividends per share	$	0.338	$	0.338	$	0.353	$	0.353
2018
Operating revenues:
Electric revenues	$	94,867	$	99,282	$	119,388	$	88,464
Gas revenues		62,765		24,980		18,407		51,615
Total Operating Revenues		157,632		124,262		137,795		140,079
Operating expenses		131,444		100,031		97,997		116,089
Operating income		26,188		24,231		39,798		23,990
Interest and other income, net		180		(52)		(695)		(1,987)
Income tax provision		(6,367)		(5,828)		(9,597)		(5,642)
Earnings on common stock	$	20,001	$	18,351	$	29,506	$	16,361
Earnings per common share	$	0.58	$	0.53	$	0.85	$	0.47
Dividends per share	$	0.323	$	0.323	$	0.338	$	0.338

Notes:

•The quarterly results of operations within a year may not be comparable because of seasonal and other factors.

•The sum of earnings per share of common stock for any four quarters may vary slightly from the earnings per share of common stock for the equivalent twelve-month period due to rounding.

•MGE Energy's operations are based primarily on its utility subsidiary MGE.