Quarterly Summary of Operations

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Summary of Operations

Quarterly Summary of Operations - MGE Energy (unaudited).

(In thousands, except per share amounts)		Quarters Ended
2020		March 31		June 30		September 30		December 31
Operating revenues:
Electric revenues	$	93,028	$	93,961	$	116,568	$	90,815
Gas revenues		56,845		23,079		18,643		45,694
Total Operating Revenues		149,873		117,040		135,211		136,509
Operating expenses		118,433		95,520		96,886		117,797
Operating income		31,440		21,520		38,325		18,712
Interest and other income, net		(390)		1,011		769		454
Income tax provision		(5,013)		(3,740)		(7,300)		(3,370)
Earnings on common stock	$	26,037	$	18,791	$	31,794	$	15,796
Earnings per common share	$	0.75	$	0.53	$	0.88	$	0.44
Dividends per share	$	0.353	$	0.353	$	0.370	$	0.370
2019
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

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.