MGE Energy(MGEE) - 2024 Q4 - Annual Results

Financial Performance - MGE Energy's GAAP earnings for the full year of 2024 were $120.6 million, or$3.33 per share, representing an increase from $117.7 million, or$3.25 per share, in 2023[1] - For Q4 2024, MGE Energy reported earnings of $22.0 million, or 61 cents per share, up from$20.1 million, or 55 cents per share, in Q4 2023[2] - Operating revenues for the full year of 2024 were $676.9 million, a decrease from$690.4 million in 2023[6] - Operating income for the full year of 2024 was $146.3 million, slightly down from$146.4 million in 2023[6] - The weighted average shares outstanding for basic earnings per share in 2024 were 36,210 thousand, compared to 36,163 thousand in 2023[6] Customer Base - MGE Energy serves 167,000 electricity customers and 178,000 natural gas customers in Wisconsin[7] Renewable Energy Initiatives - MGE Energy completed the Paris solar project in December 2024, contributing to its renewable generation investments[2] - The company continues to focus on cost-effective renewable generation to support asset growth and increase electric earnings[2] Market Conditions - Gas retail therm deliveries decreased approximately 4% in 2024 compared to the prior year, primarily due to warmer-than-normal weather[3] Forward-Looking Statements - MGE Energy cautions that forward-looking statements are based on current expectations and are subject to risks and uncertainties[8]