$MGEE
MGE ENERGY INC

2024 Q4 Form 10-Q Financial Statement

#000095017024121952 Filed on November 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $168.5M
YoY Change 4.95%
Cost Of Revenue $12.76M
YoY Change 4.55%
Gross Profit $155.7M
YoY Change 5.01%
Gross Profit Margin 92.43%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $27.10M
YoY Change 7.13%
% of Gross Profit 17.41%
Operating Expenses $107.6M
YoY Change 2.95%
Operating Profit $48.14M
YoY Change 9.93%
Interest Expense -$5.528M
YoY Change -28.21%
% of Operating Profit -11.48%
Other Income/Expense, Net $4.839M
YoY Change -54.13%
Pretax Income $44.58M
YoY Change -4.51%
Income Tax $3.644M
% Of Pretax Income 8.17%
Net Earnings $40.94M
YoY Change 8.14%
Net Earnings / Revenue 24.3%
Basic Earnings Per Share $1.13
Diluted Earnings Per Share $1.13
COMMON SHARES
Basic Shares Outstanding 36.21M 36.18M
Diluted Shares Outstanding 36.21M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.88M
YoY Change 31.64%
Cash & Equivalents $14.88M
Short-Term Investments
Other Short-Term Assets $14.78M
YoY Change -0.07%
Inventory $69.41M
Prepaid Expenses
Receivables $44.63M
Other Receivables $14.74M
Total Short-Term Assets $210.3M
YoY Change -2.81%
LONG-TERM ASSETS
Property, Plant & Equipment $2.233B
YoY Change 7.82%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $116.4M
YoY Change 4.68%
Other Assets $22.27M
YoY Change 3.67%
Total Long-Term Assets $2.539B
YoY Change 6.94%
TOTAL ASSETS
Total Short-Term Assets $210.3M
Total Long-Term Assets $2.539B
Total Assets $2.749B
YoY Change 6.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $45.71M
YoY Change -14.71%
Accrued Expenses $25.22M
YoY Change 23.01%
Deferred Revenue
YoY Change
Short-Term Debt $48.50M
YoY Change 120.45%
Long-Term Debt Due $5.250M
YoY Change 2.7%
Total Short-Term Liabilities $149.6M
YoY Change 21.79%
LONG-TERM LIABILITIES
Long-Term Debt $715.3M
YoY Change 3.66%
Other Long-Term Liabilities $63.75M
YoY Change -33.67%
Total Long-Term Liabilities $689.2M
YoY Change 7.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $149.6M
Total Long-Term Liabilities $689.2M
Total Liabilities $838.8M
YoY Change 9.61%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.195B
YoY Change
Total Liabilities & Shareholders Equity $2.749B
YoY Change 6.13%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $40.94M
YoY Change 8.14%
Depreciation, Depletion And Amortization $27.10M
YoY Change 7.13%
Cash From Operating Activities $79.40M
YoY Change 18.51%
INVESTING ACTIVITIES
Capital Expenditures $52.44M
YoY Change 23.1%
Acquisitions
YoY Change
Other Investing Activities -$1.660M
YoY Change -20.95%
Cash From Investing Activities -$54.10M
YoY Change 21.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -26.43M
YoY Change -3.54%
NET CHANGE
Cash From Operating Activities 79.40M
Cash From Investing Activities -54.10M
Cash From Financing Activities -26.43M
Net Change In Cash -1.131M
YoY Change -77.82%
FREE CASH FLOW
Cash From Operating Activities $79.40M
Capital Expenditures $52.44M
Free Cash Flow $26.96M
YoY Change 10.49%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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MGE Energy, Inc.
dei Entity Incorporation State Country Code
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dei Entity Address Address Line1
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133 South Blair Street
dei Entity Address City Or Town
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CY2024Q3 us-gaap Capitalization Longterm Debt And Equity
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15026000
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CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Investment
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CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21
CY2024Q3 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2024Q3 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Investment
EffectiveIncomeTaxRateReconciliationTaxCreditsInvestment
0.02
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Investment
EffectiveIncomeTaxRateReconciliationTaxCreditsInvestment
0.006
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EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.107
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
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CY2024Q3 us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
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CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
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CY2024Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
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CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
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CY2024Q3 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
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CY2024Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.082
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
0.009
CY2024Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.057
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
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EffectiveIncomeTaxRateReconciliationOtherAdjustments
0
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
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CY2024Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
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us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
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us-gaap Effective Income Tax Rate Reconciliation Tax Credits Investment
EffectiveIncomeTaxRateReconciliationTaxCreditsInvestment
0.022
us-gaap Effective Income Tax Rate Reconciliation Tax Credits Investment
EffectiveIncomeTaxRateReconciliationTaxCreditsInvestment
0.007
us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.108
us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.054
us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
0.006
us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
0.006
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.061
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.016
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
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EffectiveIncomeTaxRateContinuingOperations
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us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.188
CY2024Q3 mgee Defined Benefit Plan Deferred Net Periodic Benefit Costs
DefinedBenefitPlanDeferredNetPeriodicBenefitCosts
-500000
mgee Defined Benefit Plan Deferred Net Periodic Benefit Costs
DefinedBenefitPlanDeferredNetPeriodicBenefitCosts
-3100000
CY2023Q3 mgee Defined Benefit Plan Deferred Net Periodic Benefit Costs
DefinedBenefitPlanDeferredNetPeriodicBenefitCosts
1600000
mgee Defined Benefit Plan Deferred Net Periodic Benefit Costs
DefinedBenefitPlanDeferredNetPeriodicBenefitCosts
2400000
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29176
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
29176
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2600000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2600000
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26302
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.189
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0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.062
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.063
us-gaap Effective Income Tax Rate Reconciliation Tax Credits Investment
EffectiveIncomeTaxRateReconciliationTaxCreditsInvestment
0.022
us-gaap Effective Income Tax Rate Reconciliation Tax Credits Investment
EffectiveIncomeTaxRateReconciliationTaxCreditsInvestment
0.007
us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.108
us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.054
us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
0.006
us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
0.006
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.061
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.016
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.001
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.002
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us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.188
CY2024Q3 mgee Defined Benefit Plan Deferred Net Periodic Benefit Costs
DefinedBenefitPlanDeferredNetPeriodicBenefitCosts
-500000
mgee Defined Benefit Plan Deferred Net Periodic Benefit Costs
DefinedBenefitPlanDeferredNetPeriodicBenefitCosts
-3100000
CY2023Q3 mgee Defined Benefit Plan Deferred Net Periodic Benefit Costs
DefinedBenefitPlanDeferredNetPeriodicBenefitCosts
1600000
mgee Defined Benefit Plan Deferred Net Periodic Benefit Costs
DefinedBenefitPlanDeferredNetPeriodicBenefitCosts
2400000
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29176
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
29176
CY2024Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2600000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2600000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
26302
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1200000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3100000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
100000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1800000
CY2024Q3 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
29597000
CY2024Q3 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
59831000
CY2024Q3 us-gaap Purchase Obligation Due In Second Year
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19243000
CY2024Q3 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
2546000
CY2024Q3 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
2546000
CY2024Q3 us-gaap Purchase Obligation Due After Fifth Year
PurchaseObligationDueAfterFifthYear
11224000
CY2021Q4 mgee Deferredfuelrulesmonitoredcosts
Deferredfuelrulesmonitoredcosts
3300000
CY2022Q4 mgee Deferredfuelrulesmonitoredcosts
Deferredfuelrulesmonitoredcosts
8800000
CY2023Q4 mgee Deferredfuelrulesmonitoredcosts
Deferredfuelrulesmonitoredcosts
-7200000
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1200000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3100000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
100000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1800000
CY2024Q3 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
29597000
CY2024Q3 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
59831000
CY2024Q3 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
19243000
CY2024Q3 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
2546000
CY2024Q3 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
2546000
CY2024Q3 us-gaap Purchase Obligation Due After Fifth Year
PurchaseObligationDueAfterFifthYear
11224000
CY2021Q4 mgee Deferredfuelrulesmonitoredcosts
Deferredfuelrulesmonitoredcosts
3300000
CY2022Q4 mgee Deferredfuelrulesmonitoredcosts
Deferredfuelrulesmonitoredcosts
8800000
CY2023Q4 mgee Deferredfuelrulesmonitoredcosts
Deferredfuelrulesmonitoredcosts
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us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<span id="xbrl_ts_19f0b3d21df445be886e63f2614417f2"></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:'Calibri',sans-serif;min-width:fit-content;">As part of its regular operations, MGE enters into contracts, including options, swaps, futures, forwards, and other contractual commitments, to manage its exposure to commodity prices. To the extent that these contracts are derivatives, MGE assesses whether or not the normal purchases or normal sales exclusion applies. For contracts to which this exclusion cannot be applied, the derivatives are recognized in the consolidated balance sheets at fair value. MGE's financial commodity derivative activities are conducted in accordance with its electric and gas risk management program, which is approved by the PSCW and limits the volume MGE can hedge with specific risk management strategies. The maximum length of time over which cash flows related to energy commodities can be hedged is </span><span id="xbrl_cs_4ddf6895c94a44cb82c99bf2bec723df"></span><span style="font-size:10pt;font-family:'Calibri',sans-serif;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:'Calibri',sans-serif;min-width:fit-content;">four</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:'Calibri',sans-serif;min-width:fit-content;"> years</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:'Calibri',sans-serif;min-width:fit-content;">. If the derivative qualifies for regulatory deferral, the derivatives are marked to fair value and are offset with a corresponding regulatory asset or liability depending on whether the derivative is in a net loss or net gain position, respectively. The deferred gain or loss is recognized in earnings in the delivery month applicable to the instrument. Gains and losses related to hedges qualifying for regulatory treatment are refundable or recoverable in gas rates through the Purchased Gas Adjustment (PGA) or in electric rates as a component of the fuel rules mechanism.</span>
CY2024Q3 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
0
CY2023Q4 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
0
CY2024Q3 mgee Counterparties In Default
CounterpartiesInDefault
0
CY2024Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
4200000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
4600000
CY2024Q3 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
1500000
CY2023Q4 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
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Files In Submission

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