Form 8-K
FALSE00011617280000061339 0001161728 2019-11-06 2019-11-06 0001161728 mgee:MgeMember 2019-11-06 2019-11-06

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

 

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

 

 

 

 

November 6, 2019

Date of report (date of earliest event reported)

 

 

Commission

File No.

 

Name of Registrant, State of Incorporation, Address

of Principal Executive Offices, and Telephone No.

 

IRS Employer

Identification No.

 

000-49965

 

 

MGE Energy, Inc.

(a Wisconsin Corporation)

133 South Blair Street

Madison, Wisconsin 53788

(608) 252-7000 | mgeenergy.com

 

 

39-2040501

 

000-1125

 

 

Madison Gas and Electric Company

(a Wisconsin Corporation)

133 South Blair Street

Madison, Wisconsin 53788

(608) 252-7000 | mge.com

 

 

 

39-0444025

 

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:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

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. Madison Gas and Electric Company

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

 

Trading symbol(s)

 

Name of each exchange on which registered

Common Stock, $1 Par Value Per Share

 

MGEE

 

The NASDAQ Stock Market

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

99.1

 

Press release of MGE Energy, Inc., issued on November 6, 2019.

 

 

 

2


 

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)

 

 

 

 

 

 

Date: November 6, 2019

/s/ Jeffrey C. Newman

 

Jeffrey C. Newman

Executive Vice President, Chief Financial Officer,

Secretary and Treasurer

 

3

Exhibit 99.1  

 

 

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.

 

 

MGE Energy, Inc.

 

 

(In thousands, except per share amounts)

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

2019

 

 

2018

 

 

Operating revenue

$

138,198

 

$

137,795

 

 

Operating income

$

38,738

 

$

39,798

 

 

Net income

$

30,657

 

$

29,506

 

 

Earnings per share (basic and diluted)

$

0.88

 

$

0.85

 

 

Weighted average shares outstanding (basic and diluted)

 

34,668

 

 

34,668

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30,

 

2019

 

 

2018

 

 

Operating revenue

$

427,914

 

$

419,689

 

 

Operating income

$

89,032

 

$

90,217

 

 

Net income

$

70,212

 

$

67,858

 

 

Earnings per share (basic and diluted)

$

2.03

 

$

1.96

 

 

Weighted average shares outstanding (basic and diluted)

 

34,668

 

 

34,668

 

 

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

1  


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Nov. 06, 2019
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Entity Address State Or Province WI
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