MGE Misses Q2 Earnings and Revenue Estimates
MGE (NASDAQ: MGEE) came out with quarterly earnings of $0.66 per share, missing the Zacks Consensus Estimate of $0.95 per share. This compares to earnings of $0.79 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -30.53%. A quarter ago, it was expected that this public utility holding company would post earnings of $0.94 per share when it actually produced earnings of $0.93, delivering a surprise of -1.06%.
Over the last four quarters, the company has not been able to surpass consensus EPS estimates.
MGE, which belongs to the Zacks Utility – Electric Power industry, posted revenues of $145.71 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 3.69%. This compares to year-ago revenues of $148 million. The company has not been able to beat consensus revenue estimates over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
MGE shares …
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