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MGE Energy Inc

MGE Energy Reports First-Quarter 2026 Earnings

MADISON, Wis.--(BUSINESS WIRE)--May 5, 2026-- MGE Energy, Inc. (Nasdaq: MGEE), today reported financial results for the first quarter of 2026.

MGE Energy's GAAP (Generally Accepted Accounting Principles) earnings for the first quarter of 2026 were $48.5 million, or $1.32 per share, compared to $41.6 million, or $1.14 per share, for the same period in the prior year.

Electric segment earnings increased $5.5 million for 2026 compared to 2025, a result of strategic capital investments that grew rate base. This growth remains largely driven by the successful deployment of key renewable energy projects.

Gas net income exhibited steady performance, with minimal variation compared to the first quarter of 2025.

MGE Energy, Inc.

(In thousands, except per-share amounts)

(Unaudited)

Three Months Ended March 31,

 

2026

 

 

2025

 

Operating revenues

 

$

242,703

 

 

$

218,970

 

Operating income

 

$

53,152

 

 

$

52,865

 

Net income

 

$

48,481

 

 

$

41,592

 

Earnings per share - basic

 

$

1.32

 

 

$

1.14

 

Earnings per share - diluted

 

$

1.32

 

 

$

1.14

 

Weighted average shares outstanding - basic

 

 

36,590

 

 

 

36,511

 

Weighted average shares outstanding - diluted

 

 

36,620

 

 

 

36,539

 

About MGE Energy

MGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric, generates and distributes electricity to 170,000 customers in Dane County, Wis., and purchases and distributes natural gas to 180,000 customers in seven south-central and western Wisconsin counties. MGE's roots in the Madison area date back more than 150 years.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are based on MGE Energy's current expectations, estimates and assumptions regarding future events, which are inherently uncertain. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to revise or update publicly any such forward-looking statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to our business in general, please refer to the “Risk Factors” sections in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission.

Steve B. Schultz
Media Relations
608-252-7219 | sbschultz@mge.com

Ken Frassetto
Investor Relations
608-252-4723 | kfrassetto@mge.com

Source: MGE Energy, Inc.