MGE Energy Inc.
11/04/2026 | Press release | Distributed by Public on 11/04/2026 07:41
News MGE Energy Reports Third-Quarter 2026 Earnings (Form 8-K)
News
MGE Energy Reports Third-Quarter 2026 Earnings
Madison, Wis., November 04, 2026-MGE Energy, Inc. (Nasdaq: MGEE), today reported financial results for the third quarter of 2026.
MGE Energy's GAAP (Generally Accepted Accounting Principles) earnings for the third quarter of 2026 were $56.4 million, or $1.48 per diluted share, compared to $44.5 million, or $1.22 per diluted share, for the same period in the prior year.
Electric segment earnings increased $11.6 million for 2026 compared to 2025, reflecting strategic capital investments that grew rate base, largely driven by the successful deployment of key renewable energy projects. The increase also reflected higher allowance for funds used during construction (AFUDC) equity associated with the construction of Koshkonong, High Noon, Sunnyside, and other early development projects. AFUDC equity from these projects increased $3.3 million compared to the same period in the prior year. Gas net income remained stable compared to the third quarter of 2025. In addition, earnings benefited from an approximately $2.2 million increase in investment gains compared to the third quarter of 2025, including returns from venture capital funds focused on technologies and innovations relevant to the evolving energy industry.
MGE Energy, Inc.
(In thousands, except per-share amounts)
(Unaudited)
|
Three Months Ended September 30, |
2026 |
2025 |
||||||
|
Operating revenues |
$ |
190,397 |
$ |
175,679 |
||||
|
Operating income |
$ |
58,083 |
$ |
51,075 |
||||
|
Net income |
$ |
56,358 |
$ |
44,497 |
||||
|
Earnings per share - basic |
$ |
1.49 |
$ |
1.22 |
||||
|
Earnings per share - diluted |
$ |
1.48 |
$ |
1.22 |
||||
|
Weighted average shares outstanding - basic |
37,791 |
36,542 |
||||||
|
Weighted average shares outstanding - diluted |
38,018 |
36,576 |
||||||
|
Nine Months Ended September 30, |
2026 |
2025 |
||||||
|
Operating revenues |
$ |
594,295 |
$ |
554,101 |
||||
|
Operating income |
$ |
143,869 |
$ |
138,163 |
||||
|
Net income |
$ |
138,192 |
$ |
112,587 |
||||
|
Earnings per share - basic |
$ |
3.71 |
$ |
3.08 |
||||
|
Earnings per share - diluted |
$ |
3.70 |
$ |
3.08 |
||||
|
Weighted average shares outstanding - basic |
37,248 |
36,531 |
||||||
|
Weighted average shares outstanding - diluted |
37,373 |
36,565 |
||||||
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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.
MGE Energy Inc. published this content on November 04, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on November 04, 2026 at 13:41 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]