AI-extracted from the 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
MGE Energy earned $0.89 per diluted share in Q2 2026 (+24% YoY), driven by higher electric rates, transmission investment income, and venture capital gains, despite flat utility revenues.
Biggest Revenue Drivers
Electric revenues$131.4M+1.6% YoY
Rate increases and customer fixed/demand charges offset by lower sales to market.
Gas revenues$29.6M-1.1% YoY
Volume decline and lower costs partially offset by rate changes and customer growth.
Biggest Revenue Drivers
Total revenue: $161.2M+1.1% YoY
Electric revenues$131.4M+1.6% YoY
Rate increases and customer fixed/demand charges offset by lower sales to market.
Gas revenues$29.6M-1.1% YoY
Volume decline and lower costs partially offset by rate changes and customer growth.
Largest Expense Items
Fuel for electric generation$12.9M-21% YoY
23% decrease in internal generation due to lower sales, partially offset by 2% higher average cost.
Other operations and maintenance$65.2M+13% YoY
Increased administrative, transmission, and production expenses, primarily from higher pension costs.
Cost of gas sold$9.3M-18% YoY
Lower therms delivered and 14% decrease in cost per therm.
Watch Items from the Filing
Solar procurement disruptions from UFLPA and DOC tariffs could increase project costs or delay timelines; MGE seeking regulatory recovery.
Forward sale agreements for $250M public offering (Feb 2026) create earnings per share dilution risk upon settlement through Jan 2028.
2027 electric rate increase of 3.63% and gas increase of 2.04% approved in 2026/2027 settlement to support rate base growth.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Ackerman Patricia KReporting ownerGrant or award · Mar 2, 2026
Anderson Marcia MReporting ownerGrant or award · Mar 2, 2026
Dewey Londa JReporting ownerGrant or award · Mar 2, 2026
Kelly Daniel JamesReporting ownerGrant or award · Mar 2, 2026
Possin James LReporting ownerGrant or award · Mar 2, 2026
Wolter Gary JReporting ownerGrant or award · Mar 2, 2026
Wray Noble LynnwoodReporting ownerGrant or award · Mar 2, 2026
Rieger Angela S.Reporting ownerGrant or award · Mar 2, 2026
Keebler Jeffrey MChairman, President & CEOGrant or award · Mar 2, 2026
About MGE ENERGY INC (MGEE): stock profile, AI score and financials
MGE ENERGY INC (MGEE) stock profile, AI quality score, and SEC EDGAR financial data, a Utilities sector company. 13F Pro's AI-powered ranking engine scores MGEE at 52.2/100 on a composite quality score built from its SEC filings, placing it at rank #1,488 of 2,925 stocks — the bottom half of the AI-ranked universe. MGEE scores in the top quartile across institutional flow (90.9), profitability (77.6). Areas of concern include free cash flow (13.1) and earnings quality (32.1), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), MGE ENERGY INC reports quarterly revenue of $161.2M, net income of $33.4M, an operating margin of 20.3%. Top institutional holders of MGEE by reported 13-F value include BlackRock, VANGUARD PORTFOLIO MANAGEMENT, STATE STREET, based on the most recent SEC filings. MGEE trades on the Nasdaq exchange and files with the SEC under CIK 1161728. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate MGEE daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for MGE ENERGY INC directly from SEC EDGAR.