MGE Energy Q1 2026 Net Income Up 16.6%

By Chris Stiles • Tuesday, May 05 13:52 • Permanent Link

MGE Energy reported first-quarter 2026 net income of $48.5 million, up 16.6% from $41.6 million a year earlier. Earnings per share rose to $1.32 from $1.14.

Operating revenues increased 10.8% to $242.7 million from $219.0 million in the first quarter of 2025. Operating income edged up to $53.2 million from $52.9 million.

The company said electric segment earnings increased by $5.5 million year over year, driven by strategic capital investments that expanded rate base and by renewable energy projects that were put into service. Gas net income was little changed from the prior-year quarter.

Weighted average diluted shares rose slightly to 36.620 million from 36.539 million, while basic shares increased to 36.590 million from 36.511 million. The market has reacted to these announcements by moving the company's shares 0.79% to a price of $80.745. For the full picture, make sure to review MGE ENERGY INC's 8-K report.

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