MGE Energy Inc.: Q1 FY2026 earnings call
What management said about Q1 FY2026, from the documents filed with the SEC on 5 May 2026: press release. The quarter’s numbers.
Key takeaways
- Net income rose to $48.5 million: Net income was $48.5 million, against $41.6 million in the first quarter of 2025, on a GAAP basis. Source
- Diluted EPS of $1.32: Diluted earnings per share were $1.32, against $1.14 a year earlier. Basic earnings per share were the same. Source
- Operating revenues reached $242.7 million: Operating revenues were $242.7 million, compared with $219.0 million for the first quarter of 2025. Source
- Electric earnings up $5.5 million: Electric segment earnings rose $5.5 million for 2026 compared to 2025, attributed to strategic capital investments that grew rate base. Source
- Renewable projects drive electric growth: Management said the electric growth remains largely driven by the successful deployment of key renewable energy projects. Source
- Gas net income steady: Gas net income was steady, with minimal variation from the first quarter of 2025. The release gives no gas dollar figure. Source
“This growth remains largely driven by the successful deployment of key renewable energy projects.”
MGE Energy Inc., press release
Quarterly results
- Net income rose to $48.5 million: Net income was $48.5 million, against $41.6 million in the first quarter of 2025, on a GAAP basis. Source
- Diluted EPS of $1.32: Diluted earnings per share were $1.32, against $1.14 a year earlier. Basic earnings per share were the same. Source
- Operating revenues reached $242.7 million: Operating revenues were $242.7 million, compared with $219.0 million for the first quarter of 2025. Source
- Operating income little changed: Operating income was $53.2 million, compared with $52.9 million a year earlier. Source
Electric and gas segments
- Electric earnings up $5.5 million: Electric segment earnings rose $5.5 million for 2026 compared to 2025, attributed to strategic capital investments that grew rate base. Source
- Renewable projects drive electric growth: Management said the electric growth remains largely driven by the successful deployment of key renewable energy projects. Source
- Gas net income steady: Gas net income was steady, with minimal variation from the first quarter of 2025. The release gives no gas dollar figure. Source
“Gas net income exhibited steady performance, with minimal variation compared to the first quarter of 2025.”
MGE Energy Inc., press release
Customers and service territory
- Public utility holding company: MGE Energy is a public utility holding company, with Madison Gas and Electric as its principal subsidiary. Source
- Electric service to 170,000 customers: Madison Gas and Electric generates and distributes electricity to 170,000 customers in Dane County, Wisconsin. Source
- Gas service to 180,000 customers: Madison Gas and Electric purchases and distributes natural gas to 180,000 customers across seven counties. Source
- Roots date back 150 years: The company says its roots in the Madison area date back more than 150 years. Source
Share count
- Basic weighted shares 36.6 million: Basic weighted average shares outstanding were 36,590 thousand, against 36,511 thousand a year earlier. Source
- Diluted weighted shares 36.6 million: Diluted weighted average shares were 36,620 thousand, against 36,539 thousand a year earlier. Source
- Figures in thousands, unaudited: Figures are in thousands except per-share amounts, and the table is unaudited. Source
Reporting basis and timing
- Earnings reported on GAAP basis: The reported earnings are stated under GAAP, as the release names that framework. Source
- Results released May 5, 2026: The company reported first-quarter 2026 results on May 5, 2026, and is listed on Nasdaq as MGEE. Source
- Each figure set against 2025: Each figure is shown next to the same period of 2025 in the comparative columns. Source
Contacts and disclosure of leadership
- Media contact named: Steve B. Schultz is listed as the Media Relations contact, at 608-252-7219. Source
- Investor relations contact named: Ken Frassetto is listed as the Investor Relations contact, at 608-252-4723. Source
- No executive quoted in release: The release names no executive and contains no attributed commentary from one. Source
Figures management reported
| Figure | Reported |
|---|---|
| Rate base growth Source | grew; no figure given |
| Electric customers Source | 170,000 |
| Gas customers Source | 180,000 |
Other quarters
Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.