MGE Energy (MGEE) Q2 FY2026 earnings: revenue $161 million, up 1.1% on the year

MGE Energy Inc. (MGEE) reported revenue of $161 million for Q2 FY2026, the quarter ended 30 June 2026, up 1.1% on the same quarter a year earlier. Net income was $33 million, up 25.9% on the year, and diluted earnings per share $0.89. The figures are the company's own, from the 10-Q it filed with the SEC on 5 August 2026.

Revenue$161 millionup 1.1%

Net income$33 millionup 25.9%

Diluted EPS$0.89

QuarterQ2 FY2026ended 30 June 2026

The quarter, against the one before and a year earlier

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Revenue	161	243	159	+1.1%
Operating income	32.6	53.2	34.2	-4.6%
Operating margin	20.2%	21.9%	21.5%
Income tax	4.3	5.9	3.0	+43.8%
Net income	33.4	48.5	26.5	+25.9%
Net margin	20.7%	20.0%	16.6%
Diluted EPS	$0.89	$1.32	$0.72	+23.6%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Operating cash flow	68.1	80.7	56.1	+21.5%
Capital expenditure	110	101	64.1	+71.2%
Free cash flow	-41.6	-20.4	-8.0	n/a
Free cash flow margin	-25.8%	-8.4%	-5.0%
Cash from investing	-111	-105	-67.7	n/a
Cash from financing	49.9	28.5	-12.0	n/a
Share-based compensation	1.6	1.1	0.5	+220.0%
Dividends paid	17.9	17.4	16.4	+9.0%
Dividend per share	$0.47	$0.47	$0.45	+5.6%
Diluted shares, weighted	37m	37m	37m	+2.4%
Shares outstanding at period end	38m	37m	37m	+3.4%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Shareholders' equity	1,441	1,349	1,270	+13.4%
Short-term borrowings	34.8	40.2	5.5	+531.8%
Debt	879	880	761	+15.5%
Other liabilities	946	916	824	+14.8%
Total liabilities and equity	3,300	3,186	2,861	+15.4%
Fixed assets	2,710	2,609	2,341	+15.8%
Cash and equivalents	16.6	9.5	10.6	+57.3%
Receivables	42.3	59.0	43.3	-2.3%
Other assets	531	509	466	+14.0%
Total assets	3,300	3,186	2,861	+15.4%

Questions

What was MGE Energy's revenue in Q2 FY2026?

MGE Energy (MGEE) reported revenue of $161 million for Q2 FY2026, the quarter ended 30 June 2026, up 1.1% on the same quarter a year earlier.

How much did MGE Energy earn in Q2 FY2026?

Net income for Q2 FY2026 was $33 million, up 25.9% on the year, and diluted earnings per share $0.89.

When did MGE Energy report Q2 FY2026 results?

MGE Energy filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 5 August 2026.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	161	165	191	146	168	171	219	159	176	190	243	161
Operating income	43.8	24.2	40.7	29.7	48.1	27.6	52.9	34.2	51.1	32.5	53.2	32.6
Operating margin	27%	15%	21%	20%	29%	16%	24%	21%	29%	17%	22%	20%
Net income	37.9	20.1	33.8	23.8	40.9	22.0	41.6	26.5	44.5	23.3	48.5	33.4
Net margin	24%	12%	18%	16%	24%	13%	19%	17%	25%	12%	20%	21%
Diluted EPS	$1.05	$0.55	$0.93	$0.66	$1.13	$0.61	$1.14	$0.72	$1.22	$0.64	$1.32	$0.89
Operating cash flow	67.0	43.5	65.8	64.6	79.4	67.9	77.9	56.1	94.8	34.5	80.7	68.1
Capital expenditure	42.6	71.8	44.8	66.9	52.4	72.9	47.7	64.1	144	87.6	101	110
Free cash flow	24.4	-28.2	21.0	-2.2	27.0	-4.9	30.2	-8.0	-49.1	-53.1	-20.4	-41.6
Dividends paid	15.5	15.5	15.5	15.5	16.3	16.4	16.4	16.4	17.4	17.4	17.4	17.9
Shares outstanding	36m	36m	36m	36m	36m	36m	37m	37m	37m	37m	37m	38m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2026, filed 5 August 2026, accession 0001193125-26-333969: the filing on EDGAR. All of MGE Energy Inc.'s filings: EDGAR company page.

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