NASDAQ: MGEE
MGE ENERGY INCCIK 0001161728 · SIC 4900 · Electric, Gas & Sanitary Services
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MGE Energy announces planned retirement of VP Energy Operations, names internal successor
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MGE Energy shareholders approve directors, auditor, and executive pay at annual meeting
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MGE Energy posts investor presentation, to attend AGA Financial Forum May 17-18
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MGE Energy raises capital via 3.3M share offering with forward sale structure
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net income $48.5M. MGE Energy Q1 EPS rises 16% to on rate settlement; gas plant buy announced
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MGE Energy reports Q1 2026 earnings in routine disclosure
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Latest financial statements
From 10-Q filed Aug 5, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Income (Unaudited)
(In thousands, except per share amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Operating Revenues: | ||||
| Electric revenues | 131,594 | 129,527 | 263,034 | 255,016 |
| Gas revenues | 29,601 | 29,925 | 140,864 | 123,406 |
| Total Operating Revenues | 161,195 | 159,452 | 403,898 | 378,422 |
| Operating Expenses: | ||||
| Fuel for electric generation | 12,907 | 16,292 | 33,216 | 33,861 |
| Purchased power | 5,813 | 5,562 | 8,280 | 9,940 |
| Cost of gas sold | 9,285 | 11,313 | 80,108 | 65,277 |
| Other operations and maintenance | 65,242 | 57,777 | 126,810 | 114,336 |
| Depreciation and amortization | 28,939 | 28,354 | 57,028 | 56,032 |
| Other general taxes | 6,375 | 5,931 | 12,670 | 11,888 |
| Total Operating Expenses | 128,561 | 125,229 | 318,112 | 291,334 |
| Operating Income | 32,634 | 34,223 | 85,786 | 87,088 |
| Other income, net | 14,286 | 3,707 | 25,276 | 6,311 |
| Interest expense, net | (9,288) | (8,457) | (19,093) | (16,038) |
| Income before income taxes | 37,632 | 29,473 | 91,969 | 77,361 |
| Income tax provision | (4,279) | (2,975) | (10,135) | (9,271) |
| Net Income | 33,353 | 26,498 | 81,834 | 68,090 |
| Earnings Per Share of Common Stock | ||||
| Basic | 0.89 | 0.73 | 2.21 | 1.86 |
| Diluted | 0.89 | 0.72 | 2.21 | 1.86 |
| Dividends per share of common stock | 0.475 | 0.450 | 0.950 | 0.900 |
| Weighted Average Shares Outstanding | ||||
| Basic | 37,351 | 36,540 | 36,972 | 36,526 |
| Diluted | 37,456 | 36,569 | 37,029 | 36,557 |
Consolidated Balance Sheets (Unaudited)
(In thousands)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Current Assets: | ||
| Cash and cash equivalents | 16,621 | 5,666 |
| Accounts receivable, less reserves of $11,049 and $8,578, respectively | 42,330 | 57,558 |
| Other accounts receivable, less reserves of $2,318 and $2,084, respectively | 14,421 | 12,983 |
| Unbilled revenues | 29,967 | 42,770 |
| Materials and supplies, at average cost | 38,553 | 37,850 |
| Fuel for electric generation, at average cost | 12,753 | 11,010 |
| Stored natural gas, at average cost | 13,671 | 15,317 |
| Prepaid taxes | 19,123 | 19,314 |
| Regulatory assets current | 8,705 | 8,879 |
| Other current assets | 14,751 | 17,201 |
| Total Current Assets | 210,895 | 228,548 |
| Regulatory assets | 51,244 | 42,758 |
| Pension and other postretirement benefit asset | 172,412 | 164,985 |
| Other deferred assets and other | 19,872 | 18,348 |
| Property, Plant, and Equipment: | ||
| Property, plant, and equipment, net | 2,337,481 | 2,279,899 |
| Construction work in progress | 372,628 | 292,969 |
| Total Property, Plant, and Equipment | 2,710,109 | 2,572,868 |
| Investments | 135,673 | 127,913 |
| Total Assets | 3,300,205 | 3,155,420 |
| LIABILITIES AND CAPITALIZATION | ||
| Current Liabilities: | ||
| Long-term debt due within one year | 20,509 | 21,633 |
| Short-term debt | 34,750 | 94,527 |
| Accounts payable | 66,836 | 117,673 |
| Accrued interest and taxes | 12,127 | 10,269 |
| Accrued payroll related items | 15,742 | 17,244 |
| Regulatory liabilities current | 23,801 | 23,490 |
| Other current liabilities | 11,799 | 11,873 |
| Total Current Liabilities | 185,564 | 296,709 |
| Other Credits: | ||
| Deferred income taxes | 340,423 | 337,798 |
| Investment tax credit deferred | 61,466 | 48,609 |
| Regulatory liabilities | 197,539 | 185,372 |
| Accrued pension and other postretirement benefits | 51,452 | 51,105 |
| Asset retirement obligations | 79,395 | 76,289 |
| Other deferred liabilities and other | 64,743 | 63,397 |
| Total Other Credits | 795,018 | 762,570 |
| Capitalization: | ||
| Common shareholders' equity | 1,440,519 | 1,303,936 |
| Long-term debt | 879,104 | 792,205 |
| Total Capitalization | 2,319,623 | 2,096,141 |
| Commitments and contingencies (see Footnote 8) | ||
| Total Liabilities and Capitalization | 3,300,205 | 3,155,420 |
Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Operating Activities: | ||
| Net income | 81,834 | 68,090 |
| Adjustments to reconcile net income to cash provided by operating activities | ||
| Depreciation and amortization | 57,028 | 56,032 |
| Deferred income taxes | 5,518 | 2,578 |
| Provision for doubtful receivables | 3,513 | 4,400 |
| Employee benefit plan credit | (4,232) | (2,320) |
| Cash contributions to pension and other postretirement plans | (3,752) | (3,800) |
| Equity earnings in investments | (7,336) | (6,241) |
| Dividends from investments | 5,545 | 6,008 |
| Changes in assets and liabilities | ||
| Current assets | 23,420 | 13,105 |
| Accounts payable | (21,055) | (13,491) |
| Deferred income taxes | 9,532 | — |
| Other current liabilities | 298 | (2,309) |
| Regulatory assets and liabilities, net | 9,995 | 7,381 |
| Other, net | (11,480) | 4,520 |
| Cash Provided by Operating Activities | 148,828 | 133,953 |
| Investing Activities: | ||
| Capital expenditures | (210,906) | (111,753) |
| Capital contributions to investments | (7,714) | (5,871) |
| Other | 2,287 | (630) |
| Cash Used for Investing Activities | (216,333) | (118,254) |
| Financing Activities: | ||
| Issuance of common stock, net | 88,948 | 3,750 |
| Cash dividends paid on common stock | (35,299) | (32,872) |
| Repayments of long-term debt | (3,897) | (2,625) |
| Issuance of long-term debt | 90,000 | — |
| (Repayments of) proceeds from short-term debt | (59,777) | 5,500 |
| Other | (1,523) | (812) |
| Cash Provided by (Used for) Financing Activities | 78,452 | (27,059) |
| Change in cash, cash equivalents, and restricted cash | 10,947 | (11,360) |
| Cash, cash equivalents, and restricted cash at beginning of period | 8,736 | 24,496 |
| Cash, cash equivalents, and restricted cash at end of period | 19,683 | 13,136 |
Amounts as printed on the EDGAR/iXBRL face — (In thousands, except per share amounts); (In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗