MGE ENERGY INC — Form 8-K
Filed November 4, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 42/100
What the filing says
MGE Energy reported Q3 2026 GAAP earnings of $56.4M ($1.48/diluted share) vs. $44.5M ($1.22/share) in Q3 2025, a 27% increase. Nine-month 2026 earnings reached $138.2M ($3.70/diluted share) vs. $112.6M ($3.08/share) in 2025, up 23%. Growth driven by $11.6M electric segment increase from renewable energy projects (Koshkonong, High Noon, Sunnyside), $3.3M AFUDC equity gains, and $2.2M investment gains; gas segment stable; revenue up 8.3% YoY to $190.4M in Q3.
Why this rating
Solid earnings growth but ordinary for mature utility. $56.4M quarterly profit is ~7% of $3.2B market cap; modest scale. Routine renewables deployment and stable operations; no major M&A, restructuring, or guidance surprise.
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