MGE Energy Q2 FY26 net income rises 26.04% to $33.4 million

Electric utility segment profit rose to $22.6 million from $19.6 million, driven by a higher rate base tied to the 2026/2027 rate case.

All Other segment swung to $2.5 million profit from a $0.2 million loss, reflecting venture capital fund investment gains.

MGE Energy posted net income of $33.4 million for the quarter ended June 30, 2026, up 26.04%, with diluted EPS rising to $0.89 from $0.72.

Six-month net income climbed 20.12% to $81.8 million, lifting diluted EPS to $2.21 from $1.86.

MGE agreed to buy a 33.4% stake in the RockGen Energy Center gas-fired plant for about $203 million, targeting a late-2027 close.