Filing Flows › MGE Energy (MGEE) › Q2 2026 › vs Q2 2025
MGE Energy (MGEE) Q2 2026 vs Q2 2025 (year over year)
MGE Energy's revenue rose $1.7M (+1%) from $159M in Q2 2025 to $161M in Q2 2026. The biggest changes: Electric +$2.1M (+2%); Gas −$324K (-1%). Operating margin 20.2% against 21.5% (-1.2 pts).
MGE Energy, Q2 2026: revenue $161M (+1% year over year), operating margin 20.2%, net earnings $33.4M, operating cash flow $68.1M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 20.2% | 21.5% | -1.2 pts |
| Net margin | 20.7% | 16.6% | +4.1 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Electric | $131M | $129M | $2.1M | +2% |
| Gas | $29.6M | $29.9M | −$324K | -1% |
| Revenue | $161M | $159M | $1.7M | +1% |
| Other income, net | $5.0M | −$4.8M | $9.7M | — |
| Operating profit | $32.6M | $34.2M | −$1.6M | -5% |
| Costs & expenses | $129M | $125M | $3.3M | +3% |
| Pre-tax earnings | $37.6M | $29.5M | $8.2M | +28% |
| Net earnings | $33.4M | $26.5M | $6.9M | +26% |
| Income tax | $4.3M | $3.0M | $1.3M | +44% |
| Share-based compensation | $1.6M | $500K | $1.1M | +220% |
| Working capital & other | $33.2M | $29.1M | $4.1M | +14% |
| Operating cash flow | $68.1M | $56.1M | $12.0M | +21% |
| Capital expenditures | $110M | $64.1M | $45.7M | +71% |
| Negative free cash flow (OCF − capex) | $41.6M | $8.0M | $33.6M | +420% |
Questions
How much did MGE Energy's revenue grow year over year in Q2 2026?
MGE Energy's revenue rose $1.7M (+1%) from $159M in Q2 2025 to $161M in Q2 2026.
What drove MGE Energy's revenue change in Q2 2026?
Electric +$2.1M (+2%); Gas −$324K (-1%).