---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-067050"
form_type: "8-K"
ticker: "MGEE"
cik: "0001161728"
company_name: "MGE ENERGY INC"
filed_at: "2026-02-24T23:59:59+00:00"
generated_at: "2026-05-16T00:40:14.089138+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# MGE Energy reports 2025 EPS of $3.72 vs $3.33 prior year; renewable projects boost electric segment

## Summary
- Full-year GAAP EPS $3.72, net income $135.9M, vs $3.33 per share / $120.6M in 2024.
- Q4 2025 EPS $0.64, net income $23.3M, vs $0.61 per share / $22.0M a year ago.
- Electric segment earnings rose $11.3M, driven by Darien Solar (25 MW) and Paris BESS (11 MW) startups.
- Gas segment earnings up $2.5M; retail therm deliveries increased ~14% due to 2024 weather normalization.
- Operating revenue for 2025 was $743.7M, up from $676.9M in 2024.

## SEC filing metadata
- accession: 0001193125-26-067050
- form_type: 8-K
- ticker: MGEE
- cik: 0001161728
- company_name: MGE ENERGY INC
- filed_at: 2026-02-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1161728/000119312526067050/0001193125-26-067050-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/61339/000119312526067050/mgee-20260224.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-067050
- JSON: https://secwatch.observer/filing/0001193125-26-067050.json
- Plain text: https://secwatch.observer/filing/0001193125-26-067050.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.