Equity Profile

MGEE

MGE Energy, Inc.

UtilitiesElectric Utilities$2.9B

Aug5Wed

Pre-Earnings Brief

UpcomingQ2-2026After Close1:00 PM EDT

Company Snapshot

MGE Energy, Inc. is a utility company that provides electric services to customers in Wisconsin....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well the company is managing costs and revenues.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is vital for long-term sustainability.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

MGEE Q2-2026 Earnings Preview

Context

Company Snapshot

MGE Energy, Inc. is a utility company that provides electric services to customers in Wisconsin. As a player in the electric utilities sector, it plays a crucial role in energy distribution and is influenced by trends in renewable energy and regulatory changes.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

38%

Avg EPS Surprise

-4.17%

Avg Stock Reaction

+1.41%

Last Quarter Recap

In the last quarter, MGE Energy reported an EPS of $1.32, exceeding expectations by 16.81%. The stock reacted positively, gaining 0.80% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of the earnings report, given the company's recent performance. However, there is uncertainty due to the lack of analyst estimates.

Bull Case

If MGE Energy continues to beat EPS estimates and shows strong revenue growth, it could signal robust operational performance and market confidence.

Bear Case

Conversely, any signs of declining customer growth or increased operational costs could lead to negative sentiment and a drop in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected EPS for this quarter?

The EPS figure will be critical in assessing the company's profitability and operational efficiency, especially given the recent positive surprise.

How has customer growth trended in the last quarter?

Customer growth is essential for future revenue and indicates the company's ability to attract and retain clients in a competitive market.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for MGE Energy to exceed EPS expectations due to recent operational improvements not reflected in analyst models.

Supporting Evidence

The company has a history of beating EPS estimates, as seen in the last quarter's surprise of +16.81%.

Options pricing suggests a significant move, indicating that investors are anticipating volatility that could favor a positive outcome.

Key Risk

If customer growth exceeds expectations, it could significantly alter the market's perception of the company's future prospects.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will be closely watched as it could set the tone for future growth and investor confidence.

Bull Confirmed If

An EPS of $1.40 or higher would confirm strong operational performance and market confidence.

Bear Confirmed If

An EPS below $1.10 would indicate potential issues in profitability and could lead to negative market sentiment.

Pre-Earnings Positioning

Options Market

Implied Move

±13.38%

Historical Avg

±1.8%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±13.4% while MGEE has averaged ±1.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.4%

30d HV

29.0%

Calls (300)P/C Ratio: 4.00Puts (0)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Utilities

n=30

Fade rate: 6 of 30 (20%)

This setup has occurred 30 times across Utilities in the last 2 years. 24 of 30 (80%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 1.5%, with a raw directional average of -0.7% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If MGE Energy beats expectations, history suggests a potential stock increase of around +1.06%, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

Should the company miss expectations, history suggests a potential decrease of around +1.75%, raising concerns about operational challenges.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on customer growth trends and how they compare to previous quarters.
2Details on operational efficiencies that may have contributed to EPS performance.
3Management's outlook on future revenue growth and market conditions.
4Insights into regulatory changes that could impact operations.
5Any commentary on investments in renewable energy initiatives.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

Aug3

ONBMO

ON Semiconductor Corporation

PreviewView

Aug3

LBMO

Company Snapshot

MGE Energy, Inc. is a utility company that provides electric services to customers in Wisconsin....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well the company is managing costs and revenues.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its customer base and increase sales, which is vital for long-term sustainability.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

MGEE Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

38%

Avg EPS Surprise

-4.17%

Avg Stock Reaction

+1.41%

Last Quarter Recap

In the last quarter, MGE Energy reported an EPS of $1.32, exceeding expectations by 16.81%. The stock reacted positively, gaining 0.80% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of the earnings report, given the company's recent performance. However, there is uncertainty due to the lack of analyst estimates.

Bull Case

If MGE Energy continues to beat EPS estimates and shows strong revenue growth, it could signal robust operational performance and market confidence.

Bear Case

Conversely, any signs of declining customer growth or increased operational costs could lead to negative sentiment and a drop in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the expected EPS for this quarter?

The EPS figure will be critical in assessing the company's profitability and operational efficiency, especially given the recent positive surprise.

How has customer growth trended in the last quarter?

Customer growth is essential for future revenue and indicates the company's ability to attract and retain clients in a competitive market.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for MGE Energy to exceed EPS expectations due to recent operational improvements not reflected in analyst models.

Supporting Evidence

The company has a history of beating EPS estimates, as seen in the last quarter's surprise of +16.81%.

Options pricing suggests a significant move, indicating that investors are anticipating volatility that could favor a positive outcome.

Key Risk

If customer growth exceeds expectations, it could significantly alter the market's perception of the company's future prospects.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will be closely watched as it could set the tone for future growth and investor confidence.

Bull Confirmed If

An EPS of $1.40 or higher would confirm strong operational performance and market confidence.

Bear Confirmed If

An EPS below $1.10 would indicate potential issues in profitability and could lead to negative market sentiment.

Pre-Earnings Positioning

Options Market

Implied Move

±13.38%

Historical Avg

±1.8%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±13.4% while MGEE has averaged ±1.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.4%

30d HV

29.0%

Calls (300)P/C Ratio: 4.00Puts (0)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Utilities

n=30

Fade rate: 6 of 30 (20%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If MGE Energy beats expectations, history suggests a potential stock increase of around +1.06%, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

Should the company miss expectations, history suggests a potential decrease of around +1.75%, raising concerns about operational challenges.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on customer growth trends and how they compare to previous quarters.
2Details on operational efficiencies that may have contributed to EPS performance.
3Management's outlook on future revenue growth and market conditions.
4Insights into regulatory changes that could impact operations.
5Any commentary on investments in renewable energy initiatives.