# EDGAR Filing Document

**Accession Number:** 0000061339
**File Stem:** 0000950170-25-103696
**Filing Date:** 2025-8
**Character Count:** 12153
**Document Hash:** 7f9246eba019a6496cf5c0d0cfd055b0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-25-103696.hdr.sgml**: 20250806

**ACCESSION NUMBER**: 0000950170-25-103696

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 37

**CONFORMED PERIOD OF REPORT**: 20250806

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250806

**DATE AS OF CHANGE**: 20250806

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MGE ENERGY INC
- **CENTRAL INDEX KEY:** 0001161728
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC, GAS & SANITARY SERVICES [4900]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 392040501
- **STATE OF INCORPORATION:** WI
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-49965
- **FILM NUMBER:** 251188365

**BUSINESS ADDRESS:**
- **STREET 1:** 133 SOUTH BLAIR STREET
- **STREET 2:** PO BOX 1231
- **CITY:** MADISON
- **STATE:** WI
- **ZIP:** 53701-1231
- **BUSINESS PHONE:** (608) 252-7000

**MAIL ADDRESS:**
- **STREET 1:** 133 SOUTH BLAIR STREET
- **STREET 2:** PO BOX 1231
- **CITY:** MADISON
- **STATE:** WI
- **ZIP:** 53701-1231
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MADISON GAS & ELECTRIC CO
- **CENTRAL INDEX KEY:** 0000061339
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC & OTHER SERVICES COMBINED [4931]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 390444025
- **STATE OF INCORPORATION:** WI
- **FISCAL YEAR END:** 1025

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-01125
- **FILM NUMBER:** 251188366

**BUSINESS ADDRESS:**
- **STREET 1:** 133 SOUTH BLAIR STREET
- **STREET 2:** PO BOX 1231
- **CITY:** MADISON
- **STATE:** WI
- **ZIP:** 53701-1231
- **BUSINESS PHONE:** (608) 252-7000

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 1231
- **CITY:** MADISON
- **STATE:** WI
- **ZIP:** 53701-1231

?xml version='1.0' encoding='ASCII'? 8-K

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| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**UNITED STATES**<br>**SECURITIES AND EXCHANGE COMMISSION**<br>**Washington, D.C. 20549**<br>|  |
|  | &nbsp;&nbsp;**FORM** 8-K<br>**CURRENT REPORT**<br>**Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934** |  |
|  | &nbsp;&nbsp;August 6, 2025<br>Date of report (date of earliest event reported) |  |
| &nbsp;&nbsp;&nbsp;**Commission**<br>**File No.** | &nbsp;&nbsp;&nbsp;&nbsp;**Name of Registrant, State of Incorporation, Address**<br>**of Principal Executive Offices, and Telephone No.** | &nbsp;&nbsp;**IRS Employer**<br>**Identification No.** |
| &nbsp;&nbsp; <br>000-49965 | &nbsp;&nbsp;**MGE Energy, Inc.**<br>*(a* Wisconsin *Corporation)*<br>133 South Blair Street<br>Madison, Wisconsin 53788<br>(608) 252-7000 \| mgeenergy.com | &nbsp;&nbsp; <br>39-2040501 |
| &nbsp;&nbsp; <br>000-1125 | &nbsp;&nbsp;**Madison Gas and Electric Company**<br>*(a* Wisconsin *Corporation)*<br>133 South Blair Street<br>Madison, Wisconsin 53788<br>(608) 252-7000 \| mge.com<br>| &nbsp;&nbsp; <br>39-0444025 |

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | |
|:---|:---|
| &nbsp;&nbsp;**Title of each class** | &nbsp;&nbsp;**Name of each exchange on which registered** |
| &nbsp;&nbsp;Common Stock, $1 Par Value Per Share<br> &nbsp;&nbsp;MGEE | &nbsp;&nbsp;The NASDAQ Stock Market |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

**MGE Energy, Inc.** ☐ **Madison Gas and Electric Company** ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

**MGE Energy, Inc.** ☐ **Madison Gas and Electric Company** ☐

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**Item 2.02. Results of Operations and Financial Condition.**

On August 6, 2025, MGE Energy, Inc. (the Company) issued a press release announcing its second quarter 2025 earnings. The Company is furnishing a copy of that press release as Exhibit 99.1 to this report.

This combined Form 8-K is being furnished separately by the Company and Madison Gas and Electric Company. Information contained herein relating to any individual registrant has been furnished by such registrant on its own behalf. Neither registrant makes any representation as to information relating to the other registrant.

**Item 7.01. Regulation FD Disclosure.**

On August 6, 2025, MGE Energy, Inc. posted a financial presentation on its Investor Relations website. A copy of the presentation is attached as Exhibit 99.2. This Form 8-K and the attached exhibits are furnished to, but not filed with, the Securities and Exchange Commission.

**Item 9.01. Financial Statements and Exhibits.**

(a) Financial statements of businesses acquired: None

(b) Pro forma financial information: None

(c) Shell company transactions: None

(d) Exhibits.

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| | |
|:---|:---|
| Exhibit No. | Description |
| [<u>99.1</u>](mgee-ex99_1.htm) | Press release of MGE Energy, Inc., issued on August 6, 2025. |
| [<u>99.2</u>](mgee-ex99_2.htm) | Presentation Slides. |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document). |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**MGE Energy, Inc.**<br>**Madison Gas and Electric Company** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Registrants)* |
| &nbsp;&nbsp;Date: August 6, 2025 | &nbsp;&nbsp;/s/ Jenny L. Lagerwall |
|  | &nbsp;&nbsp;Jenny L. Lagerwall<br>Assistant Vice President - Accounting and Controller<br>(Chief Accounting Officer) |

---

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## Exhibit 99.1

**EXHIBIT 99.1**

![img268226923_0.jpg](img268226923_0.jpg)

**News**

**MGE Energy Reports Second-Quarter 2025 Earnings**

Madison, Wis., August 06, 2025—MGE Energy, Inc. (Nasdaq: MGEE), today reported financial results for the second quarter of 2025.

MGE Energy's GAAP (Generally Accepted Accounting Principles) earnings for the second quarter of 2025 were $26.5 million, or $0.73 per share, compared to $23.8 million, or $0.66 per share, for the same period in the prior year. Rate base investment growth and weather impacts drove our second-quarter results.

In the second quarter of 2025, electric net income increased $3.9 million compared to the second quarter of 2024. MGE continues to invest in new, cost-effective renewable generation, supporting the company's ongoing asset growth. An increase in electric investments included in rate base contributed to higher electric earnings for 2025. In March 2025, the Darien Solar Project in Rock and Walworth counties became operational, followed by the Paris Battery Energy Storage System (BESS), which went into service in June 2025. These additions further enhance electric system reliability and contributed to the increase in electric earnings. MGE owns 25 MW of solar capacity from the Darien Solar Project and 11 MW of battery capacity associated with the Paris BESS project.

For the second quarter of 2025, electric residential sales increased approximately 5% largely driven by warmer-than-normal weather. Gas net income exhibited steady performance, with minimal variation compared to the second quarter of 2024.

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**MGE Energy, Inc.**

*(In thousands, except per-share amounts)*

*(Unaudited)*

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| | | |
|:---|:---|:---|
| **Three Months Ended June 30,** | **2025** | **2024** |
| Operating revenues | $159452 | $145713 |
| Operating income | $34223 | $29735 |
| Net income | $26498 | $23794 |
| Earnings per share - basic | $0.73 | $0.66 |
| Earnings per share - diluted | $0.72 | $0.66 |
| Weighted average shares outstanding - basic | 36540 | 36176 |
| Weighted average shares outstanding - diluted | 36569 | 36197 |
| **Six Months Ended June 30,** | **2025** | **2024** |
| Operating revenues | $378422 | $337049 |
| Operating income | $87088 | $70480 |
| Net income | $68090 | $57608 |
| Earnings per share - basic | $1.86 | $1.59 |
| Earnings per share - diluted | $1.86 | $1.59 |
| Weighted average shares outstanding - basic | 36526 | 36173 |
| Weighted average shares outstanding - diluted | 36557 | 36196 |

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**About MGE Energy**

MGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric, generates and distributes electricity to 167,000 customers in Dane County, Wis., and purchases and distributes natural gas to 178,000 customers in seven south-central and western Wisconsin counties. MGE's roots in the Madison area date back more than 150 years.

**Forward-looking Statements**

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are based on MGE Energy's current expectations, estimates and assumptions regarding future events, which are inherently uncertain. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to revise or update publicly any such forward-looking statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to our business in general, please refer to the "Risk Factors" sections in our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission.

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| | |
|:---|:---|
| &nbsp;&nbsp;**Contact**: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Steve B. Schultz<br>Media Relations<br>608-252-7219 \| sbschultz@mge.com<br>Ken Frassetto<br>Investor Relations<br>608-252-4723 \| kfrassetto@mge.com |

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## Exhibit 99.2

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