Shares declined 1.4% following a modestly mixed quarter with steady guidance, as investors appeared cautious despite solid operational execution and stable full-year earnings expectations.

• Reported Q1 non-GAAP operating earnings of $1.55 per share, maintaining full-year guidance range of $4.28 to $4.40 per share.
• Utility segment demonstrated strong operational reliability amid severe winter weather, including rapid restoration of power outages within 24 hours.
• PSEG Power offset the end of a zero emission certificate program with higher gas volume and capacity revenues, supporting stable results.
• Continued capital investments of approximately $4.2 billion planned for 2026, focusing on infrastructure modernization and energy efficiency programs.
• Regulatory developments such as FERC’s favorable transmission cost allocation ruling hold potential to reduce customer bills through refunds.