Public Service Enterprise Group Incorporated Earnings Recaps
Q1 2026
May 7, 2026
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.
Key takeaways
- 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.
Q3 2025
Nov 5, 2025
PSEG reported strong third-quarter results, driven by the benefits of new distribution rates and robust capital investments, allowing for an upward revision of its 2025 non-GAAP operating earnings guidance.
Key takeaways
- Non-GAAP operating earnings guidance for 2025 narrowed to $4.00-$4.06 per share, up from $3.94-$4.06.
- Capital spending of $1 billion during Q3, contributing to a total of $2.7 billion year-to-date as part of a $3.8 billion annual program focused on modernizing infrastructure.
- PSEG Nuclear delivered 7.9 terawatt hours of carbon-free energy, with an extension of the Hope Creek unit's fuel cycle to 24 months enhancing operational efficiency.
- The Board of Trustees of the Long Island Power Authority approved a 5-year contract extension for PSEG as service provider through 2030.
- The company maintains a 5-year operating earnings growth outlook of 5% to 7% through 2029, supported by a robust balance sheet and capital investment program.