Public Service Enterprise Group Incorporated Q3 2025 Earnings Recap

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.