Public Service Enterprise Group Incorporated Q3 2026 Earnings Recap

PSEG reported third-quarter non-GAAP operating earnings of $1.15 per share and reaffirmed its full-year guidance. The stock was roughly flat after earnings (+0.1%), reflecting a neutral market reaction.

Key Takeaways

• Third-quarter net income was $0.76 per share; year-to-date non-GAAP operating earnings were $3.56 per share.
• PSEG reaffirmed full-year 2026 non-GAAP operating earnings guidance of $4.28–$4.40 per share.
• Utility-margin growth from energy-efficiency and transmission investments was offset by higher depreciation and interest costs, as well as tax timing.
• PSEG Power’s results improved with higher realized market prices and nuclear generation, gas operations, and lower O&M following the absence of the prior-year Hope Creek refueling outage.
• PSEG Nuclear delivered 8.2 TWh during the quarter at a 95.5% capacity factor; Salem Unit 1 entered a refueling outage after a 491-day run.