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EarningsQ2 2026 Earnings Report
PEG Q2 2026 EPS Results
Actual EPS$0.86
Consensus EPS$0.79
Beat/MissBeat by +$0.07
One Year Ago EPS$0.77
PEG Q2 2026 Revenue Results
Actual Revenue$2.74B
Expected Revenue$2.66B
Beat/MissBeat by +$79.25M
YoY Revenue Growth+6.53%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeBefore Open
Conference CallTuesday, August 4, 2026
PEG Upcoming Earnings
Public Service Enterprise's next earnings date is estimated for November 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
PEG Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a mix of operational and strategic positives — strong storm response, robust nuclear output, confirmed guidance, sizeable customer savings from energy-efficiency programs, substantial planned capital investment with funding capacity, and a recent regulatory win that benefits customers. Offsetting these strengths were notable near-term GAAP earnings headwinds (sharp drop in Q2 net income per share), a year-over-year swing to a net loss in PSEG Power, the end of ZEC revenues, inflation-driven higher O&M and financing costs, and regulatory risks (potential RTO incentive elimination). On balance, management emphasized stability, reaffirmed guidance, and highlighted multiple growth and customer-benefit initiatives, suggesting that the positives materially outweigh the negatives.Company Guidance
Reaffirmed Full-Year Guidance and Multi-Year Growth Outlook
Company reaffirmed 2026 full-year non-GAAP operating earnings guidance of $4.28 to $4.40 per share and reiterated a 5-year non-GAAP operating earnings CAGR outlook of 6% to 8% through 2030.
Quarterly Non-GAAP Operating Earnings Improvement
Non-GAAP operating earnings per share rose to $0.86 in Q2 2026 from $0.77 in Q2 2025, an increase of approximately 11.7% year-over-year; first-half non-GAAP operating earnings were $2.41 per share.
Excellent Storm Restoration Performance and System Reliability
PSE&G restored roughly 380,000 customers after severe storms with nearly all customers restored within 24 hours, mobilizing 330+ crews and executing 10+ million proactive customer communications; demonstrated value of system reliability investments.
Strong Nuclear Generation and Capacity Performance
PSEG Nuclear supplied 7.8 terawatt-hours of carbon-free generation in the quarter with a 92% capacity factor (including a breaker-to-breaker run at Salem Unit 2); cleared ~3,600 MW in PJM's BRA at $325/MW-day for 2028-29.
Customer Savings and Clean Energy Program Impact
Clean Energy Future programs now generate more than $1 billion in annual customer savings and have helped nearly 525,000 residential and business customers since Oct 2020; EE investments supported approximately 9,300 jobs statewide over six years.
Regulatory / Transmission Win for Customers
PJM's filing to modify transmission cost allocation is expected to deliver approximately $33 million benefit to zonal transmission customers for June–Dec 2026 and an expected prospective annual benefit of ~$65 million going forward.
On-Track Capital Deployment and Long-Term Funding
PSE&G invested about $1 billion in Q2 and remains on track for ~ $4.2 billion regulated CapEx in 2026; reaffirmed 5-year regulated CapEx plan of $22.5B–$25.5B and total 5-year capital program of $24B–$28B, which management says can be funded without issuing new equity.
Strong Liquidity and Active Balance Sheet Management
Available liquidity totaled $3.4 billion at June 30 (including ~$200 million cash); issued $500 million of 4.8% senior notes due 2031 and prepaid a $500 million 364-day term loan, keeping variable rate debt at ~3% of total debt.
PEG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed