{"id":989174,"date":"2026-08-04T07:57:27","date_gmt":"2026-08-04T11:57:27","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pseg-announces-second-quarter-2026-results\/"},"modified":"2026-08-04T07:57:27","modified_gmt":"2026-08-04T11:57:27","slug":"pseg-announces-second-quarter-2026-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pseg-announces-second-quarter-2026-results\/","title":{"rendered":"PSEG ANNOUNCES SECOND QUARTER 2026 RESULTS"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n $0.67 PER SHARE NET INCOME<\/b>\n <\/p>\n

\n $0.86 PER SHARE NON-GAAP OPERATING EARNINGS <\/b>\u00a0\u00a0<\/p>\n

\n Maintains 2026 Non-GAAP Operating Earnings Guidance of $4.28 – $4.40 Per Share<\/i>\n <\/p>\n

\n NEWARK, N.J.<\/span>, Aug. 4, 2026<\/span> \/PRNewswire\/ — Public Service Enterprise Group (NYSE: PEG) reported the following results for the second quarter and six months ended June 30, 2026:<\/p>\n

\n

\n \"Public\n <\/p>\n<\/p><\/div>\n

\n\n\n\n\n\n\n\n\n
\n

\n
\n
\n PSEG Consolidated (unaudited)<\/b>
\n
\n Second Quarter Comparative Results<\/b>
\n
\u00a0<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n Income<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Earnings Per Share<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n ($ millions, except per share amounts)<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2026<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2026<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net Income <\/span>\n <\/p>\n<\/td>\n

\n

\n $334<\/span>\n <\/p>\n<\/td>\n

\n

\n $585<\/span>\n <\/p>\n<\/td>\n

\n

\n $0.67<\/span>\n <\/p>\n<\/td>\n

\n

\n $1.17<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Reconciling Items <\/span>\n <\/p>\n<\/td>\n

\n

\n 91<\/span>\n <\/p>\n<\/td>\n

\n

\n (201)<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.19<\/span>\n <\/p>\n<\/td>\n

\n

\n (0.40)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Non-GAAP Operating Earnings<\/span>\n <\/p>\n<\/td>\n

\n

\n $425<\/span>\n <\/p>\n<\/td>\n

\n

\n $384<\/span>\n <\/p>\n<\/td>\n

\n

\n $0.86<\/span>\n <\/p>\n<\/td>\n

\n

\n $0.77<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Average Shares Outstanding (Diluted)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 499<\/span>\n <\/p>\n<\/td>\n

\n

\n 500<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n\n\n
\n

\n See Attachments 8 and 9 for a complete list of items excluded from Net Income\/(Loss) in the determination of non-GAAP Operating Earnings.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n
\n

\n
\n
\n PSEG Consolidated (unaudited)<\/b>
\n
\n Six Months Ended June 30 Comparative Results<\/b>
\n
\u00a0<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n Income<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Earnings Per Share<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n ($ millions, except per share amounts)<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2026<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2026<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net Income <\/span>\n <\/p>\n<\/td>\n

\n

\n $1,075<\/span>\n <\/p>\n<\/td>\n

\n

\n $1,174<\/span>\n <\/p>\n<\/td>\n

\n

\n $2.15<\/span>\n <\/p>\n<\/td>\n

\n

\n $2.35<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Reconciling Items <\/span>\n <\/p>\n<\/td>\n

\n

\n 128<\/span>\n <\/p>\n<\/td>\n

\n

\n (72)<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.26<\/span>\n <\/p>\n<\/td>\n

\n

\n (0.15)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Non-GAAP Operating Earnings<\/span>\n <\/p>\n<\/td>\n

\n

\n $1,203<\/span>\n <\/p>\n<\/td>\n

\n

\n $1,102<\/span>\n <\/p>\n<\/td>\n

\n

\n $2.41<\/span>\n <\/p>\n<\/td>\n

\n

\n $2.20<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0 Average Shares Outstanding (Diluted)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 499<\/span>\n <\/p>\n<\/td>\n

\n

\n 500<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n\n\n
\n

\n See Attachments 8 and 9 for a complete list of items excluded from Net Income\/(Loss) in the determination of non-GAAP Operating Earnings.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

“The efficient execution of PSEG’s strategic plan continues to benefit our customers with a resilient and reliable electric and gas system. In early July, these systems withstood a series of heatwaves and successive thunderstorms \u2013 accompanied by 70 mile per hour winds \u2013 that resulted in one of the most damaging storms in our history,” said Ralph LaRossa, PSEG’s chair, president and CEO.<\/p>\n

LaRossa continued, “PSE&G reconnected approximately 380,000 customers with nearly all customers restored within 24 hours of losing power, demonstrating the value of our system-reliability investments as well as our ability to respond quickly and safely. PSE&G’s around-the-clock restoration efforts were led by over 330 crews and over 10 million proactive customer communications.”<\/p>\n

“PSE&G reached a peak summer load of 10,446 MW on July 2, the highest in 14 years, and activated Demand Response \u2013 part of our Clean Energy Future programs \u2013 during three separate events throughout the early July heatwave.\u00a0These peak demands amplify the importance of our suite of award-winning Clean Energy Future programs, which now generate more than $1 billion in annual customer savings, helping nearly 525,000 residential and business customers save energy and lower utility bills since the program started in 2020.\u00a0 PSE&G’s energy efficiency investments have supported approximately 9,300 jobs statewide, including a network of more than 1,000 trade and union allies.”<\/p>\n

“During the quarter, PSE&G filed with the New Jersey Board of Public Utilities to lower residential gas bills by 5%, beginning October 1, continuing to benefit our customers with the lowest gas utility bills in New Jersey and the Mid-Atlantic Region.”<\/p>\n

“PSEG Nuclear also performed well during the quarter,\u00a0supplying the grid with 7.8 TWh of carbon-free, 24 by 7 baseload generation and achieving a capacity factor of 92.0% that included a second consecutive breaker to breaker run at Salem Unit 2.”<\/p>\n

“In addition to an exemplary storm response, our teams delivered solid financial and operational results for the second quarter and first half of 2026, enabling us to maintain PSEG’s full-year 2026 non-GAAP Operating Earnings guidance of $4.28 to $4.40 per share.\u00a0 We are also reaffirming PSEG’s five-year, non-GAAP Operating Earnings growth outlook of 6% to 8% through 2030 as we continue to pursue opportunities incremental to our long-term forecast, including the potential to contract our nuclear output under multi-year agreements. Importantly, our solid balance sheet enables the funding of PSEG’s total five-year capital investment program of $24 billion to $28 billion without the need to issue new equity or sell assets and provides the opportunity for consistent and sustainable dividend growth,” LaRossa concluded.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n PSEG Results by Segment (unaudited)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Second Quarter and Six Months Ended June 30, Comparative Results<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n<\/tr>\n
\n

\n ($ millions)<\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2Q 2026<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2Q 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n YTD 2026<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n YTD 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n PSE&G Net Income\/Non-GAAP Operating Earnings<\/span>\n <\/p>\n<\/td>\n

\n

\n $342<\/span>\n <\/p>\n<\/td>\n

\n

\n $332<\/span>\n <\/p>\n<\/td>\n

\n

\n $919<\/span>\n <\/p>\n<\/td>\n

\n

\n $878<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n PSEG Power & Other Net Income\/(Loss)<\/span>\n <\/p>\n<\/td>\n

\n

\n (8)<\/span>\n <\/p>\n<\/td>\n

\n

\n 253<\/span>\n <\/p>\n<\/td>\n

\n

\n 156<\/span>\n <\/p>\n<\/td>\n

\n

\n 296<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0 Total PSEG Net Income<\/b>\u00a0 <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $334<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $585<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $1,075<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $1,174<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n PSEG Power & Other Non-GAAP Operating Earnings\u00a0 <\/span>\n <\/p>\n<\/td>\n

\n

\n $83<\/span>\n <\/p>\n<\/td>\n

\n

\n $52<\/span>\n <\/p>\n<\/td>\n

\n

\n $284<\/span>\n <\/p>\n<\/td>\n

\n

\n $224<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0 Total PSEG Non-GAAP Operating Earnings<\/b><\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $425<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $384<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $1,203<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $1,102<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n
PSE&G’s results for the second quarter reflect ongoing investments in Energy Efficiency, Gas System Modernization and Transmission. These results were partially offset by higher operation and maintenance costs as well as higher depreciation and interest expense related to incremental investments and a prior year Transmission true up.<\/p>\n

PSEG Power & Other results for the quarter reflect higher realized prices and an increase in nuclear generation, partly offset by\u00a0the absence of zero emission certificates which ended May 2025, and higher interest expense and taxes.\u00a0<\/p>\n

\n ###<\/b>\n <\/p>\n

\n
\n PSEG will host a conference call to review its second quarter 2026 results, earnings guidance, and other matters with the financial community at 11:00 a.m. ET today.<\/i>\u00a0 Please register to access this event by visiting: <\/i>https:\/\/investor.pseg.com\/investor-news-and-events<\/i><\/b><\/a><\/p>\n

\n\n\n\n\n
\n

\n
\n
\n Media Relations:<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n
\n Investor Relations:<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (973) 430-7734<\/span>\n <\/p>\n<\/td>\n

\n

\n (973) 430-6565<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n DL-ENT-pseg.communications@pseg.com<\/a>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n PSEG-IR-GeneralInquiry@pseg.com<\/a>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n
\n About PSEG<\/b>
\n <\/u>\n <\/p>\n

Public Service Enterprise Group (PSEG) (NYSE: PEG) is a predominantly regulated infrastructure company operating New Jersey’s largest transmission and distribution utility, serving approximately 2.4 million electric and 1.9 million natural gas customers.\u00a0 PSEG also owns an independent fleet of 3,758 MW of carbon-free, baseload nuclear power generating units in NJ and PA. PSEG aims to power a future where people use energy more efficiently, and it’s safer and delivered more reliably than ever. PSEG is a member of the S&P 500 Index and has been named to the Dow Jones Best in Class North America Index for 18 consecutive years. PSEG’s businesses include Public Service Electric and Gas Co. (PSE&G), PSEG Power and PSEG Long Island (https:\/\/corporate.pseg.com<\/a>).<\/p>\n

\n
\n Non-GAAP Financial Measures<\/u>
\n <\/b>\n <\/p>\n

Management uses non-GAAP Operating Earnings in its internal analysis, and in communications with investors and analysts, as a consistent measure for comparing PSEG’s financial performance to previous financial results.\u00a0 Operating Earnings is a non-GAAP financial measure that differs from Net Income. Non-GAAP Operating Earnings exclude the impact of gains (losses) associated with the Nuclear Decommissioning Trust (NDT), Mark-to-Market (MTM) accounting and other material infrequent items.<\/p>\n

See Attachments 8 and 9 for a complete list of items excluded from Net Income\/(Loss) in the determination of non-GAAP Operating Earnings. The presentation of non-GAAP Operating Earnings is intended to complement and should not be considered an alternative to the presentation of Net Income\/(Loss), which is an indicator of financial performance determined in accordance with GAAP. In addition, non-GAAP Operating Earnings as presented in this report may not be comparable to similarly titled measures used by other companies.<\/p>\n

Due to the forward-looking nature of non-GAAP Operating Earnings guidance, PSEG is unable to reconcile this non-GAAP financial measure to the most directly comparable GAAP financial measure because comparable GAAP measures are not reasonably accessible or reliable due to the inherent difficulty in forecasting and quantifying measures that would be required for such reconciliation. Namely, we are not able to reliably project without unreasonable effort MTM and NDT gains (losses), for future periods due to market volatility. These items are uncertain, depend on various factors, and may have a material impact on our future GAAP results.<\/p>\n

\n
\n Forward-Looking Statements<\/u>
\n <\/b>\n <\/p>\n

Certain of the matters discussed in this report about our and our subsidiaries’ future performance, including, without limitation, future revenues, earnings, strategies, prospects, consequences, and all other statements that are not purely historical constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such statements are based on management’s beliefs as well as assumptions made by and information currently available to management. When used herein, the words “anticipate,” “intend,” “estimate,” “believe,” “expect,” “plan,” “should,” “hypothetical,” “potential,” “forecast,” “project,” variations of such words and similar expressions are intended to identify forward-looking statements. Factors that may cause actual results to differ are often presented with the forward-looking statements themselves. Other factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are discussed in filings we make with the United States Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K and subsequent reports on Form 10-Q and Form 8-K. These factors include, but are not limited to:<\/p>\n