Public Service Enterprise Group (PSEG) reported mixed financial results for the second quarter of 2026.
Non-GAAP operating earnings were $0.86 per share, above analyst estimates. Earnings rose from $0.77 per share in the same period last year.
GAAP net income fell to $0.67 per share from $1.17 a year earlier, largely due to mark-to-market adjustments.
Revenue totaled $2.55 billion, down 8.9% year over year. It also missed consensus forecasts. The decline was attributed to a significant drop in gas sales.
The non-GAAP earnings beat reflected improved performance in the utility segment and higher realized prices and generation in the power division.
PSEG reaffirmed its 2026 non-GAAP operating earnings guidance of $4.28 to $4.40 per share.