PSEG's second quarter EPS of $0.86 beats estimates while the company reaffirms its FY2026 guidance.

Public Service Enterprise Group reported second quarter non-GAAP operating earnings of $0.86 per share on operating revenues of $2.55 billion. While earnings surpassed analyst estimates of $0.80, revenue fell short of the $2.83 billion forecast. The company reaffirmed its full-year 2026 non-GAAP operating earnings guidance of $4.28 to $4.40 per share.

Key Highlights

• Non-GAAP operating earnings grew 10.7% to $425 million from $384 million in the prior-year quarter.
• The PSEG Power & Other segment's non-GAAP operating earnings increased 60% year-over-year to $83 million, driven by higher realized prices and a 3.7% increase in nuclear generation to 7.8 TWh.
• The company maintained its FY2026 non-GAAP Operating Earnings per share guidance of $4.28 - $4.40.