PSEG Q1 adjusted EPS beats estimates, helped by winter gas demand

Public Service Enterprise

05/05/2026 12:44

Overview

US regulated utility and nuclear operator's Q1 adjusted EPS rose, beating analyst expectations

Q1 revenue increased yr/yr to $3.85 bln

Results aided by strong winter gas demand and infrastructure investments, offset by higher costs

Outlook

PSEG maintains 2026 non-GAAP operating earnings guidance of $4.28 to $4.40 per share

Company expects to grow non-GAAP operating earnings by 6% to 8% annually through 2030

PSEG says electric and gas rates will remain flat in 2026

Result Drivers

EXTREME WINTER WEATHER - Co said strong winter gas demand and storm response drove results, citing the worst winter storm in 30 years and record gas send-out since 2019

INFRASTRUCTURE INVESTMENTS - Ongoing investments in energy efficiency, gas system modernization and transmission supported results, per co

COST PRESSURES - Higher operation and maintenance costs, depreciation and interest expense from incremental investments partially offset gains

Company press release: ID:nPn5jmq7Ta

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 OPERATING Revenue
$3.85 bln
Q1 Adjusted EPS
Beat
$1.55
$1.44 (15 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 14 "hold" and no "sell" or "strong sell"

Wall Street's median 12-month price target for Public Service Enterprise Group Inc is $91.00, about 13.1% above its May 4 closing price of $80.45

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 19 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)