PSEG Q2 adjusted EPS beats estimates on increased nuclear generation

Public Service Enterprise Incorporated

04/08/2026 12:52

Overview
US regulated utility and nuclear operator's Q2 adjusted EPS rose, beating analyst expectations
Q2 net income declined year-over-year to $334 mln
Company maintained 2026 non-GAAP operating earnings guidance

Outlook
PSEG maintains 2026 non-GAAP operating earnings guidance of $4.28-$4.40 per share
Company reaffirms five-year non-GAAP operating earnings growth outlook of 6%-8% through 2030
PSEG expects to fund $24 bln-$28 bln five-year capital investment program without new equity or asset sales

Result Drivers
UTILITY INVESTMENTS - Co said ongoing investments in energy efficiency, gas system modernization and transmission supported Q2 results
NUCLEAR GENERATION - Higher realized prices and increased nuclear generation contributed to PSEG Power & Other results, partly offset by the end of zero emission certificates and higher interest expense and taxes
STORM RESPONSE AND RELIABILITY - Co highlighted system reliability and storm response during heatwaves and severe storms as demonstrating the value of its investments

Company press release: ID:nPn3Cfdf6a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted EPS
Beat
$0.86
$0.80 (17 Analysts)
Q2 Net Income
 
$334 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 15 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the multiline utilities peer group is "buy"
Wall Street's median 12-month price target for Public Service Enterprise Group Inc is $89.00, about 16.2% above its August 3 closing price of $76.62
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 18 three months ago

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(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.)