PSEG Q2 adjusted EPS beats estimates on increased nuclear generation
PEG•Guidance and capital plan
PSEG maintained 2026 non-GAAP operating earnings guidance of $4.28 to $4.40 per share.
The company reaffirmed its five-year non-GAAP operating earnings growth outlook of 6% to 8% through 2030.
PSEG expects to fund its $24 billion to $28 billion five-year capital investment program without new equity or asset sales.
Q2 results beat estimates
PSEG said second-quarter adjusted earnings per share rose and beat analyst expectations, while net income declined year over year to $334 million.
The company reported Q2 adjusted EPS of $0.86, compared with the consensus estimate of $0.80 from 17 analysts.
Drivers behind the quarter
The company said ongoing investments in energy efficiency, gas system modernization and transmission supported Q2 results.
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.
PSEG also highlighted system reliability and storm response during heatwaves and severe storms as demonstrating the value of its investments.
