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Public Service Enterprise Q2 Earnings Beat Estimates, Revenues Increase Y/Y
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Key Takeaways
PEG posted Q2 adjusted EPS of 77 cents, beating estimates and rising 22.2% year over year.
Revenues rose 15.8% to $2.81B, led by higher gas sales and strong performance in all business segments.
PEG reaffirmed its 2025 EPS guidance of $3.94-$4.06, with consensus near the midpoint of the range.
Public Service Enterprise Group Incorporated ((PEG - Free Report) ), or PSEG, reported second-quarter 2025 adjusted earnings of 77 cents per share, which beat the Zacks Consensus Estimate of 71 cents by 8.5%. Earnings improved 22.2% from the prior-year reported figure of 63 cents per share.
The company reported GAAP earnings per share (EPS) of $1.17 compared with 87 cents in the corresponding period of 2024.
PEG’s Total Revenues
Operating revenues totaled $2.81 billion, which beat the Zacks Consensus Estimate of $2.35 billion by 19.6%. The top line also increased 15.8% from the year-ago figure of $2.42 billion.
Public Service Enterprise Group Incorporated Price, Consensus and EPS Surprise
Electric sales volume totaled 9,455 million kilowatt-hours, which declined 4% year over year. On the other hand, gas sales volume increased 28% to 702 million therms.
Under electric sales, residential sales volume totaled 3,142 million kilowatt-hours, down 7% from the prior-year figure. Its commercial and industrial sales volume totaled 6,252 million kilowatt-hours, reflecting a year-over-year decline of 2%.
Other sales amounted to 61 million kilowatt-hours, down 14% from the year-ago recorded number.
Total gas sales witnessed a year-over-year slip of 1% in firm sales volume. Non-firm gas sales volume surged 81%.
Highlights of PEG’s Earnings Release
The operating income totaled $817 million compared with $582 million in the year-ago period, reflecting a year-over-year increase of 40.4%.
Total operating expenses were $1.99 billion, up 8% from the year-ago figure.
Interest expenses amounted to $248 million, which increased 13.8% year over year.
Segmental Performance of PEG
PSE&G: This segment’s net income was $332 million, up from $302 million in the second quarter of 2024.
PSEG Power & Other: Adjusted operating income for this unit amounted to $52 million compared with $11 million in the prior-year quarter.
Financial Update of PEG
The long-term debt (including the current portion of the long-term debt) as of June 30, 2025, was $22.64 billion compared with $21.11 billion as of Dec. 31, 2024.
The net cash flow from operating activities was $1.53 billion during the first six months of 2025 compared with $1.14 billion during the first six months of 2024.
PEG’s 2025 Guidance
PEG reaffirmed its 2025 EPS guidance. It expects adjusted earnings to be in the range of $3.94-$4.06 per share. The Zacks Consensus Estimate for earnings is currently pegged at $4.01 per share, which lies just above the midpoint of the company’s guided range.
Dominion Energy Inc. ((D - Free Report) ) delivered second-quarter 2025 operating earnings of 75 cents per share, which beat the Zacks Consensus Estimate of 69 cents by 8.7%. The bottom line increased 15.4% from the year-ago quarter's level.
Revenues of $3.81 billion beat the Zacks Consensus Estimate of $3.64 billion by 4.5%. The top line also increased 9.3% from $3.49 billion in the year-ago quarter.
The AES Corporation’s ((AES - Free Report) ) second-quarter 2025 adjusted earnings of 51 cents per share surpassed the Zacks Consensus Estimate of 39 cents by 30.8%. The bottom line also improved 34.2% from 38 cents in the year-ago quarter.
Revenues amounted to $2.86 billion, down 3% year over year due to lower non-regulated revenues. The figure also missed the Zacks Consensus Estimate of $3.28 billion by 13.5%.
American Electric Power Company, Inc. ((AEP - Free Report) ) reported second-quarter 2025 operating EPS of $1.43, which beat the Zacks Consensus Estimate of $1.28 by 11.7%. The bottom line inched up 14.4% from $1.25 recorded in the year-ago quarter.
AEP’s revenues of $5.09 billion rose 11.1% from the year-ago quarter’s level of $4.58 billion. The top line also beat the Zacks Consensus Estimate of $4.94 billion by 2.9%.
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Public Service Enterprise Q2 Earnings Beat Estimates, Revenues Increase Y/Y
Key Takeaways
Public Service Enterprise Group Incorporated ((PEG - Free Report) ), or PSEG, reported second-quarter 2025 adjusted earnings of 77 cents per share, which beat the Zacks Consensus Estimate of 71 cents by 8.5%. Earnings improved 22.2% from the prior-year reported figure of 63 cents per share.
The company reported GAAP earnings per share (EPS) of $1.17 compared with 87 cents in the corresponding period of 2024.
PEG’s Total Revenues
Operating revenues totaled $2.81 billion, which beat the Zacks Consensus Estimate of $2.35 billion by 19.6%. The top line also increased 15.8% from the year-ago figure of $2.42 billion.
Public Service Enterprise Group Incorporated Price, Consensus and EPS Surprise
Public Service Enterprise Group Incorporated price-consensus-eps-surprise-chart | Public Service Enterprise Group Incorporated Quote
Sales Volume of PEG
Electric sales volume totaled 9,455 million kilowatt-hours, which declined 4% year over year. On the other hand, gas sales volume increased 28% to 702 million therms.
Under electric sales, residential sales volume totaled 3,142 million kilowatt-hours, down 7% from the prior-year figure. Its commercial and industrial sales volume totaled 6,252 million kilowatt-hours, reflecting a year-over-year decline of 2%.
Other sales amounted to 61 million kilowatt-hours, down 14% from the year-ago recorded number.
Total gas sales witnessed a year-over-year slip of 1% in firm sales volume. Non-firm gas sales volume surged 81%.
Highlights of PEG’s Earnings Release
The operating income totaled $817 million compared with $582 million in the year-ago period, reflecting a year-over-year increase of 40.4%.
Total operating expenses were $1.99 billion, up 8% from the year-ago figure.
Interest expenses amounted to $248 million, which increased 13.8% year over year.
Segmental Performance of PEG
PSE&G: This segment’s net income was $332 million, up from $302 million in the second quarter of 2024.
PSEG Power & Other: Adjusted operating income for this unit amounted to $52 million compared with $11 million in the prior-year quarter.
Financial Update of PEG
The long-term debt (including the current portion of the long-term debt) as of June 30, 2025, was $22.64 billion compared with $21.11 billion as of Dec. 31, 2024.
The net cash flow from operating activities was $1.53 billion during the first six months of 2025 compared with $1.14 billion during the first six months of 2024.
PEG’s 2025 Guidance
PEG reaffirmed its 2025 EPS guidance. It expects adjusted earnings to be in the range of $3.94-$4.06 per share. The Zacks Consensus Estimate for earnings is currently pegged at $4.01 per share, which lies just above the midpoint of the company’s guided range.
Zacks Rank
PEG currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
Dominion Energy Inc. ((D - Free Report) ) delivered second-quarter 2025 operating earnings of 75 cents per share, which beat the Zacks Consensus Estimate of 69 cents by 8.7%. The bottom line increased 15.4% from the year-ago quarter's level.
Revenues of $3.81 billion beat the Zacks Consensus Estimate of $3.64 billion by 4.5%. The top line also increased 9.3% from $3.49 billion in the year-ago quarter.
The AES Corporation’s ((AES - Free Report) ) second-quarter 2025 adjusted earnings of 51 cents per share surpassed the Zacks Consensus Estimate of 39 cents by 30.8%. The bottom line also improved 34.2% from 38 cents in the year-ago quarter.
Revenues amounted to $2.86 billion, down 3% year over year due to lower non-regulated revenues. The figure also missed the Zacks Consensus Estimate of $3.28 billion by 13.5%.
American Electric Power Company, Inc. ((AEP - Free Report) ) reported second-quarter 2025 operating EPS of $1.43, which beat the Zacks Consensus Estimate of $1.28 by 11.7%. The bottom line inched up 14.4% from $1.25 recorded in the year-ago quarter.
AEP’s revenues of $5.09 billion rose 11.1% from the year-ago quarter’s level of $4.58 billion. The top line also beat the Zacks Consensus Estimate of $4.94 billion by 2.9%.