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PEG Q4 adjusted EPS of 72 cents beat estimates; revenues rose 18% year over year.
PEG posted 2025 EPS of $4.05 and $12.17B in revenues, both topping estimates.
PEG guides 2026 adjusted EPS of $4.28-$4.40; operating cash flow climbed to $3.30B.
Public Service Enterprise Group Incorporated (PEG - Free Report) , or PSEG, reported fourth-quarter 2025 adjusted earnings of 72 cents per share, which beat the Zacks Consensus Estimate of 71 cents by 1.4%. Earnings declined 14.3% from the prior-year reported figure of 84 cents per share.
The company reported GAAP earnings per share (EPS) of 63 cents compared with 57 cents in the corresponding period of 2024.
For 2025, the company reported adjusted EPS of $4.05, which beat the Zacks Consensus Estimate of $4.04. The full-year bottom line improved from $3.68 in 2024.
PEG’s Total Revenues
Operating revenues totaled $2.92 billion, which beat the Zacks Consensus Estimate of $2.58 billion by 12.8%. The top line also increased 18.3% from the year-ago figure of $2.47 billion.
For 2025, the company recorded revenues of $12.17 billion, which beat the Zacks Consensus Estimate of $11.87 billion. The full-year top line also improved from $10.29 billion generated last year.
Public Service Enterprise Group Incorporated Price, Consensus and EPS Surprise
Electric sales volume totaled 9,340 million kilowatt-hours, which increased 2% year over year. On the other hand, gas sales volume increased 16% to 1,041 million therms.
Under electric sales, residential sales volume totaled 2,920 million kilowatt-hours, up 4% from the prior-year figure. Its commercial and industrial sales volume totaled 6,323 million kilowatt-hours, reflecting year-over-year growth of 1%.
Other sales amounted to 97 million kilowatt-hours, up 2% from the year-ago recorded number.
Total gas sales witnessed year-over-year growth of 16% in firm sales volume. Non-firm gas sales volume increased 14%.
Highlights of PEG’s Earnings Release
The operating income totaled $511 million compared with $445 million in the year-ago period, reflecting an increase of 14.8%.
Total operating expenses were $2.40 billion, up 19% from the year-ago figure.
Interest expenses amounted to $263 million, which increased 13.4% year over year.
Segmental Performance of PEG
PSE&G: This segment’s net income was $352 million, down from $378 million in the fourth quarter of 2024.
PSEG Power & Other: Adjusted operating income for this unit amounted to $10 million compared with $43 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 Dec. 31, 2025, was $22.55 billion compared with $21.11 billion as of Dec. 31, 2024.
The net cash flow from operating activities was $3.30 billion during 2025 compared with $2.13 billion during 2024.
PEG’s 2026 Guidance
PEG expects adjusted earnings to be in the range of $4.28-$4.40 per share. The Zacks Consensus Estimate for earnings is currently pegged at $4.38 per share, which lies above the midpoint of the company’s guided range.
Duke Energy Corporation's (DUK - Free Report) fourth-quarter 2025 earnings of $1.50 per share lagged the Zacks Consensus Estimate of $1.51 by 0.6%. The bottom line also declined 9.6% from $1.66 reported in the year-ago quarter.
Total operating revenues were $7.94 billion, which beat the Zacks Consensus Estimate of $7.66 billion by 3.9%. The top line also increased 7.9% from $7.36 billion in the year-ago period.
Xcel Energy Inc. (XEL - Free Report) reported fourth-quarter 2025 operating earnings of 96 cents per share, which lagged the Zacks Consensus Estimate of 97 cents by a penny. However, the bottom line surpassed the year-ago quarter’s figure by 18.5%.
Revenues of $3.56 billion missed the Zacks Consensus Estimate of $3.72 billion by 4.4%. However, the figure increased 14.1% from the year-ago quarter’s $3.12 billion.
National Fuel Gas Company (NFG - Free Report) reported first-quarter fiscal 2026 adjusted operating earnings of $2.06 per share, which beat the Zacks Consensus Estimate of $1.91 by 7.85%. The bottom line also increased 24.1% from the year-ago quarter’s reported figure of $1.66.
NFG reported sales of $651.5 million, which beat the Zacks Consensus Estimate of $647 million by 0.7%. The top line also increased 18.6% from the prior-year recorded figure of $549.5 million.
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PEG Q4 Earnings Surpass Estimates, Revenues Increase Y/Y
Key Takeaways
Public Service Enterprise Group Incorporated (PEG - Free Report) , or PSEG, reported fourth-quarter 2025 adjusted earnings of 72 cents per share, which beat the Zacks Consensus Estimate of 71 cents by 1.4%. Earnings declined 14.3% from the prior-year reported figure of 84 cents per share.
The company reported GAAP earnings per share (EPS) of 63 cents compared with 57 cents in the corresponding period of 2024.
For 2025, the company reported adjusted EPS of $4.05, which beat the Zacks Consensus Estimate of $4.04. The full-year bottom line improved from $3.68 in 2024.
PEG’s Total Revenues
Operating revenues totaled $2.92 billion, which beat the Zacks Consensus Estimate of $2.58 billion by 12.8%. The top line also increased 18.3% from the year-ago figure of $2.47 billion.
For 2025, the company recorded revenues of $12.17 billion, which beat the Zacks Consensus Estimate of $11.87 billion. The full-year top line also improved from $10.29 billion generated last year.
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 9,340 million kilowatt-hours, which increased 2% year over year. On the other hand, gas sales volume increased 16% to 1,041 million therms.
Under electric sales, residential sales volume totaled 2,920 million kilowatt-hours, up 4% from the prior-year figure. Its commercial and industrial sales volume totaled 6,323 million kilowatt-hours, reflecting year-over-year growth of 1%.
Other sales amounted to 97 million kilowatt-hours, up 2% from the year-ago recorded number.
Total gas sales witnessed year-over-year growth of 16% in firm sales volume. Non-firm gas sales volume increased 14%.
Highlights of PEG’s Earnings Release
The operating income totaled $511 million compared with $445 million in the year-ago period, reflecting an increase of 14.8%.
Total operating expenses were $2.40 billion, up 19% from the year-ago figure.
Interest expenses amounted to $263 million, which increased 13.4% year over year.
Segmental Performance of PEG
PSE&G: This segment’s net income was $352 million, down from $378 million in the fourth quarter of 2024.
PSEG Power & Other: Adjusted operating income for this unit amounted to $10 million compared with $43 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 Dec. 31, 2025, was $22.55 billion compared with $21.11 billion as of Dec. 31, 2024.
The net cash flow from operating activities was $3.30 billion during 2025 compared with $2.13 billion during 2024.
PEG’s 2026 Guidance
PEG expects adjusted earnings to be in the range of $4.28-$4.40 per share. The Zacks Consensus Estimate for earnings is currently pegged at $4.38 per share, which lies above the midpoint of the company’s guided range.
Zacks Rank
PEG currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
Duke Energy Corporation's (DUK - Free Report) fourth-quarter 2025 earnings of $1.50 per share lagged the Zacks Consensus Estimate of $1.51 by 0.6%. The bottom line also declined 9.6% from $1.66 reported in the year-ago quarter.
Total operating revenues were $7.94 billion, which beat the Zacks Consensus Estimate of $7.66 billion by 3.9%. The top line also increased 7.9% from $7.36 billion in the year-ago period.
Xcel Energy Inc. (XEL - Free Report) reported fourth-quarter 2025 operating earnings of 96 cents per share, which lagged the Zacks Consensus Estimate of 97 cents by a penny. However, the bottom line surpassed the year-ago quarter’s figure by 18.5%.
Revenues of $3.56 billion missed the Zacks Consensus Estimate of $3.72 billion by 4.4%. However, the figure increased 14.1% from the year-ago quarter’s $3.12 billion.
National Fuel Gas Company (NFG - Free Report) reported first-quarter fiscal 2026 adjusted operating earnings of $2.06 per share, which beat the Zacks Consensus Estimate of $1.91 by 7.85%. The bottom line also increased 24.1% from the year-ago quarter’s reported figure of $1.66.
NFG reported sales of $651.5 million, which beat the Zacks Consensus Estimate of $647 million by 0.7%. The top line also increased 18.6% from the prior-year recorded figure of $549.5 million.