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PEG Q1 adjusted EPS rose to $1.55, beating estimates, while GAAP EPS increased to $1.48.
PSEG revenues climbed to $3.85B, topping consensus, as electric and gas sales volumes rose year over year.
PSEG operating income jumped to $1.08B, while expenses and interest costs also increased from last year.
Public Service Enterprise Group Incorporated (PEG - Free Report) , or PSEG, reported first-quarter 2026 adjusted earnings of $1.55 per share, which beat the Zacks Consensus Estimate of $1.47 by 5.6%. Earnings increased 8.4% from the prior-year reported figure of $1.43.
The company reported GAAP earnings per share (EPS) of $1.48 compared with $1.18 in the corresponding period of 2025.
PEG’s Total Revenues
Operating revenues totaled $3.85 billion, which surpassed the Zacks Consensus Estimate of $3.27 billion by 17.6%. The top line also increased 19.4% from the year-ago figure of $3.22 billion.
Public Service Enterprise Group Incorporated Price, Consensus and EPS Surprise
Electric sales volume totaled 10,371 million kilowatt-hours, which increased 4% year over year. On the other hand, gas sales volume rose 7% to 1,464 million therms.
Under electric sales, residential sales volume totaled 3,490 million kilowatt-hours, up 6% from the prior-year figure. Its commercial and industrial sales volume totaled 6,784 million kilowatt-hours, reflecting year-over-year growth of 3%.
Other sales amounted to 97 million kilowatt-hours, down 4% from the year-ago recorded number.
Total gas sales witnessed year-over-year growth of 5% in firm sales volume. Non-firm gas sales volume increased 24%.
Highlights of PEG’s Earnings Release
The operating income totaled $1.08 billion compared with $0.8 billion in the year-ago period, reflecting an increase of 34.9%.
Total operating expenses were $2.77 billion, up 14.4% from the year-ago figure.
Interest expenses amounted to $272 million, which increased 12.9% year over year.
Segmental Performance of PEG
PSE&G: This segment’s net income was $577 million, up from $546 million in the first quarter of 2025.
PSEG Power & Other: Adjusted operating income for this unit amounted to $201 million compared with $172 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 March 31, 2026 was $23.09 billion compared with $22.55 billion as of Dec. 31, 2025.
The net cash flow from operating activities was $1.27 billion during the first three months of 2026 compared with $1.05 billion during the first three months of 2025.
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 $4.36, which lies above the midpoint of the company’s guided range.
Edison International (EIX - Free Report) reported first-quarter 2026 adjusted earnings of $1.42 per share, which surpassed the Zacks Consensus Estimate of $1.32 by 7.6%. The bottom line also increased 3.6% from $1.37 in the year-ago quarter.
Edison International's first-quarter operating revenues totaled $4.1 billion, which beat the Zacks Consensus Estimate of $3.99 billion by 2.8%. The top line also increased 7.7% from the year-ago quarter’s figure of $3.81 billion.
CenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2026 adjusted earnings of 56 cents per share, which missed the Zacks Consensus Estimate of 58 cents by 3.8%. However, the bottom line increased 5.7% from 53 cents in the year-ago quarter.
CNP generated revenues of $2.98 billion, which lagged the Zacks Consensus Estimate of $3.04 billion by 1.4%. However, the top line improved 2% from the year-ago reported figure of $2.92 billion.
PG&E Corporation (PCG - Free Report) reported first-quarter 2026 adjusted earnings per share (EPS) of 43 cents, which beat the Zacks Consensus Estimate of 39 cents by 10.3%. The bottom line also increased 30.3% from the year-ago quarter’s figure of 33 cents.
PCG reported first-quarter total revenues of $6.88 billion, up 15% from $5.98 billion registered in the year-ago period. The top line also surpassed the Zacks Consensus Estimate of $6.46 billion by 6.6%.
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PEG Q1 Earnings Beat Expectations, Revenues Increase Y/Y
Key Takeaways
Public Service Enterprise Group Incorporated (PEG - Free Report) , or PSEG, reported first-quarter 2026 adjusted earnings of $1.55 per share, which beat the Zacks Consensus Estimate of $1.47 by 5.6%. Earnings increased 8.4% from the prior-year reported figure of $1.43.
The company reported GAAP earnings per share (EPS) of $1.48 compared with $1.18 in the corresponding period of 2025.
PEG’s Total Revenues
Operating revenues totaled $3.85 billion, which surpassed the Zacks Consensus Estimate of $3.27 billion by 17.6%. The top line also increased 19.4% from the year-ago figure of $3.22 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 10,371 million kilowatt-hours, which increased 4% year over year. On the other hand, gas sales volume rose 7% to 1,464 million therms.
Under electric sales, residential sales volume totaled 3,490 million kilowatt-hours, up 6% from the prior-year figure. Its commercial and industrial sales volume totaled 6,784 million kilowatt-hours, reflecting year-over-year growth of 3%.
Other sales amounted to 97 million kilowatt-hours, down 4% from the year-ago recorded number.
Total gas sales witnessed year-over-year growth of 5% in firm sales volume. Non-firm gas sales volume increased 24%.
Highlights of PEG’s Earnings Release
The operating income totaled $1.08 billion compared with $0.8 billion in the year-ago period, reflecting an increase of 34.9%.
Total operating expenses were $2.77 billion, up 14.4% from the year-ago figure.
Interest expenses amounted to $272 million, which increased 12.9% year over year.
Segmental Performance of PEG
PSE&G: This segment’s net income was $577 million, up from $546 million in the first quarter of 2025.
PSEG Power & Other: Adjusted operating income for this unit amounted to $201 million compared with $172 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 March 31, 2026 was $23.09 billion compared with $22.55 billion as of Dec. 31, 2025.
The net cash flow from operating activities was $1.27 billion during the first three months of 2026 compared with $1.05 billion during the first three months of 2025.
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 $4.36, which lies above the midpoint of the company’s guided range.
PEG’s 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
Edison International (EIX - Free Report) reported first-quarter 2026 adjusted earnings of $1.42 per share, which surpassed the Zacks Consensus Estimate of $1.32 by 7.6%. The bottom line also increased 3.6% from $1.37 in the year-ago quarter.
Edison International's first-quarter operating revenues totaled $4.1 billion, which beat the Zacks Consensus Estimate of $3.99 billion by 2.8%. The top line also increased 7.7% from the year-ago quarter’s figure of $3.81 billion.
CenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2026 adjusted earnings of 56 cents per share, which missed the Zacks Consensus Estimate of 58 cents by 3.8%. However, the bottom line increased 5.7% from 53 cents in the year-ago quarter.
CNP generated revenues of $2.98 billion, which lagged the Zacks Consensus Estimate of $3.04 billion by 1.4%. However, the top line improved 2% from the year-ago reported figure of $2.92 billion.
PG&E Corporation (PCG - Free Report) reported first-quarter 2026 adjusted earnings per share (EPS) of 43 cents, which beat the Zacks Consensus Estimate of 39 cents by 10.3%. The bottom line also increased 30.3% from the year-ago quarter’s figure of 33 cents.
PCG reported first-quarter total revenues of $6.88 billion, up 15% from $5.98 billion registered in the year-ago period. The top line also surpassed the Zacks Consensus Estimate of $6.46 billion by 6.6%.