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PSEG's Q2 adjusted EPS rose 11.7% to 86 cents, beating the consensus estimate by 7.5%.
Revenues fell 8.9% to $2.55 billion as gas sales declined 23%, while electric sales increased 2%.
PSEG expects 2026 adjusted earnings of $4.28-$4.40 per share.
Public Service Enterprise Group Incorporated (PEG - Free Report) , or PSEG, reported second-quarter 2026 adjusted earnings of 86 cents per share, which beat the Zacks Consensus Estimate of 80 cents by 7.5%. Earnings increased 11.7% from the prior-year reported figure of 77 cents.
The company reported GAAP earnings per share (EPS) of 67 cents compared with $1.17 in the corresponding period of 2025.
PEG’s Total Revenues
Operating revenues totaled $2.55 billion, which missed the Zacks Consensus Estimate of $2.70 billion by 5.4%. The top line also declined 8.9% from the year-ago figure of $2.81 billion.
Public Service Enterprise Group Incorporated Price, Consensus and EPS Surprise
Electric sales increased 2% year over year to 9,629 million kilowatt-hours (kWh). Residential sales rose 3% to 3,242 million kWh, while commercial and industrial sales jumped 1% to 6,316 million kWh.
Total gas sales declined 23% to 541 million therms. Firm gas sales slipped 1% to 351 million therms, as residential volumes decreased 4%, and commercial and industrial volumes increased 1%. Non-firm commercial and industrial sales fell 45% to 190 million therms.
Highlights of PEG’s Earnings Release
The operating income totaled $461 million compared with $817 million in the year-ago period, reflecting a decline of 43.6%.
Total operating expenses were $2.09 billion, up 5.3% from the year-ago figure.
Interest expenses amounted to $269 million, which increased 8.5% year over year.
Segmental Performance of PEG
PSE&G revenues increased 5.2% to $2.14 billion from $2.03 billion in the prior-year period. The regulated utility generated net income and non-GAAP operating earnings of $342 million, up from $332 million. Results benefited from ongoing investments in energy efficiency, gas system modernization and transmission.
PSEG Power & Other revenues declined 42% to $534 million from $920 million a year earlier. Despite the revenue decrease, non-GAAP operating earnings increased to $83 million from $52 million. The improvement reflected higher realized prices and increased nuclear generation.
Financial Update of PEG
The long-term debt (including the current portion of the long-term debt) as of June 30, 2026 was $23.59 billion compared with $22.55 billion as of Dec. 31, 2025.
The net cash flow from operating activities was $1.82 billion during the first six months of 2026 compared with $1.53 billion during the first six 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 $4.37, which is at the higher end of the company’s guided range.
Edison International (EIX - Free Report) reported second-quarter 2026 core earnings of $1.54 per share, beating the Zacks Consensus Estimate of $1.02 by 51%. The bottom line surged 58.8% from 97 cents in the year-ago quarter.
Edison International's second-quarter operating revenues totaled $4.36 billion, which missed the Zacks Consensus Estimate of $4.72 billion by 7.7%. The top line also decreased 4.1% from the year-ago quarter’s figure of $4.54 billion.
IDACORP, Inc. (IDA - Free Report) reported second-quarter 2026 earnings of $1.79 per share, which topped the Zacks Consensus Estimate of $1.75 by 2.3%. The company’s earnings also improved 1.7% from $1.76 in the year-ago quarter.
Total revenues in the second quarter of 2026 were $469.8 million, lagging the Zacks Consensus Estimate of $478 million by 1.8%. However, the metric rose 4.2% from $450.9 million in the year-ago quarter.
PG&E Corporation (PCG - Free Report) reported second-quarter 2026 adjusted earnings per share of 40 cents, which beat the Zacks Consensus Estimate of 37 cents by 8.1%. The bottom line also increased 29% from the year-ago quarter’s figure of 31 cents.
PCG reported second-quarter total revenues of $5.902 billion, up 0.1% from $5.898 billion registered in the year-ago period. However, the top line missed the Zacks Consensus Estimate of $6.31 billion by 6.4%.
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PEG Q2 Earnings Outpace Expectations, Revenues Decrease Y/Y
Key Takeaways
Public Service Enterprise Group Incorporated (PEG - Free Report) , or PSEG, reported second-quarter 2026 adjusted earnings of 86 cents per share, which beat the Zacks Consensus Estimate of 80 cents by 7.5%. Earnings increased 11.7% from the prior-year reported figure of 77 cents.
The company reported GAAP earnings per share (EPS) of 67 cents compared with $1.17 in the corresponding period of 2025.
PEG’s Total Revenues
Operating revenues totaled $2.55 billion, which missed the Zacks Consensus Estimate of $2.70 billion by 5.4%. The top line also declined 8.9% from the year-ago figure of $2.81 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
PEG’s Sales Volumes Show Mixed Trends
Electric sales increased 2% year over year to 9,629 million kilowatt-hours (kWh). Residential sales rose 3% to 3,242 million kWh, while commercial and industrial sales jumped 1% to 6,316 million kWh.
Total gas sales declined 23% to 541 million therms. Firm gas sales slipped 1% to 351 million therms, as residential volumes decreased 4%, and commercial and industrial volumes increased 1%. Non-firm commercial and industrial sales fell 45% to 190 million therms.
Highlights of PEG’s Earnings Release
The operating income totaled $461 million compared with $817 million in the year-ago period, reflecting a decline of 43.6%.
Total operating expenses were $2.09 billion, up 5.3% from the year-ago figure.
Interest expenses amounted to $269 million, which increased 8.5% year over year.
Segmental Performance of PEG
PSE&G revenues increased 5.2% to $2.14 billion from $2.03 billion in the prior-year period. The regulated utility generated net income and non-GAAP operating earnings of $342 million, up from $332 million. Results benefited from ongoing investments in energy efficiency, gas system modernization and transmission.
PSEG Power & Other revenues declined 42% to $534 million from $920 million a year earlier. Despite the revenue decrease, non-GAAP operating earnings increased to $83 million from $52 million. The improvement reflected higher realized prices and increased nuclear generation.
Financial Update of PEG
The long-term debt (including the current portion of the long-term debt) as of June 30, 2026 was $23.59 billion compared with $22.55 billion as of Dec. 31, 2025.
The net cash flow from operating activities was $1.82 billion during the first six months of 2026 compared with $1.53 billion during the first six 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 $4.37, which is at the higher end 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 second-quarter 2026 core earnings of $1.54 per share, beating the Zacks Consensus Estimate of $1.02 by 51%. The bottom line surged 58.8% from 97 cents in the year-ago quarter.
Edison International's second-quarter operating revenues totaled $4.36 billion, which missed the Zacks Consensus Estimate of $4.72 billion by 7.7%. The top line also decreased 4.1% from the year-ago quarter’s figure of $4.54 billion.
IDACORP, Inc. (IDA - Free Report) reported second-quarter 2026 earnings of $1.79 per share, which topped the Zacks Consensus Estimate of $1.75 by 2.3%. The company’s earnings also improved 1.7% from $1.76 in the year-ago quarter.
Total revenues in the second quarter of 2026 were $469.8 million, lagging the Zacks Consensus Estimate of $478 million by 1.8%. However, the metric rose 4.2% from $450.9 million in the year-ago quarter.
PG&E Corporation (PCG - Free Report) reported second-quarter 2026 adjusted earnings per share of 40 cents, which beat the Zacks Consensus Estimate of 37 cents by 8.1%. The bottom line also increased 29% from the year-ago quarter’s figure of 31 cents.
PCG reported second-quarter total revenues of $5.902 billion, up 0.1% from $5.898 billion registered in the year-ago period. However, the top line missed the Zacks Consensus Estimate of $6.31 billion by 6.4%.