Earnings Analysis November 2, 2026

Public Service Enterprise Group Inc ($PEG) Q3 2026 Earnings Analysis: Revenue Misses Estimates, Annual Guidance Maintained

Earnings Report

Revenue: $3.02 billion (YoY -6.4%, expected $3.242 billion) ❌ Miss

EPS (Earnings Per Share): $1.15 adjusted (expected $1.19) ❌ Miss

Guidance: Maintained · 2026 adjusted EPS $4.28–$4.40

Stock Reaction: -1.26% in regular session ($73.351, as of 01:46 KST on 11-03)

Highlights

Adjusted Earnings of $1.15: Slightly improved on an adjusted basis, up from $1.13 a year ago

Growth in Generation Segment Profit: Adjusted operating income rose to $68 million from $50 million a year ago

Nuclear Capacity Factor of 95.5%: Recorded 8.2 terawatt-hours of generation in Q3

The company stated that power outages were restored within a day despite frequent bad weather in July and September. It also noted that its five-year capital investment plan can be sustained without issuing new shares or selling assets.

Lowlights

Net Income of $376 million: GAAP net income decreased significantly from $622 million a year ago

Revenue Down 6.4%: $3.02 billion fell short of the expected $3.242 billion

Decrease in Regulatory Segment Profit: Utility segment net income was $506 million, down $9 million from a year ago

The decline in net income resulted from a $251 million market value assessment loss and losses related to nuclear decommissioning trusts being reflected in GAAP. Both items are excluded by the company when calculating adjusted earnings.

What the Company Said

Chairman and CEO Ralph LaRossa stated that third-quarter and year-to-date results are in line with annual plans. The company explained that it is continuing its goal to grow adjusted earnings at an annual average rate of 6–8% through 2030 and its five-year capital investment plan.

Market Reaction and Key Points Ahead

Revenue fell below expectations, and GAAP net income decreased due to valuation losses. It was also revealed that adjusted earnings and annual guidance were maintained.

When depreciation and interest costs in the regulatory segment will be reflected in rates in the next quarter

Whether nuclear capacity factor in Q4 maintains Q3 levels

Whether the annual adjusted EPS guidance will be met

Earnings Call Summary

Once the earnings call concludes and the company script is released, the key takeaways from the call will be added here. We will select and summarize only the most important points, such as how management explained performance and outlook, and what questions analysts asked.