The EPS beat is modest and revenue missed consensus, with no guidance change — the stock is unlikely to see a sustained move. Monitor the Q3 2026 earnings call for updates on nuclear output contracting and regulatory filings for gas bill reductions, which could provide incremental growth catalysts.
Price Chart
Executive Summary
PSEG reported Q2 2026 non-GAAP operating EPS of $0.86, beating the $0.80 consensus by 7.7%, while GAAP net income fell 43% YoY to $334M due to mark-to-market losses. The company maintained full-year 2026 non-GAAP operating EPS guidance of $4.28-$4.40 and reaffirmed its 6%-8% long-term growth outlook through 2030, supported by a $24B-$28B capital plan funded without equity issuance. The beat is modest and the guidance unchanged, making this a routine quarter for a regulated utility with no material catalyst to move the stock significantly.
Key Financial Metrics
Key Facts
- Q2 2026 non-GAAP operating EPS of $0.86 beat consensus of $0.80 by 7.7%
- GAAP net income fell 43% YoY to $334M ($0.67/share) from $585M ($1.17/share) due to mark-to-market losses
- Total operating revenues declined 9% YoY to $2.554B from $2.805B
- PSE&G segment net income rose 3% YoY to $342M; PSEG Power & Other swung to a net loss of $8M from income of $253M
- Full-year 2026 non-GAAP operating EPS guidance maintained at $4.28-$4.40; 5-year growth outlook reaffirmed at 6%-8% through 2030
- Capital investment plan of $24B-$28B over 5 years to be funded without new equity issuance
- Dividend increased to $0.67/share from $0.63/share in prior year period
Financial Impact
Q2 2026 non-GAAP operating EPS of $0.86 vs consensus $0.80; revenue $2.554B vs consensus $2.73B (missed by ~6.4%)
Risk Factors
- Revenue miss of ~6.4% vs consensus signals potential top-line pressure from lower energy prices or demand
- PSEG Power & Other segment swung to a net loss of $8M from $253M income YoY, driven by absence of zero-emission certificates and mark-to-market losses
- Higher interest expense and depreciation from ongoing capital investments may pressure future earnings growth
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302842353 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 4, 2026 8w ago | 8-K | $76.27 $73.48 | ▼ −3.66% | ▼ −2.42% | $68.07 (−10.75%) |
Aug 4, 2026 8w ago | Press Release | $76.27 $73.48 | ▼ −3.66% | ▼ −2.42% | $68.07 (−10.75%) |
Jul 2, 2026 13w ago | Insider Cluster | $81.62 $77.55 | ▼ −4.99% | ▼ −4.57% | $68.07 (−16.60%) |
Jun 2, 2026 17w ago | 424B5 | $78.32 $80.27 | ▲ +2.49% | ▲ +4.05% | $68.07 (−13.09%) |
Jun 1, 2026 17w ago | 424B5 | $76.67 $81.16 | ▲ +5.86% | ▲ +7.15% | $68.07 (−11.22%) |
May 5, 2026 21w ago | 8-K | $79.73 $78.32 | ▼ −1.77% | ▼ −6.72% | $68.07 (−14.62%) |
US Market Status
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