Public Service Enterprise Group (NYSE:PEG) reaffirmed its full-year 2026 operating-earnings outlook after reporting second-quarter results supported by utility infrastructure investments and improved performance at its power business.
The company reported second-quarter net income of $0.67 per share, compared with $1.17 per share a year earlier
Non-GAAP operating earnings rose to $0.86 per share from $0.77 per share in the prior-year quarter. For the first half, PSEG reported net income of $2.15 per share and non-GAAP operating earnings of $2.41 per share. Chair, President and CEO Ralph LaRossa said investments in system replacement, reliability and energy efficiency were major drivers of second-quarter financial growth.
At PSEG Power, higher realized market prices, greater nuclear generation and gas operations more than offset the expiration of Zero Emission Certificate programs in May 2025. PSEG maintained its 2026 non-GAAP operating-earnings guidance of $4.28 to $4.40 per share and reaffirmed its outlook for 6% to 8% annual operating-earnings growth through 2030. Utility investments and storm response PSE&G recorded second-quarter net income and operating earnings of $342 million, up from $332 million in the year-earlier quarter.