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Public Service Enterprise Group 8-K Report, Financial Results (Aug 4, 2026)

Reports
Earnings & Results·Regulation FD·Exhibits & Filings
Filing Date
Filed August 4, 2026
Period End
August 4, 2026
Security
PEG
In the record · 2016–202610-K1110-Q338-K149

PEG filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 149 current reports (8-K) between 2016 and 2026.

  1. Impairment8-K · Oct ’16Oct ’16
  2. Impairment8-K · Jun ’19Jun ’19
  3. Leadership change8-K · Sep ’22Sep ’22
  4. Leadership change8-K · Nov ’24Nov ’24

01—Abstract

Summary

Summary of the 8-K filed August 4, 2026. Cited figures are marked; the original filing is the authoritative source.

Public Service Enterprise Group (PSEG, NYSE: PEG) reported second quarter 2026 results in an 8-K filed August 4, 2026.

Net income for the quarter was $334 milliona, or $0.67 per diluted share, compared with $585 million, or $1.17 per share, in the second quarter of 2025. Non-GAAP Operating Earnings were $425 million, or $0.86 per share, versus $384 million, or $0.77 per share, a year earlier. For the six months ended June 30, 2026, net income was $1,075 million ($2.15 per share) and Non-GAAP Operating Earnings were $1,203 million ($2.41 per share).

PSE&G contributed $342 millionb of quarterly net income, up from $332 million, while PSEG Power & Other posted a net loss of $8 million compared with net income of $253 million in the prior-year quarter, with the company citing higher realized prices and increased nuclear generation offset by the absence of zero emission certificates. PSEG maintained its 2026 Non-GAAP Operating Earnings guidance of $4.28 to $4.40 per share and reaffirmed a five-year Non-GAAP Operating Earnings growth outlook of 6% to 8% through 2030. Management said its balance sheet supports a total five-year capital investment program of $24 billion to $28 billion without issuing new equity or selling assets, and it pointed to opportunities for consistent dividend growth.

The company also highlighted that it raised its 2026 indicative annual common dividend by $0.16c per share. The filing also describes operational events, including restoration of power to approximately 380,000 PSE&G customers after early-July storms and a summer peak load of 10,446 MW on July 2.

PSE&G filed with the New Jersey Board of Public Utilities to lower residential gas bills by 5%d beginning October 1. The results and related slideshow are furnished under Items 2.02 and 7.01, and the filing notes that non-GAAP Operating Earnings exclude Nuclear Decommissioning Trust gains or losses, mark-to-market accounting effects and other material infrequent items.

02—Key points

Key Highlights

  1. Q2 2026 net income of $334 million ($0.67 per diluted share), down from $585 million ($1.17 per share) in Q2 2025.
  2. Q2 2026 Non-GAAP Operating Earnings of $425 million ($0.86 per share), up from $384 million ($0.77 per share) a year earlier.
  3. Six-month 2026 Non-GAAP Operating Earnings of $1,203 million ($2.41 per share) versus $1,102 million ($2.20 per share) in 2025.
  4. 2026 Non-GAAP Operating Earnings guidance maintained at $4.28 to $4.40 per share; five-year growth outlook of 6% to 8% through 2030 reaffirmed.
  5. Total five-year capital investment program of $24 billion to $28 billion, which management says can be funded without issuing new equity or selling assets.
  6. PSEG Power & Other swung to a Q2 2026 net loss of $8 million from $253 million of net income in Q2 2025, while its Non-GAAP Operating Earnings rose to $83 million from $52 million.
  7. Net Cash Collateral Postings at PSEG Power were $414 million at June 30, 2026, and PSEG had approximately $3.4 billion of total available liquidity.

03—Questions

Frequently Asked Questions

  1. Did PSEG meet its earnings expectations and change its guidance?

    The filing reports Q2 2026 Non-GAAP Operating Earnings of $0.86 per share and six-month Non-GAAP Operating Earnings of $2.41 per share. PSEG maintained, rather than changed, its full-year 2026 Non-GAAP Operating Earnings guidance of $4.28 to $4.40 per share. The filing does not state analyst consensus estimates.

  2. Why did GAAP net income fall so sharply compared with last year?

    Quarterly net income was $334 million versus $585 million a year earlier. The filing shows reconciling items that excluded from Operating Earnings include a $258 million pre-tax mark-to-market loss in Q2 2026 compared with a $190 million pre-tax mark-to-market gain in Q2 2025, and a $153 million pre-tax NDT gain in 2026 versus $108 million in 2025. PSEG Power & Other's net result also reflected these items.

  3. What drove the improvement in PSE&G results?

    The filing attributes PSE&G's Q2 results to ongoing investments in Energy Efficiency, Gas System Modernization and Transmission, partly offset by higher operation and maintenance costs, higher depreciation and interest expense, and a prior-year Transmission true-up. PSE&G's quarterly net income was $342 million versus $332 million.

  4. What is PSEG's capital investment outlook?

    PSEG's total five-year capital investment program for 2026 to 2030 is $24 billion to $28 billion, with more than 90% directed to regulated investments according to the presentation. The regulated capital spending plan for 2026 is about $4.2 billion, and management said the program can be funded without issuing new equity or selling assets.

  5. What is the outlook for nuclear generation and dividends?

    The presentation states that total nuclear generation for 2026 is forecast at 30 to 32 TWh and that over 95% of expected 2026 nuclear output is hedged. PSEG raised its 2026 indicative annual common dividend by $0.16 per share, described as the 15th consecutive annual increase, and management said it expects to pursue consistent and sustainable dividend growth.

04—Continue

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