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Public Service Enterprise Group 8-K Report, Financial Results (Nov 2, 2026)

Reports
Earnings & Results·Regulation FD·Exhibits & Filings
Filing Date
Filed November 2, 2026
Period End
November 2, 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 · Apr ’22Apr ’22
  4. Leadership change8-K · Jan ’26Jan ’26

01—Abstract

Summary

Summary of the 8-K filed November 2, 2026. Cited figures are marked; the original filing is the authoritative source.

Public Service Enterprise Group (NYSE: PEG) reported third quarter and nine-month 2026 results on November 2, 2026, in an 8-K furnishing an earnings press release (Exhibit 99) and an earnings call slideshow (Exhibit 99.1).

PSEG reported Q3 2026 net income of $376 milliona, or $0.76 per diluted share, versus $622 million, or $1.24 per share, a year earlier. Non-GAAP Operating Earnings were $574 million, or $1.15 per share, compared with $565 million, or $1.13 per share, in Q3 2025. For the nine months ended September 30, 2026, net income was $1,451 million ($2.91 per share) and Non-GAAP Operating Earnings were $1,777 million ($3.56 per share).

PSEG reaffirmed its 2026 Non-GAAP Operating Earnings guidance of $4.28 to $4.40b per share. PSE&G contributed $506 million of Q3 net income, slightly below $515 million a year earlier, with the company citing higher depreciation and interest costs on investments not yet in rates. PSEG Power & Other posted a Q3 net loss of $130 million, compared with net income of $107 million in the prior year, driven by mark-to-market and Nuclear Decommissioning Trust losses excluded from Operating Earnings.

Its Non-GAAP Operating Earnings rose to $68 millionc from $50 million, helped by lower operating and maintenance costs from the absence of the Hope Creek refueling outage, higher realized prices and increased nuclear generation. PSEG Nuclear reported a 95.5% capacity factor for the quarter.

Management reiterated a 6% to 8% compound annual growth target for Non-GAAP Operating Earnings through 2030 and a five-year capital investment plan of $24 billion to $28 billiond, which it says can be funded without issuing new equity or selling assets. At September 30, 2026, the filing shows total debt of $25.6 billion and total liquidity of approximately $3.9 billion.

02—Key points

Key Highlights

  1. Q3 2026 net income of $376 million ($0.76 per share), down from $622 million ($1.24 per share) in Q3 2025, driven mainly by PSEG Power & Other.
  2. Q3 2026 Non-GAAP Operating Earnings of $574 million ($1.15 per share), up from $565 million ($1.13 per share) a year earlier.
  3. 2026 Non-GAAP Operating Earnings guidance of $4.28 to $4.40 per share reaffirmed; nine-month Non-GAAP Operating Earnings were $3.56 per share.
  4. PSE&G Q3 net income of $506 million versus $515 million, with higher depreciation and interest costs on investments not yet in rates cited as a factor.
  5. PSEG Power & Other Q3 net loss of $130 million, reflecting mark-to-market and Nuclear Decommissioning Trust losses excluded from Operating Earnings.
  6. Nuclear fleet delivered 8.2 TWh in Q3 at a 95.5% capacity factor; Salem Unit 1 began a refueling outage after a 491-day breaker-to-breaker run.
  7. Long-term growth target of 6% to 8% compound annual Non-GAAP Operating Earnings growth through 2030, with a $24 billion to $28 billion five-year capital plan funded without new equity or asset sales.

03—Questions

Frequently Asked Questions

  1. Did PSEG meet its earnings expectations for the third quarter of 2026?

    The filing says the third quarter and year-to-date results 'align with our expectations for the full-year,' and PSEG reaffirmed its 2026 Non-GAAP Operating Earnings guidance of $4.28 to $4.40 per share. Q3 Non-GAAP Operating Earnings were $1.15 per share, compared with $1.13 per share a year earlier.

  2. Why did GAAP net income fall so sharply from the prior year?

    Q3 net income was $376 million ($0.76 per share), compared with $622 million ($1.24 per share) in Q3 2025. The filing attributes the decline mainly to PSEG Power & Other, which posted a $130 million net loss, including mark-to-market losses of $251 million and Nuclear Decommissioning Trust losses of $21 million. These items are excluded from Non-GAAP Operating Earnings.

  3. What drove the performance of PSE&G and PSEG Power & Other this quarter?

    PSE&G's results were driven by investments in Energy Efficiency and Transmission and gradual customer growth, more than offset by higher depreciation and interest costs on investments not in current rates and the timing of taxes. PSEG Power & Other benefited from lower operating and maintenance costs due to the absence of last year's Hope Creek refueling outage, higher realized prices and more nuclear generation, partly offset by higher taxes.

  4. How is PSEG planning to fund its growth?

    Management said its five-year capital investment plan of $24 billion to $28 billion can be funded without the need to issue new equity or sell assets. The company also cited a long-term target of 6% to 8% compound annual growth in Non-GAAP Operating Earnings through 2030 and an opportunity for consistent and sustainable dividend growth.

04—Continue

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