Public Service Enterprise Group Incorporated (PSEG) announced its financial results for the three and nine months ended September 30, 2026. The company reported Non-GAAP Operating Earnings of $1.15 per share for the third quarter of 2026, compared to $1.13 per share in the same period of the prior year. For the nine months ended September 30, 2026, Non-GAAP Operating Earnings totaled $3.56 per share, an increase from $3.33 per share in the first nine months of 2025.
Consolidated Net Income for the third quarter of 2026 was $376 million, or $0.76 per share, a decrease from $622 million, or $1.24 per share, in the third quarter of 2025. For the year-to-date period, Net Income was $1.451 billion, or $2.91 per share, down from $1.796 billion, or $3.59 per share, in the prior year. The company attributes the decrease in Net Income to higher depreciation and interest costs related to incremental investments and the timing of taxes.
PSEG reaffirmed its 2026 guidance for Non-GAAP Operating Earnings, maintaining the range of $4.28 to $4.40 per share. The company stated that its financial results for the third quarter and year-to-date align with expectations for the full year. PSEG also highlighted its operational performance, noting that its utility crews restored service to nearly all affected customers in New Jersey within a 24-hour period following severe weather events in July and September.
Regarding its nuclear operations, PSEG Nuclear supplied the regional grid with 8.2 terawatt-hours (TWh) of carbon-free baseload energy during the third quarter, operating at a capacity factor of 95.5%. The Salem unit #1 recently entered its fall refueling following a 491-day breaker-to-breaker run.
PSEG outlined its long-term strategy to grow Non-GAAP Operating Earnings by a compound annual rate of 6% to 8% through 2030. The company plans to fund a five-year capital investment plan totaling $24 billion to $28 billion without issuing new equity or selling assets.
