PSEG ANNOUNCES SECOND QUARTER 2026 RESULTS

Public Service Enterprise Group (PSEG) reported its financial results for the second quarter and the first half of 2026, indicating a net income of $334 million, or $0.67 per share, compared to $585 million, or $1.17 per share in the same period of 2025. Non-GAAP operating earnings for the quarter stood at $425 million, or $0.86 per share, an increase from $384 million, or $0.77 per share in the prior year.

For the six months ending June 30, 2026, net income decreased to $1,075 million, or $2.15 per share, from $1,174 million, or $2.35 per share in 2025. Non-GAAP operating earnings for this period were $1,203 million, or $2.41 per share, compared to $1,102 million, or $2.20 per share for the same time frame last year.

Ralph LaRossa, PSEG's chair, president, and CEO, noted that the company's strategic execution has led to reliable electric and gas systems, capable of withstanding severe weather conditions. He cited the restoration of service to approximately 380,000 customers after a storm in early July, emphasizing the effectiveness of system-reliability investments and rapid response efforts.

In addition, LaRossa highlighted PSE&G's record peak summer load of 10,446 MW on July 2, marking the highest demand in 14 years. He noted that the Clean Energy Future programs have provided over $1 billion in customer savings since their inception in 2020, positively impacting nearly 525,000 residential and business customers.

PSEG also plans to lower residential gas bills by 5% starting October 1, as part of its ongoing commitment to providing cost-effective services. The company maintained its guidance for 2026 non-GAAP operating earnings at $4.28 to $4.40 per share and reaffirmed a five-year growth outlook of 6% to 8% through 2030.