PEG Q1 Earnings Beat Expectations, Revenues Increase Y/Y

Public Service Enterprise Group Incorporated PEG, or PSEG, reported first-quarter 2026 adjusted earnings of $1.55 per share, which beat the Zacks Consensus Estimate of $1.47 by 5.6%. Earnings increased 8.4% from the prior-year reported figure of $1.43.

The company reported GAAP earnings per share (EPS) of $1.48 compared with $1.18 in the corresponding period of 2025.

PEG’s Total Revenues

Operating revenues totaled $3.85 billion, which surpassed the Zacks Consensus Estimate of $3.27 billion by 17.6%. The top line also increased 19.4% from the year-ago figure of $3.22 billion.

Sales Volume of PEG

Electric sales volume totaled 10,371 million kilowatt-hours, which increased 4% year over year. On the other hand, gas sales volume rose 7% to 1,464 million therms.

Under electric sales, residential sales volume totaled 3,490 million kilowatt-hours, up 6% from the prior-year figure. Its commercial and industrial sales volume totaled 6,784 million kilowatt-hours, reflecting year-over-year growth of 3%.

Other sales amounted to 97 million kilowatt-hours, down 4% from the year-ago recorded number.

Total gas sales witnessed year-over-year growth of 5% in firm sales volume. Non-firm gas sales volume increased 24%.

Highlights of PEG’s Earnings Release

The operating income totaled $1.08 billion compared with $0.8 billion in the year-ago period, reflecting an increase of 34.9%.

Total operating expenses were $2.77 billion, up 14.4% from the year-ago figure.

Interest expenses amounted to $272 million, which increased 12.9% year over year.

Segmental Performance of PEG

PSE&G: This segment’s net income was $577 million, up from $546 million in the first quarter of 2025.

PSEG Power & Other: Adjusted operating income for this unit amounted to $201 million compared with $172 million in the prior-year quarter.

Financial Update of PEG

The long-term debt (including the current portion of the long-term debt) as of March 31, 2026 was $23.09 billion compared with $22.55 billion as of Dec. 31, 2025.

The net cash flow from operating activities was $1.27 billion during the first three months of 2026 compared with $1.05 billion during the first three months of 2025.

PEG’s 2026 Guidance

PEG expects adjusted earnings to be in the range of $4.28-$4.40 per share. The Zacks Consensus Estimate for earnings is currently pegged at $4.36, which lies above the midpoint of the company’s guided range.

PEG’s Zacks Rank

PEG currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Utility Releases

Edison InternationalEIX reported first-quarter 2026 adjusted earnings of $1.42 per share, which surpassed the Zacks Consensus Estimate of $1.32 by 7.6%. The bottom line also increased 3.6% from $1.37 in the year-ago quarter.

Edison International's first-quarter operating revenues totaled $4.1 billion, which beat the Zacks Consensus Estimate of $3.99 billion by 2.8%. The top line also increased 7.7% from the year-ago quarter’s figure of $3.81 billion.

CenterPoint Energy, Inc.CNP reported first-quarter 2026 adjusted earnings of 56 cents per share, which missed the Zacks Consensus Estimate of 58 cents by 3.8%. However, the bottom line increased 5.7% from 53 cents in the year-ago quarter.

CNP generated revenues of $2.98 billion, which lagged the Zacks Consensus Estimate of $3.04 billion by 1.4%. However, the top line improved 2% from the year-ago reported figure of $2.92 billion. 

PG&E CorporationPCG reported first-quarter 2026 adjusted earnings per share (EPS) of 43 cents, which beat the Zacks Consensus Estimate of 39 cents by 10.3%. The bottom line also increased 30.3% from the year-ago quarter’s figure of 33 cents.

PCG reported first-quarter total revenues of $6.88 billion, up 15% from $5.98 billion registered in the year-ago period. The top line also surpassed the Zacks Consensus Estimate of $6.46 billion by 6.6%.

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This article originally published on Zacks Investment Research (zacks.com).

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