PSEG Q2: GAAP EPS tumbles 43% on revenue decline, but adjusted EPS beats
PEG is trading near its 52-week low of $74.2 (2.8% above the low) on elevated volume (2.3× avg).
Summary
PSEG posted mixed Q2 2026 results: GAAP EPS dropped sharply to $0.67 from $1.17, missing on a revenue decline, but adjusted EPS of $0.86 beat estimates. The company reaffirmed its 2026 guidance.
Key Events · Earnings and Guidance · PEG
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GAAP EPS Miss
Q2 GAAP EPS fell 43% to $0.67 from $1.17 a year ago, driven by an 8.9% revenue decline to $2.55B and mark-to-market losses on energy hedges.
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Adjusted EPS Beat
Non-GAAP adjusted EPS of $0.86 exceeded the $0.80 consensus, supported by strong regulated utility earnings at PSE&G.
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Guidance Reaffirmed
PSEG reaffirmed its 2026 earnings guidance and long-term growth outlook, signaling confidence in its regulated investment strategy.
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Regulated Utility Strength
PSE&G, the regulated utility, saw earnings rise, benefiting from higher transmission and distribution revenues and continued infrastructure investment.
Analysis · PEG · Energy & Transportation
PSEG's Q2 GAAP EPS fell 43% to $0.67 from $1.17 a year ago, pressured by an 8.9% revenue decline to $2.55B and mark-to-market losses on energy hedges. Yet adjusted non-GAAP EPS of $0.86 beat the $0.80 consensus, thanks to strong regulated utility performance at PSE&G. The company reaffirmed its 2026 guidance and long-term growth outlook, signaling confidence in its core operations despite commodity headwinds. With the stock trading near its 52-week low, investors may focus more intently on the earnings miss and the sustainability of the regulated growth story.
How filings like this one have moved
In the 30 days to Oct 3, 2026, 29% of the 1653 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.58%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PEG was trading at $76.27 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $38B. The 52-week trading range was $74.20 to $91.26. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.