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.
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.