PSEG Reports Strong 2025 Earnings, Raises 2026 Guidance & Dividend

summarizeSummary

PSEG announced strong 2025 financial results, initiated higher 2026 earnings guidance, increased its long-term capital spending plan and growth targets, and raised its annual dividend by 6%.

check_boxKey Events

• 2025 Financial Performance

  Reported full-year 2025 non-GAAP operating earnings of $4.05 per share, a 10% increase over 2024, meeting or exceeding guidance for the 21st consecutive year.

• 2026 Earnings Guidance

  Initiated 2026 non-GAAP operating earnings guidance of $4.28-$4.40 per share, representing a 7% increase at the midpoint over 2025 results.

• Increased Capital Spending

  Raised the regulated 5-year capital spending plan to $22.5 billion - $25.5 billion through 2030, supporting a rate base compound annual growth rate (CAGR) of 6%-7.5%.

• Long-Term Growth Target

  Updated the long-term non-GAAP operating earnings growth target to 6%-8% through 2030, rebasing higher for the second consecutive year.

auto_awesomeAnalysis

Public Service Enterprise Group (PSEG) delivered robust financial results for 2025, exceeding management's non-GAAP operating earnings guidance for the 21st consecutive year. The company provided an optimistic outlook for 2026, initiating guidance for non-GAAP operating earnings that represents a 7% increase over 2025. This positive forecast is supported by an expanded 5-year capital spending plan and an updated long-term earnings growth target of 6%-8% through 2030. Furthermore, the board approved a 6% increase in the annual common dividend, marking the 15th consecutive annual raise, signaling strong confidence in future performance and commitment to shareholder returns.