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Public Service Enterprise Group Incorporated

Q2 FY26Multi-Utilities

Public Service Enterprise Group Incorporated Q2 FY26 Results — Earnings Call Analysis

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹79
Market cap₹39.4K Cr
P/E17.7
Updated29 May 2026
Read4 min read

What the Q2 FY26 call signalled

2 of 3 strong

RevenueSlow growth
MarginMargins up
CapexCapex planned

The short version

- PSEG anticipates a 6% to 8% compounded annual growth rate (CAGR) in non-GAAP operating earnings through 2030 based on its strategic plan execution. - PSEG maintains full-year 2026 non-GAAP operating earnings guidance of $4.28 to $4.40 per share.

From Public Service Enterprise Group Incorporated's Q2 FY26 earnings-call transcript · updated 29 May 2026.

Revenue & Sales Performance

Slow growth
  • PSEG anticipates a 6% to 8% compounded annual growth rate (CAGR) in non-GAAP operating earnings through 2030 based on its strategic plan execution.
  • The 5-year regulated capital investment plan projects $22.5 billion to $25.5 billion for PSE&G through 2030, supporting 6% to 7.5% compound annual growth in rate base.
  • Incremental opportunities such as nuclear revenue above market prices, additional competitive transmission solicitations, and connecting several thousand megawatts of solar and battery storage could add to growth beyond the anticipated CAGR.

2 more points from Public Service Enterprise Group Incorporated's call on revenue

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Profitability & Margins

See what Public Service Enterprise Group Incorporated said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex planned
  • PSE&G's 5-year regulated capital investment plan remains $22.5 billion to $25.5 billion through 2030, supporting infrastructure modernization, energy efficiency, electrification initiatives, and load growth.
  • 2026 capital investment plan targets approximately $4.2 billion for the year, with about $800 million invested in Q1.
  • GSMP III program began in Q1 2026 with a planned $1.4 billion investment over 3 years, including $1 billion and accelerated recovery of $360 million in stipulated base.
  • Nuclear uprates at Salem units are planned for outages in 2027 or 2029; capital for this is included in the current plan.
  • License extension for nuclear units is being evaluated, with potential CapEx forecasted once NRC feedback is received; some work may extend beyond the 5-year plan.

2 more points from Public Service Enterprise Group Incorporated's call on capex

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Fundraising & Capital Structure

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Order Book & Pipeline

  • Discussion mainly focuses on PJM transmission open windows and competitive bidding for transmission projects.
  • Daniel Cregg mentioned careful assessment of opportunities during PJM transmission open windows, with plans to submit competitive bids depending on strategic fit.
  • There is ongoing activity to serve large loads, including data centers, with interest leveling off in New Jersey but continuing in Pennsylvania.

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Frequently Asked Questions

What were Public Service Enterprise Group Incorporated Q2 FY26 results?

- PSEG anticipates a 6% to 8% compounded annual growth rate (CAGR) in non-GAAP operating earnings through 2030 based on its strategic plan execution. - PSEG maintains full-year 2026 non-GAAP operating earnings guidance of $4.28 to $4.40 per share.

What is Public Service Enterprise Group Incorporated share price analysis?

Public Service Enterprise Group Incorporated currently shows a neutral. The stock trades at a P/E of 17.7 with a market cap of $39,442. Investors should review the full earnings analysis for detailed insights.

Is Public Service Enterprise Group Incorporated planning capital expenditure?

- PSE&G's 5-year regulated capital investment plan remains $22.5 billion to $25.5 billion through 2030, supporting infrastructure modernization, energy efficiency, electrification initiatives, and load growth.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.