Public Service Enterprise Group Incorporated (PEG) Earnings Call Transcripts

Public Service Enterprise Group Incorporated's Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Public Service Enterprise Group (PSEG) reported net income of $1.48 per share and non-GAAP operating earnings of $1.55 per share, reflecting a solid start to the year. The results were driven by ongoing investments in utility infrastructure and higher gas volume, despite the absence of the zero emission certificate program. PSEG maintained its full-year non-GAAP operating earnings guidance of $4.28 to $4.40 per share, signaling confidence in its operational strategy amidst challenging weather conditions.

Reported metrics

Guidance from management

PSEG is reaffirming its full-year 2026 non-GAAP operating earnings guidance of $4.28 to $4.40 per share, maintaining a positive outlook for the year based on current operational performance.

What management said

And [ Constatin ], just inherent within your question, you did talk about cost allocation and I think very consistent with some of our actions related to a FERC decision around cost allocation. We're going to continue to look out for our customers and in this instance like in the one that I'm referencing and that we talked about within the prepared remarks, we'll continue to make sure that those allocations to the be...

Yes. The license extension, the Salem units have current licenses that run through 2036 and 2040. Anything we would do to extend that another 20 years would happen in advance of that. But what we've talked about with respect to the uprate by comparison, we said either the outage in '27 or the outage in '29 is when we would anticipate those coming on. So there will be activity, I think, on the license extension, but I...

What analysts pressed on

Analysts expressed concerns regarding the potential impact of regulatory changes on cost allocations and the implications for customer rates. There were also questions about the company's participation in upcoming PJM capacity auctions and the overall reliability of the grid amidst increasing demand.

Main topics on the call

• Maintaining Earnings Guidance — PSEG is maintaining its full-year non-GAAP operating earnings guidance in the range of $4.28 to $4.40 per share, reflecting confidence in their operational performance despite external challenges. CEO Ralph LaRossa state...
• Impact of Winter Weather — The harsh winter conditions did not significantly impact PSEG's utility margins, with the company reporting that their systems held up well during extreme weather events. LaRossa noted, "PSE&G initiated its winter weathe...
• Infrastructure Investments — PSEG is on track with a capital spending plan of approximately $4.2 billion for 2026, focusing on energy efficiency, infrastructure modernization, and system reliability. LaRossa emphasized the importance of these invest...
• Regulatory Developments — PSEG is actively engaging with the New Jersey Board of Public Utilities regarding utility business model regulations, indicating a collaborative approach to address affordability for customers. LaRossa mentioned, "I feel...

Read the full Public Service Enterprise Group Incorporated transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 31 Public Service Enterprise Group Incorporated earnings call transcripts on record, spanning February 26, 2020 to May 5, 2026. Based on this history, Public Service Enterprise Group Incorporated reports quarterly. The most recent call on file is dated May 5, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

PEG

Exchange

NYSE

Country

US

Sector

Utilities

Industry

Multi-Utilities

Calls on record

31

First call

February 26, 2020

Most recent

May 5, 2026

Reporting cadence

quarterly