PSEG Q3 2026: $1.15 operating EPS misses consensus, Power posts a loss
PSEG's quarter was weaker at the headline than underneath: GAAP net income fell to $376 million from $622 million, and $1.15 of operating EPS landed $0.06 below the $1.21 consensus. The cause is largely a $251 million pre-tax mark-to-market loss at the power business, not the regulated utility, which earned $506 million and keeps full-year guidance at $4.28–$4.40. Utilities like this are judged on the pipes and wires.
1 · Expected vs. Actual
Free preview belowGAAP earnings were $0.76 a share, down from $1.24 a year earlier, while operating earnings of $1.15 were up $0.02 year over year and $0.06 short of the $1.21 consensus. The $0.39 gap between GAAP and operating EPS is mostly the $251 million pre-tax mark-to-market loss at Power plus nuclear trust and tax adjustments that management strips out.
Revenue of $3.02 billion was down 6.4% from $3.23 billion in the same quarter last year, tracking the weaker power result rather than the utility. The segment line in the data shows only PSE&G at $506 million, which is that unit's net income, not its revenue, so the extract cannot split sales by business.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-02
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