GET DAILY SIGNALSPublic Service Enterprise Group (PEG) Reports Mixed Q3 2026 Earnings While Holding to Guidance
Key Takeaways
- Public Service Enterprise Group (PEG) reported third quarter 2026 net income of $0.76 per share, down from $1.24 per share in the same period a year earlier.
- Non-GAAP operating earnings (adjusted to exclude certain one-time and non-cash items) came in at $1.15 per share, up from $1.13 per share year over year but below consensus estimates of $1.21 per share.
- Total operating revenues were $3.02 billion, missing the roughly $3.22 billion analysts had expected and down from $3.23 billion a year ago.
- Management reaffirmed full-year 2026 non-GAAP operating earnings guidance of $4.28 to $4.40 per share and its 6%–8% long-term growth outlook through 2030.
- The regulated utility PSE&G contributed $506 million in quarterly earnings, while the PSEG Power & Other segment reported a $130 million net loss driven by non-cash mark-to-market and trust-related items.
- For more detail on the company's Major News, Today's Price Move, Price Targets, and Forecast, explore these additional pages.
- Investors can also explore Trending AI Robots for additional market insights and automated analysis tools.
Why These Results Matter in Context
Public Service Enterprise Group operates New Jersey's largest electric and gas transmission and distribution utility, serving roughly 2.4 million electric and 1.9 million natural gas customers, alongside an independent fleet of carbon-free nuclear generating units. As a predominantly regulated infrastructure business, its quarterly results offer investors a window into the pace of rate-base growth, capital deployment, and the performance of its competitive power generation arm. This report matters because it tests whether steady regulated investment can continue to offset cost pressures such as higher depreciation and interest expense, while the nuclear segment's contribution and forward hedging shape the company's earnings quality. With management reaffirming its full-year and long-term outlook, the quarter reinforces the durability of the utility's growth story even as headline results fell short of expectations. I also checked this using Tickeron’s AI Screener to see how PEG compares to others in the industry.
Breaking Down the Reported Numbers
For the three months ended September 30, 2026, PSEG reported net income of $376 million, or $0.76 per share, compared with $622 million, or $1.24 per share, in the prior-year period. Non-GAAP operating earnings were $1.15 per share, up from $1.13 per share a year earlier but below the $1.21 per share consensus. Operating revenues of $3.02 billion declined from $3.23 billion and trailed analyst expectations of about $3.22 billion.
Results diverged sharply by segment. Regulated utility PSE&G recorded net income and non-GAAP operating earnings of $506 million, down from $515 million a year ago, as higher transmission and distribution margins were more than offset by increased depreciation, interest costs, and the timing of taxes. PSEG Power & Other posted a $130 million net loss, versus net income of $107 million a year earlier, though its non-GAAP operating earnings improved to $68 million from $50 million, aided by the absence of a prior-year refueling outage and stronger nuclear output. The nuclear fleet achieved a 95.5% capacity factor for the quarter. From what I see, the nuclear performance stands out as a positive offset to the headline pressures.
How the Market Reacted
PEG shares slipped about 1.35% to $73.24 in trading following the announcement, reflecting investor focus on the top- and bottom-line misses relative to consensus even as the company reaffirmed its guidance. The market's measured response underscores a tension in sentiment: on one hand, the regulated utility continues to execute its capital program and the nuclear fleet is running well, but on the other, higher depreciation and interest costs and non-cash items weighed on the headline figures. The reaffirmation of full-year 2026 non-GAAP operating earnings guidance of $4.28 to $4.40 per share appeared to blunt the downside, signaling that management views the quarterly shortfall as largely timing-related rather than a signal of weakening fundamentals.
What Lies Ahead and Factors to Monitor
Looking ahead, investors should watch how PSEG manages regulatory lag and financing costs. The company is on track with its roughly $4.2 billion regulated capital plan for 2026 and maintains a five-year regulated capital program of $22.5 billion to $25.5 billion through 2030, with more than 90% allocated to regulated investments. Management has stated it can fund this spending without issuing new equity.
A key near-term catalyst is the upcoming New Jersey base rate filing, which aims to address the gap between capital deployed and the revenue recovered in current rates. Constructive outcomes there would support the utility's margin trajectory. In the power segment, the widening basis differential between the PECO zone and the PJM Western hub (PJM is the regional grid operator) bears watching, though the company's hedging strategy limits direct exposure, with more than 95% of expected 2026 nuclear output already hedged.
Additional upside could come from nuclear contracting opportunities tied to large-load customers, competitive transmission wins, and potential regulated solar and storage investments. At the same time, regulatory uncertainty around PJM's reliability backstop procurement and higher long-term interest rates on maturing debt remain factors to monitor. The company's reaffirmed 6%–8% earnings growth outlook through 2030 provides a long-term anchor, but near-term results will depend on how these cost and regulatory dynamics evolve.
Exploring AI Tools in My Research Process
When reviewing utility names like PEG, I find it helpful to cross-reference traditional analysis with AI-driven screening tools. Tickeron's AI Screener allows me to quickly filter for patterns, fundamentals, and sector trends that might otherwise take hours to uncover manually. This approach has become a regular part of how I validate earnings context and identify comparable opportunities across the energy space.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
PEG's MACD Histogram crosses above signal line
The Moving Average Convergence Divergence (MACD) for PEG turned positive on October 02, 2026. Looking at past instances where PEG's MACD turned positive, the stock continued to rise in 27 of 46 cases over the following month. The odds of a continued upward trend are 59%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 26, 2026. You may want to consider a long position or call options on PEG as a result. In 46 of 90 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 51%.
PEG moved above its 50-day moving average on October 22, 2026 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for PEG crossed bullishly above the 50-day moving average on October 26, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 9 of 16 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 56%.
Following a +1.02% 3-day Advance, the price is estimated to grow further. Considering data from situations where PEG advanced for three days, in 181 of 339 cases, the price rose further within the following month. The odds of a continued upward trend are 53%.
The Aroon Indicator entered an Uptrend today. In 124 of 267 cases where PEG Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 46%.
Bearish Trend Analysis
The RSI Oscillator demonstrated that the stock has entered the overbought zone. This may point to a price pull-back soon.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 6 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where PEG declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 49%.
PEG broke above its upper Bollinger Band on October 30, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
The Tickeron Profit vs. Risk Rating rating for this company is 43 (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 50, placing this stock slightly better than average.
The Tickeron Price Growth Rating for this company is 49 (best 1 - 100 worst), indicating steady price growth. PEG’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 56 (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is 65 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of 85 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.139) is normal, around the industry mean (2.063). P/E Ratio (18.457) is within average values for comparable stocks, (14.957). PEG's Projected Growth (PEG Ratio) (3.154) is slightly higher than the industry average of (1.785). Dividend Yield (0.036) settles around the average of (0.053) among similar stocks. P/S Ratio (2.809) is also within normal values, averaging (187.392).
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Advertisement
General Information
a distributor of electricity and natural gas
Industry ElectricUtilities
Advertisement