#United States #Newark #Public Service Enterprise Group #PSEG #PSEG Third Quarter

PSEG Reports Significant Third Quarter Earnings for 2025

Public Service Enterprise Group (PSEG) has published its financial results for the third quarter ending September 30, 2025, showcasing a solid performance compared to the same period last year. The company reported a net income of $622 million, which translates to an earnings-per-share (EPS) of $1.24. This marks a notable increase from $520 million or $1.04 EPS reported in the third quarter of 2024.

Key Financial Highlights

In its unaudited third quarter results, PSEG’s non-GAAP operating earnings reached $565 million, leading to $1.13 EPS, a significant rise from $448 million and $0.90 EPS in the previous year. This growth can be attributed to the impact of new rates from their October 2024 base rate case settlement alongside higher power pricing. The company reported a $1 billion regulated investment in the quarter and $2.7 billion year-to-date as part of its ambitious capital spending program aimed at modernizing New Jersey’s energy infrastructure.

Operational Insights

PSEG Nuclear, a key component of the company's operations, supplied the grid with 7.9 TWh of reliable, carbon-free baseload energy, allowing PSEG to maintain financial flexibility for its ongoing investments. Specifically, the Hope Creek unit operated an impressive 499 consecutive days without refueling, further demonstrating PSEG’s commitment to energy efficiency. The Long Island Power Authority (LIPA) added to this momentum by approving a five-year contract extension with PSEG Long Island to provide operational services until 2030.

Growing Challenges and Future Outlook

While the company celebrates its financial victories, challenges remain on the horizon. PSEG has indicated a 20% rise in summer electric bills attributed to a growing supply-demand imbalance. To mitigate this issue, the company is actively working with the State and stakeholders to create better solutions that meet their customers' energy requirements affordably.

CEO Ralph LaRossa emphasized the company's adherence to its growth plan, focusing on maintaining operational excellence and sustaining affordable service. He reaffirmed PSEG's non-GAAP operating earnings growth outlook of 5% to 7% through 2029, aiming for continued investment opportunities to secure additional supply in response to rising customer demand.

Summary of Segment Performance

A breakdown of PSEG's operational results revealed:

• - PSEG Net Income/Non-GAAP Operating Earnings for the third quarter climbed to $515 million from $379 million, and the year-to-date figure rose to $1,393 million compared to $1,169 million in 2024.
• - PSEG Power & Other category reflected robust financial health with total net income of $622 million for Q3 and $1,796 million for the nine months.
• - Despite the challenges of higher operation and maintenance costs, PSEG's ability to navigate these issues has positioned them favorably for future growth.

Conclusion

PSEG's impressive results for the third quarter of 2025 illustrate a commitment to operational excellence and strategic investments. As the company addresses the challenges ahead, it remains focused on providing reliable and affordable energy solutions to its customers while driving sustainable growth.

For further details on PSEG’s financial performance and future outlook, interested parties can register for the conference call scheduled for 11:00 a.m. ET. PSEG continues to advocate for a cleaner, more efficient energy future, staying true to its vision of Powering Progress in the energy sector.