PEG Public Service Enterprise Group (PEG) Q3 FY25 earnings call
Public Service Enterprise Group delivered solid Q3 FY25 results, narrowing its full-year non-GAAP operating earnings guidance to the upper half of the previous range, driven by new distribution rates. The company reaffirmed its long-term EPS growth outlook and multi-year capital plan, emphasizing its strong balance sheet. Management highlighted the growing supply-demand imbalance in New Jersey, advocating for policy solutions and expressing readiness to work with the incoming administration on energy supply and affordability challenges.
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PEG operating KPIs by quarter
| KPI | This call Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|
| Capital expenditures PSE&G | — | — | ~$800MOn our regulated capital spending program, PSE&G invested approximately $800 million during the first quarter, and we remain on track to execute our full year 2026 plan, of approximately $4.2 billion, focused on continued investments in infrastructure modernization, energy efficiency, electrification initiatives and load growth.Source: earnings call transcript | ~$1BOn the capital front, PSE&G invested approximately $1 billion during the second quarter and is on track to execute our full year 2026 regulated capital investment plan, of approximately $4.2 billion, focused on continued investments in infrastructure modernization, energy efficiency, electrification initiatives and load growth.Source: earnings call transcript | — |
| Nuclear generation PSEG Nuclear | — | ~7.2 TWhOn the operating side, the nuclear fleet produced approximately 7.2 terawatt hours during the fourth quarter of 2025 compared to approximately 7.3 terawatt hours in the fourth quarter of 2024.Source: earnings call transcript | 8 TWhThat notable accomplishment contributed to a 95.5% capacity factor and supplied 8 terawatt hours of reliable, carbon-free baseload energy to New Jersey and the grid during the first quarter.Source: earnings call transcript | 7.8 TWhPSEG nuclear also performed well during the quarter, supplying the grid with 7.8 terawatt hours of carbon-free 24/7 baseload generation and achieving a capacity factor of 92% that included the second consecutive breakthrough breaker run at Salem Unit 2.Source: earnings call transcript | -2.5% |
| Nuclear generation capacity factor PSEG Nuclear | 92.4%Capacity factors for the nuclear fleet were 92.4% and 93.7% for the quarter and 9-month period ended September 30, 2025, respectively.Source: earnings call transcript | 83.7%Capacity factors for the nuclear fleet were 83.7% and 91.2% for the quarter and full year of 2025, respectively.Source: earnings call transcript | 95.5%That notable accomplishment contributed to a 95.5% capacity factor and supplied 8 terawatt hours of reliable, carbon-free baseload energy to New Jersey and the grid during the first quarter.Source: earnings call transcript | 92%PSEG nuclear also performed well during the quarter, supplying the grid with 7.8 terawatt hours of carbon-free 24/7 baseload generation and achieving a capacity factor of 92% that included the second consecutive breakthrough breaker run at Salem Unit 2.Source: earnings call transcript | -3.5 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.