1. $1.18 EPS and $1.43 non-GAAP EPS show solid growth. 2. PSEG maintains 2025 non-GAAP earnings guidance of $3.94-$4.06. 3. Winter weather led to highest gas/electric peak loads in six years. 4. Dividend increased to $0.63 per share; 5% growth for 2025. 5. Significant capital investments support infrastructure and customer demand.
PSEG's strong earnings beat expectations, reflecting solid operational performance. Historical patterns show that consistent earnings growth often leads to stock upticks.
Positive earnings and guidance are critical indicators for investors. The increased dividend also reflects financial health, making the information highly relevant to PEG.
The immediate market response to positive earnings can lead to short-term price increases, catalyzed by dividend growth and strong guidance.
Maintains 2025 Non-GAAP Operating Earnings Guidance of $3.94 - $4.06 Per Share
NEWARK, N.J., April 30, 2025 /PRNewswire/ -- Public Service Enterprise Group (NYSE: PEG) reported the following results for the first quarter 2025:
| Income | 1Q 2025 | 1Q 2024 | Earnings Per Share | 1Q 2025 | 1Q 2024 |
|---|---|---|---|---|---|
| Net Income | $589M | $532M | $1.18 | $1.06 | |
| Reconciling Items | $129M | $125M | $0.25 | $0.25 | |
| Non-GAAP Operating Earnings | $718M | $657M | $1.43 | $1.31 | |
| Average Shares Outstanding (Diluted) | 500M | 500M | |||
See Attachments 7 and 8 for a complete list of items excluded from Net Income in the determination of non-GAAP Operating Earnings.
"PSEG delivered a solid operating and financial performance to begin the year. Our service territory experienced multiple cold spells in January and February with temperatures remaining below 20°F for several days in a row, prompting the highest winter peak load for both gas and electric in the last six years. During these challenging conditions, our electric and gas operations maintained high levels of reliability and efficient customer response times," said Ralph LaRossa, PSEG's chair, president and CEO.
"Our regulated capital investment plan for 2025 remains focused on infrastructure replacement and modernization to ensure safe and reliable service, and to meet growing customer demand. PSE&G also began rolling out the second phase of its Clean Energy Future - Energy Efficiency II program, which helps customers save energy, lower their bills, and reduce carbon emissions while supporting job training and economic growth in New Jersey."
"PSE&G experienced another quarterly increase in large load inquiries for new service connections. This pipeline totaled over 6,400 MW of capacity requested as of March 31..."
"At PSEG Nuclear, we generated approximately 8.4 terawatt hours of energy during the first quarter, supplying the grid with 24x7, carbon-free power and achieving a capacity factor of 99.9%."
LaRossa added, "PSEG's focus on increasing the predictability of our results continues to benefit both customers and the company..."
| ($ millions) | 1Q 2025 | 1Q 2024 |
|---|---|---|
| PSE&G Net Income/Non-GAAP Operating Earnings | $546 | $488 |
| PSEG Power & Other Net Income | $43 | $44 |
| Total PSEG Net Income | $589 | $532 |
| Total PSEG Non-GAAP Operating Earnings | $718 | $657 |
PSEG will host a conference call to review its first quarter 2025 results, earnings guidance, and other matters with the financial community at 11:00 a.m. ET today. Please register to access this event by visiting: https://investor.pseg.com/investor-news-and-events
Public Service Enterprise Group (PSEG) (NYSE: PEG) is a predominantly regulated infrastructure company operating New Jersey's largest transmission and distribution utility, serving approximately 2.4 million electric and 1.9 million natural gas customers.
Non-GAAP Financial Measures management uses non-GAAP Operating Earnings in its internal analysis, and in communications with investors and analysts...
Forward-Looking Statements Certain of the matters discussed in this report about our and our subsidiaries' future performance ...
For more information, visit PSEG’s Investor Relations website at https://investor.pseg.com.