Public Service Enterprise Group Incorporated · NYSE:PEG
Public Service Enterprise — Q2 2026 Earnings Presentation
19 slides from Public Service Enterprise's earnings presentation, Aug 4, 2026
Slide 1: Public Service Enterprise Group Second Quarter 2026 Financial Results
Public Service Enterprise Group SECOND QUARTER 2026 NYSE: PEG Financial Results Presentation August 4, 2026
Slide 2: Forward-Looking Statements
PSEG Second Quarter 2026 Forward-Looking Statements Certain of the matters discussed in this report about our and our subsidiaries’ future performance, • development, adoption and use of Artificial Intelligence by us and our third-party vendors; including, without limitation, future revenues, earnin
Slide 3: GAAP Disclaimer
PSEG Second Quarter 2026 GAAP Disclaimer PSEG presents Operating Earnings in addition to its Net Income/(Loss) reported in Non-GAAP FFO reflects cash from operations excluding working capital and accordance with accounting principles generally accepted in the United States adjusts for certain items
Slide 4: Q2 and Year-to-Date 2026 Highlights
PSEG Second Quarter 2026 PSEG Q2 and Year-to-Date 2026 Highlights Second Quarter and YTD Results • Net Income of $0.67 per share in Q2 2026 and $2.15 per share YTD • Non-GAAP Operating Earnings of $0.86 per share in Q2 2026 and $2.41 per share YTD Operational Excellence • PSE&G responded to one of t
Slide 5: Outlook Maintained
PSEG Second Quarter 2026 PSEG Outlook Maintained 2026 guidance midpoint represents ~7% increase over 2025 results Continuing Execution of PSEG Strategic Plan • PSEG maintained 2026 non-GAAP Operating Earnings guidance of $4.28 - $4.40 per share • 2026 outlook driven by: o Regulated rate base increas
Slide 6: Strong Business Mix and Predictable Growth with Upside
PSEG Second Quarter 2026 Strong Business Mix and Predictable Growth with Upside Steady Execution grams for Residential and C&I Customers Alignment with NJ Energy Policy grams for Residential and C&I Customers Energy Solutions Provide Upside grams for Residential and C&I Customers • PSEG’s outlook fo
Slide 7: Q2 2026 Review
PSEG Second Quarter 2026 Q2 2026 Review 7
Slide 8: Q2 Results
PSEG Second Quarter 2026 PSEG Q2 Results PSEG Summary – Three Months ended June 30, Net Income/(Loss) ($ in millions) 2026 2025 Change PSE&G $342 $332 $10 PSEG Power & Other $(8) $253 $(261) Total PSEG $334 $585 $(251) Non-GAAP Operating Earnings ($ in millions) 2026 2025 Change PSE&G $342 $332 $10
Slide 9: EPS Reconciliation – Q2 Results
PSEG Second Quarter 2026 PSEG EPS Reconciliation – Q2 Results $1.20 $1.10 $1.17 $1.00 $1.10 ~ ~ $0.90 $0.06 $0.86 $0.03 $0.80 $0.77 Gross Margin 0.08 Transmission -- $ / share $0.70 Depreciation & Interest $0.67 Distribution: (0.01) Margin 0.05 Taxes & Other (0.01) $0.60 O&M (0.01) $0.50 Depreciatio
Slide 10: First Half Results
PSEG Second Quarter 2026 PSEG First Half Results PSEG Summary – Six Months ended June 30, Net Income ($ in millions) 2026 2025 Change PSE&G $919 $878 $41 PSEG Power & Other $156 $296 $(140) Total PSEG $1,075 $1,174 $(99) Non-GAAP Operating Earnings ($ in millions) 2026 2025 Change PSE&G $919 $878 $4
Slide 11: EPS Reconciliation – First Half Results
PSEG Second Quarter 2026 PSEG EPS Reconciliation – First Half Results $2.50 $0.12 $2.41 $2.35 $0.09 $2.25 $2.20 Gross Margin 0.08 $2.15 Transmission 0.01 O&M 0.06 $2.00 Distribution: Depreciation & Interest Margin 0.12 (0.02) $1.75 O&M (0.02) $ / share Depreciation & Interest $1.50 (0.04) Taxes & Ot
Slide 12: PSE&G Q2 and Year-to-Date 2026 Highlights
PSEG Second Quarter 2026 PSE&G Q2 and Year-to-Date 2026 Highlights Operations Regulatory and Market Environment • Residential Electric customer count grew by ~1% and Residential Gas customer • PSE&G filed with the BPU to lower residential gas heating bills by 5% effective count was flat for the trai
Slide 13: PSEG Power & Other
PSEG Second Quarter 2026 PSEG Power & Other Financial Considerations Nuclear Generation Measures • For 2026, total nuclear generation is forecasted to be 30-32 TWh Three Months Ended Six Months Ended June 30, June 30, • Realized energy price historically aligned with the PECO hub 2026 2025 2026 2025
Slide 14: Appendix
PSEG Second Quarter 2026 Appendix 14
Slide 15: Maintains a Solid Financial Position
PSEG Second Quarter 2026 PSEG Maintains a Solid Financial Position PSEG Public Service Electric & Gas PSEG Senior Unsecured Credit Ratings PSE&G Senior Secured Credit Ratings Moody’s = Baa2 / Outlook = Stable S&P = BBB / Outlook = Stable Moody’s = A1 / Outlook = Stable S&P = A / Outlook = Stable PSE
Slide 16: Liquidity as of June 30, 2026
PSEG Second Quarter 2026 PSEG Liquidity as of June 30, 2026 Expiration Total Available Company Facility Usage Date Facility Liquidity ($ millions) PSE&G Revolving Credit Facility March 2031 $1,000 $27 $973 PSEG Money Pool (A) PSEG/PSEG Power Revolving Credit Facility (PSEG) March 2031 $1,500 $470 $1
Slide 17: Glossary of Terms
PSEG Second Quarter 2026 PSEG Glossary of Terms A/C Air conditioner IAP Infrastructure Advancement Program PSEG Investor Relations AFUDC Allowance For Funds Used During Construction ICAP Installed Capacity 80 Park Plaza BGS Basic Generation Service LIPA Long Island Power Authority Newark NJ 07102 MW
Slide 18: Reconciliation of Non-GAAP Operating Earnings
PSEG Second Quarter 2026 Reconciliation of Non-GAAP Operating Earnings Public Service Enterprise Group Incorporated - Consolidated Operating Earnings (non-GAAP) Reconciliation (a) Includes the financial impact from positions with Three Months Ended Six Months Ended forward delivery months. Reconcili
Slide 19: Reconciliation of Non-GAAP Operating Earnings
PSEG Second Quarter 2026 Reconciliation of Non-GAAP Operating Earnings PSEG Power & Other Operating Earnings (non-GAAP) Reconciliation (a) Includes the financial impact from positions with Three Months Ended Six Months Ended forward delivery months. Reconciling Items June 30, June 30, (b) Income tax
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