Overview

* PSEG Q3 adjusted EPS of $1.13 beats analyst expectations

* Net income for Q3 rises to $622 mln from $520 mln in 2024

* Company narrows 2025 non-GAAP earnings guidance to $4.00-$4.06 per share

Outlook

* PSEG narrows 2025 non-GAAP operating earnings guidance to $4.00-$4.06 per share

* Company reaffirms 5%-7% non-GAAP operating earnings growth outlook through 2029

* PSEG plans $22.5 bln to $26 bln capital investment over five years

Result Drivers

* NEW RATES - PSEG's Q3 results reflect the impact of new electric and gas rates from the October 2024 base rate case settlement

* REGULATED INVESTMENTS - PSEG invested $1 bln in Q3 and $2.7 bln YTD in energy infrastructure and efficiency programs

* NUCLEAR OPERATIONS - Hope Creek unit completed a 499-day run, extending its fuel cycle to 24 months for increased output

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $3.22

OPERATIN bln

G

Revenue

Q3 Beat $1.13 $1.01

Adjusted (15

EPS Analysts

)

Q3 Net $622 mln

Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 14 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the multiline utilities peer group is "buy"

* Wall Street's median 12-month price target for Public Service Enterprise Group Inc ( PEG ) is $89.00, about 9.5% above its October 31 closing price of $80.56

* The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 21 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)