Public Service Enterprise Group (PEG) Beats Estimates in Q1, Reaffirms 2026 Outlook

Public Service Enterprise Group Incorporated (NYSE:PEG) is included among the 12 Best Electric Utility Stocks to Buy for the Data Center Surge.

Public Service Enterprise Group (PEG) Beats Estimates in Q1, Reaffirms 2026 Outlook

Public Service Enterprise Group Incorporated is a predominantly regulated energy company that engages in the provision of electric and gas services.

Public Service Enterprise Group Incorporated topped estimates in its Q1 2026 report on May 5, supported by the extreme winter weather that ‌drove demand across its electric and gas businesses. The company’s adjusted EPS of $1.55 beat expectations by $0.12, while its revenue also surged by 19.5% YoY to $3.85 billion and comfortably exceeded forecasts by $496 million.

Public Service Enterprise Group Incorporated’s electricity sales rose 4% YoY during the quarter, while gas volumes sold ‌and ⁠transported also surged by 7% as the worst winter storm in 30 years in the New Jersey-based utility’s service area drove the company’s highest gas send-out since ​2019.

Public Service Enterprise Group Incorporated reaffirmed its operating earnings guidance of $4.28 to $4.40 per share for FY 2026, up 7% YoY at the midpoint. The company is targeting a long-term adjusted earnings growth outlook of 6%-8% through the end of the decade, citing robust regulated investments and nuclear generation cash flows as key drivers. Moreover, it also outlined a 5-year regulated capital investment plan of $22.5 billion to $25.5 billion to keep up with the soaring demand.

READ NEXT: 10 Best Electrical Infrastructure Stocks to Buy According to Hedge Funds and 10 Best Fortune 500 Stocks to Buy According to Analysts

Follow Insider Monkey on Google News.