Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
The utility earned more than the whole group
PSE&G's steady profit was larger than PSEG's total, so the nuclear and other businesses lost money this quarter.
For investorsWhat has to hold for the utility to keep carrying the group?
For foundersTurning approved spending into earnings
Hedges on future nuclear output were marked down, so operating income fell 27.3% while revenue fell 6.4%.
Borrowing funds the investment the utility earns its return on, so approved rates must keep pace with costlier debt.
Decoupling strips most volume risk from the utility, so earnings grow as approved investment enters the rate base.
Unlock the financial breakdown, competitive insights, historical trends and founder playbook, plus research across the company library.
Free CXProWealth membership required
Business Lens describes Public Service Enterprise Group from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
