Public Service Enterprise Q2 Earnings Beat Estimates, Revenues Increase Y/Y

Core Insights - Public Service Enterprise Group Incorporated (PSEG) reported second-quarter 2025 adjusted earnings of 77 cents per share, exceeding the Zacks Consensus Estimate of 71 cents by 8.5% and reflecting a 22.2% increase from the prior year's figure of 63 cents per share [1][8] - Total revenues reached $2.81 billion, surpassing the Zacks Consensus Estimate of $2.35 billion by 19.6% and increasing 15.8% from $2.42 billion in the previous year [2][8] Revenue and Sales Performance - Operating revenues totaled $2.81 billion, which is a 15.8% increase year-over-year [2] - Electric sales volume was 9,455 million kilowatt-hours, down 4% year-over-year, while gas sales volume increased by 28% to 702 million therms [3] - Residential electric sales volume decreased by 7% to 3,142 million kilowatt-hours, and commercial and industrial sales volume declined by 2% to 6,252 million kilowatt-hours [3] Earnings and Expenses - Operating income was $817 million, a 40.4% increase from $582 million in the prior-year period [5] - Total operating expenses rose by 8% to $1.99 billion, with interest expenses increasing by 13.8% to $248 million [5] Segment Performance - The PSE&G segment reported net income of $332 million, up from $302 million in the second quarter of 2024 [6] - Adjusted operating income for the PSEG Power & Other segment was $52 million, compared to $11 million in the prior-year quarter [6] Financial Position - Long-term debt as of June 30, 2025, was $22.64 billion, up from $21.11 billion as of December 31, 2024 [7] - Net cash flow from operating activities for the first half of 2025 was $1.53 billion, compared to $1.14 billion in the same period of 2024 [7] Guidance - PSEG reaffirmed its 2025 EPS guidance, expecting adjusted earnings to be in the range of $3.94-$4.06 per share, with the Zacks Consensus Estimate currently at $4.01 per share [9]