PSEG Q1 2025 Earnings Report
Key Takeaways
Public Service Enterprise Group delivered a solid performance in Q1 2025, driven by peak winter demand and high operational reliability, resulting in increased revenue, net income, and EPS.
Net Income reached $589 million, up from $532 million in Q1 2024.
Non-GAAP EPS increased to $1.43, reflecting strong operating performance.
PSE&G saw continued growth in new service inquiries totaling over 6,400 MW.
The Clean Energy Future - Energy Efficiency II program was rolled out to support customer savings and carbon reduction.
PSEG
PSEG
PSEG Revenue by Segment
PSEG Revenue by Geographic Location
Forward Guidance
PSEG reaffirmed its 2025 non-GAAP operating earnings guidance range of $3.94 to $4.06 per share and emphasized investment in infrastructure and clean energy programs.
Positive Outlook
- Maintained full-year earnings guidance.
- Continued investment in infrastructure modernization.
- Growth in large customer load inquiries.
- Successful rollout of Clean Energy Future programs.
- Strong nuclear reliability and performance.
Challenges Ahead
- Higher O&M and depreciation expenses due to capital investments.
- Weather-dependent revenue risks.
- Market volatility affecting nuclear contract pricing outlook.
- Potential delays in load conversions from inquiries to customers.
- Uncertainty around long-term contracting for nuclear output.
Revenue & Expenses
Visualization of income flow from segment revenue to net income