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Mar 31
PSEG Q1 2025 Earnings Report
PSEG reported strong Q1 2025 results, with robust earnings supported by cold weather-driven demand and efficient operations.
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
Revenue by Segment
PSE&G Revenue
CapyFin.comPower & Other Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com 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