Public Service Enterprise Group (PEG), the predominantly regulated New Jersey utility and nuclear generator, reported non-GAAP operating earnings of $574 million, or $1.15 a share, for the third quarter ended September 30, 2026, up from $565 million, or $1.13 a share, a year earlier.

GAAP net income was $376 million, or $0.76 a share, compared with $622 million, or $1.24 a share, a year earlier. Reconciling items added $198 million, or $0.39 a share, versus a $57 million, or $0.11 a share, deduction in the year-ago quarter.

Chair, president and CEO Ralph LaRossa said third-quarter and year-to-date results aligned with the company’s full-year expectations. PSEG maintained 2026 non-GAAP operating earnings guidance of $4.28 to $4.40 a share, the same range it had kept after the first and second quarters.

PSEG Power & Other non-GAAP operating earnings were $68 million, up from $50 million a year earlier. PSE&G non-GAAP operating earnings were $506 million, down from $515 million.

The company said PSE&G’s quarter was driven by ongoing investments in energy efficiency and transmission and a gradual increase in electric and gas customers, more than offset by higher depreciation and interest costs on incremental investments not yet in rates and the timing of taxes.

PSEG Power & Other swung to a GAAP net loss of $130 million from net income of $107 million a year earlier. The company said the segment’s results reflected lower operating and maintenance costs from the absence of the Hope Creek refueling outage in last year’s third quarter, higher realized prices and an increase in nuclear generation, partly offset by higher taxes. The GAAP net loss also reflected Mark-to-Market accounting and Nuclear Decommissioning Trust losses that are excluded from non-GAAP operating earnings.

Consolidated operating revenues were $3.02 billion. PSE&G revenues were $2.53 billion. PSEG Power & Other revenues were $532 million.

PSEG Nuclear supplied 8.2 TWh of carbon-free baseload energy in the quarter at a 95.5% capacity factor. New Jersey output was 5,407 GWh and Pennsylvania output 2,765 GWh. Salem unit 1 entered its fall refueling after a 491-day breaker-to-breaker run.

Total electric sales were 11,898 million kWh, up 1% from a year earlier. Residential sales were 4,623 million kWh. Commercial and industrial sales were 7,203 million kWh. Gas sales were 427 million therms, up 6%, with firm sales of 194 million therms and non-firm commercial and industrial sales of 233 million therms.

LaRossa said the company faced severe weather throughout the third quarter, including a July storm and a September nor’easter, and that PSE&G crews restored service to nearly all affected New Jersey customers within 24 hours.

The company reiterated a long-term strategy to grow non-GAAP operating earnings at a 6% to 8% compound annual rate through 2030 and a five-year capital investment plan of $24 billion to $28 billion, which it said it can fund without issuing new equity or selling assets.