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Public Service Enterprise Group Inc
XMUN:PSE
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US |
PSEG's multi-year record shows a predominantly regulated earnings base with substantial operating cash generation, while capital spending usually absorbs most of that cash. Consolidated results remain more variable because the nuclear and other businesses add market-sensitive earnings around the steadier utility platform.
The June 30, 2026 results represent development rather than a change in model: the regulated utility contribution held up, but Power & Other weakened materially and pushed consolidated GAAP earnings lower. The core regulated profile remains intact, while quarterly reported earnings and free cash flow still move with segment volatility and investment timing.
Whether quarterly operating cash flow continues to cover capital spending as the regulated investment program progresses.
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| 9B | 9.1B | 9.7B | 10.1B | 9.6B | 9.7B | 9.8B | 11.2B | 10.3B | 12.2B | |
| (7.4B) | (7.7B) | (7.4B) | (7.7B) | (7.5B) | (7.9B) | (8.3B) | (7.5B) | (7.9B) | (9.2B) | |
| — | — | — | — | (35m) | (28m) | (29m) | (18m) | (40m) | (43m) | |
| (1.5B) | (2B) | (1.2B) | (1.2B) | (1.3B) | (1.2B) | (1.1B) | (1.1B) | (1.2B) | (1.3B) | |
| (3B) | (2.9B) | (3B) | (3.1B) | (3.1B) | (3.2B) | (3.1B) | (3.1B) | (3.3B) | (3.7B) | |
| (2.9B) | (2.8B) | (3.2B) | (3.4B) | (3.1B) | (3.5B) | (4B) | (3.3B) | (3.4B) | (4.2B) | |
| 1.6B | 1.4B | 2.3B | 2.3B | 2.1B | 1.8B | 1.5B | 3.7B | 2.4B | 3B | |
| (315m) | (177m) | (534m) | (222m) | (266m) | (289m) | (807m) | (483m) | (641m) | (694m) | |
| 385m | 391m | 476m | 569m | 600m | 571m | 628m | 748m | 882m | 1B | |
| — | — | — | (402m) | 123m | (2.9B) | (123m) | (7m) | (6m) | — | |
| 15m | 16m | 91m | 229m | 297m | 354m | 428m | (121m) | 113m | 88m | |
| 1.3B | 1.3B | 1.9B | 2B | 2.3B | (1.1B) | 1B | 3.1B | 1.8B | 2.4B | |
| (411m) | (439m) | (417m) | (257m) | (396m) | 441m | 29m | (518m) | (53m) | (263m) | |
| 887m | 829m | 1.4B | 1.7B | 1.9B | (648m) | 1B | 2.6B | 1.8B | 2.1B | |
| 887m | 1.6B | 1.4B | 1.7B | 1.9B | (648m) | 1B | 2.6B | 1.8B | 2.1B | |
| 1.75 | 3.10 | 2.84 | 3.34 | 3.76 | (1.29) | 2.06 | 5.13 | 3.54 | 4.21 |
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