Public Service Enterprise Group (PEG) Q3 FY2026 earnings: revenue $3.0 billion, down 6.4% on the year

Public Service Enterprise Group Inc. (PEG) reported revenue of $3.0 billion for Q3 FY2026, the quarter ended 30 September 2026, down 6.4% on the same quarter a year earlier. Net income was $376 million, down 39.5% on the year, and diluted earnings per share $0.76. The figures are the company's own, from the 10-Q it filed with the SEC on 2 November 2026.

Revenue

$3.0 billion

-6.4% on the year · +18.2% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

20.6%

26.5% a year earlier

Q4 FY2024Q3 FY2026

Net income

$376 million

-39.5% on the year · +12.6% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.76

-38.7% on the year · +13.4% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 3 kept.

Third quarter operating earnings rose: Non-GAAP Operating Earnings were $574 million, or $1.15 per diluted share, against $565 million, or $1.13, a year earlier. Net income was $376 million, or $0.76 per share, against $622 million.
Nine-month operating earnings grew: Nine-month non-GAAP Operating Earnings were $1,777 million, or $3.56 per share, against $1,667 million, or $3.33. Nine-month net income was $1,451 million, or $2.91 per share, against $1,796 million.
PSE&G earnings eased slightly: PSE&G non-GAAP Operating Earnings were $506 million against $515 million a year earlier. Management attributed the decline to depreciation and interest on investments not yet in rates and to tax timing.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	3,020	2,554	3,226	+18.2%	-6.4%
Cost of revenue	1,125	866	1,133	+29.9%	-0.7%
Gross profit	1,895	1,688	2,093	+12.3%	-9.5%
Gross margin	62.7%	66.1%	64.9%
Operating income	622	461	855	+34.9%	-27.3%
Operating margin	20.6%	18.1%	26.5%
Interest expense	280	269	253	+4.1%	+10.7%
Pre-tax income	379	398	720	-4.8%	-47.4%
Income tax	3.0	64.0	98.0	-95.3%	-96.9%
Effective tax rate	0.8%	16.1%	13.6%
Net income	376	334	622	+12.6%	-39.5%
Net margin	12.5%	13.1%	19.3%
Diluted EPS	$0.76	$0.67	$1.24	+13.4%	-38.7%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	716	550	1,050	+30.2%	-31.8%
Capital expenditure	843	766	728	+10.1%	+15.8%
Free cash flow	-127	-216	322
Free cash flow margin	-4.2%	-8.5%	10.0%
Cash from investing	-831	-715	-672
Cash from financing	760	-47.0	-233
Dividends paid	334	334	314	0.0%	+6.4%
Dividend per share	$0.67	$0.67	$0.63	0.0%	+6.3%
Diluted shares, weighted	499m	499m	501m	0.0%	-0.4%
Shares outstanding at period end	499m	498m	499m	+0.0%	-0.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	17,362	17,329	17,009	+0.2%	+2.1%
Debt	21,839	24,541	23,370	-11.0%	-6.6%
Operating lease liabilities	131	137	138	-4.4%	-5.1%
Other liabilities	20,985	16,806	16,396	+24.9%	+28.0%
Total liabilities and equity	60,317	58,813	56,913	+2.6%	+6.0%
Investments	494	420	243	+17.6%	+103.3%
Cash and equivalents	837	192	334	+335.9%	+150.6%
Receivables	1,925	1,903	1,617	+1.2%	+19.0%
Other assets	57,061	56,298	54,719	+1.4%	+4.3%
Total assets	60,317	58,813	56,913	+2.6%	+6.0%

Questions

What was Public Service Enterprise Group's revenue in Q3 FY2026?

Public Service Enterprise Group (PEG) reported revenue of $3.0 billion for Q3 FY2026, the quarter ended 30 September 2026, down 6.4% on the same quarter a year earlier.

How much did Public Service Enterprise Group earn in Q3 FY2026?

Net income for Q3 FY2026 was $376 million, down 39.5% on the year, and diluted earnings per share $0.76.

When did Public Service Enterprise Group report Q3 FY2026 results?

Public Service Enterprise Group filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 2 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	3,056	2,313	2,076	2,272	3,139	3,755	2,421	2,456	2,605	2,760	2,423	2,642	2,465	3,222	2,805	3,226	2,915	3,848	2,554	3,020
Cost of revenue	1,004	1,245	765	1,012	996	1,082	604	831	743	997	732	899	765	1,186	826	1,133	1,014	1,507	866	1,125
Gross profit	2,052	1,068	1,311	1,260	2,143	2,673	1,817	1,625	1,862	1,763	1,691	1,743	1,700	2,036	1,979	2,093	1,901	2,341	1,688	1,895
Gross margin	67%	46%	63%	55%	68%	71%	75%	66%	71%	64%	70%	66%	69%	63%	71%	65%	65%	61%	66%	63%
Operating income	902	-52.0	296	173	964	1,648	794	551	692	685	582	641	445	797	817	855	511	1,075	461	622
Operating margin	30%	-2%	14%	8%	31%	44%	33%	22%	27%	25%	24%	24%	18%	25%	29%	27%	18%	28%	18%	21%
Interest expense	134	137	150	163	178	180	185	185	198	205	218	227	232	241	248	253	263	272	269	280
Pre-tax income	631	-154	98.0	55.0	1,003	1,585	744	65.0	687	629	437	559	200	617	726	720	311	848	398	379
Tax rate	29%	n/a	-34%	-107%	21%	19%	21%	-114%	21%	15%	1%	7%	-43%	5%	19%	14%	-1%	13%	16%	1%
Net income	445	-2.0	131	114	788	1,287	591	139	546	532	434	520	286	589	585	622	315	741	334	376
Net margin	15%	-0%	6%	5%	25%	34%	24%	6%	21%	19%	18%	20%	12%	18%	21%	19%	11%	19%	13%	12%
Diluted EPS	$0.88	$0.00	$0.26	$0.22	$1.58	$2.58	$1.18	$0.27	$1.10	$1.06	$0.87	$1.04	$0.57	$1.18	$1.17	$1.24	$0.63	$1.48	$0.67	$0.76
Operating cash flow	558	472	-116	345	802	1,837	572	687	710	661	482	623	367	1,049	478	1,050	721	1,271	550	716
Capital expenditure	673	686	605	797	800	739	705	916	965	797	837	768	978	628	787	728	1,129	693	766	843
Free cash flow	-115	-214	-721	-452	2.0	1,098	-133	-229	-255	-136	-355	-145	-611	421	-309	322	-408	578	-216	-127
Buybacks	0.0	500	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Dividends paid	258	271	270	269	269	284	285	284	284	299	299	299	299	314	315	314	315	334	334	334
Shares outstanding	504m	499m	499m	499m	497m	499m	499m	498m	498m	498m	498m	498m	498m	499m	499m	499m	498m	498m	498m	499m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 2 November 2026: the filing.