PSEG Q2 2026 earnings: Adjusted profit rises as GAAP income falls

PSEG's Q2 2026 revenue fell about 9% year over year to $2.554 billion, while GAAP diluted EPS declined to $0.67 from $1.17. Non-GAAP operating EPS moved the other direction, rising to $0.86 from $0.77 as PSE&G earnings increased and PSEG Power & Other benefited from higher realized prices and nuclear generation. The company maintained its 2026 non-GAAP operating EPS guidance of $4.28 to $4.40. Investors should monitor market-to-market volatility, rising utility costs, the loss of zero-emission certificate support, and execution of the five-year capital plan.