PEG

EX-99

2 d101695dex99.htm

EX-99

EX-99

Exhibit 99

Public Service Enterprise Group

80 Park Plaza

Newark, NJ 07102

PSEG ANNOUNCES SECOND QUARTER 2026 RESULTS

$0.67 PER SHARE NET INCOME

$0.86 PER SHARE NON-GAAP OPERATING EARNINGS

Maintains 2026 Non-GAAP Operating Earnings Guidance of $4.28 - $4.40 Per Share

(NEWARK, N.J. – August 4, 2026) Public Service Enterprise Group (NYSE: PEG) reported the following results for the second quarter and six months ended June 30, 2026:

PSEG Consolidated (unaudited)

Second Quarter Comparative Results

Income

Earnings Per Share

($ millions, except per share amounts)

2026

2025

2026

2025

Net Income

$ 334

$ 585

$ 0.67

$ 1.17

Reconciling Items

91

(201 )

0.19

(0.40 )

Non-GAAP Operating Earnings

$ 425

$ 384

$ 0.86

$ 0.77

Average Shares Outstanding (Diluted)

499

500

See Attachments 8 and 9 for a complete list of items excluded from Net Income/(Loss) in the determination of non-GAAP Operating Earnings.

PSEG Consolidated (unaudited)

Six Months Ended June 30 Comparative Results

Income

Earnings Per Share

($ millions, except per share amounts)

2026

2025

2026

2025

Net Income

$ 1,075

$ 1,174

$ 2.15

$ 2.35

Reconciling Items

128

(72 )

0.26

(0.15 )

Non-GAAP Operating Earnings

$ 1,203

$ 1,102

$ 2.41

$ 2.20

Average Shares Outstanding (Diluted)

499

500

See Attachments 8 and 9 for a complete list of items excluded from Net Income/(Loss) in the determination of non-GAAP Operating Earnings.

“The efficient execution of PSEG’s strategic plan continues to benefit our customers with a resilient and reliable electric and gas system. In early July, these systems withstood a series of heatwaves and successive thunderstorms – accompanied by 70 mile per hour winds – that resulted in one of the most damaging storms in our history,” said Ralph LaRossa, PSEG’s chair, president and CEO.

1

LaRossa continued, “PSE&G reconnected approximately 380,000 customers with nearly all customers restored within 24 hours of losing power, demonstrating the value of our system-reliability investments as well as our ability to respond quickly and safely. PSE&G’s around-the-clock restoration efforts were led by over 330 crews and over 10 million proactive customer communications.”

“PSE&G reached a peak summer load of 10,446 MW on July 2, the highest in 14 years, and activated Demand Response – part of our Clean Energy Future programs – during three separate events throughout the early July heatwave. These peak demands amplify the importance of our suite of award-winning Clean Energy Future programs, which now generate more than $1 billion in annual customer savings, helping nearly 525,000 residential and business customers save energy and lower utility bills since the program started in 2020. PSE&G’s energy efficiency investments have supported approximately 9,300 jobs statewide, including a network of more than 1,000 trade and union allies.”

“During the quarter, PSE&G filed with the New Jersey Board of Public Utilities to lower residential gas bills by 5%, beginning October 1, continuing to benefit our customers with the lowest gas utility bills in New Jersey and the Mid-Atlantic Region.”

“PSEG Nuclear also performed well during the quarter, supplying the grid with 7.8 TWh of carbon-free, 24 by 7 baseload generation and achieving a capacity factor of 92.0% that included a second consecutive breaker to breaker run at Salem Unit 2.”

“In addition to an exemplary storm response, our teams delivered solid financial and operational results for the second quarter and first half of 2026, enabling us to maintain PSEG’s full-year 2026 non-GAAP Operating Earnings guidance of $4.28 to $4.40 per share. We are also reaffirming PSEG’s five-year, non-GAAP Operating Earnings growth outlook of 6% to 8% through 2030 as we continue to pursue opportunities incremental to our long-term forecast, including the potential to contract our nuclear output under multi-year agreements. Importantly, our solid balance sheet enables the funding of PSEG’s total five-year capital investment program of $24 billion to $28 billion without the need to issue new equity or sell assets and provides the opportunity for consistent and sustainable dividend growth,” LaRossa concluded.

2

PSEG Results by Segment (unaudited)

Second Quarter and Six Months Ended June 30, Comparative Results

($ millions)

2Q 2026

2Q 2025

YTD 2026

YTD 2025

PSE&G Net Income/Non-GAAP Operating Earnings

$ 342

$ 332

$ 919

$ 878

PSEG Power & Other Net Income/(Loss)

(8 )

253

156

296

Total PSEG Net Income

$ 334

$ 585

$ 1,075

$ 1,174

PSEG Power & Other Non-GAAP Operating Earnings

$ 83

$ 52

$ 284

$ 224

Total PSEG Non-GAAP Operating Earnings

$ 425

$ 384

$ 1,203

$ 1,102

PSE&G’s results for the second quarter reflect ongoing investments in Energy Efficiency, Gas System Modernization and Transmission. These results were partially offset by higher operation and maintenance costs as well as higher depreciation a

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.e618d017.1784333177.425376de

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.

8-K

falsefalse00007887840000081033 0000788784 2026-02-26 2026-02-26 0000788784 pseg:PublicServiceElectricAndGasCompanyMember 2026-02-26 2026-02-26 0000788784 us-gaap:CommonStockMember 2026-02-26 2026-02-26 0000788784 pseg:PublicServiceElectricAndGasCompanyMember pseg:FirstAndRefundingMortgageBondsEightPercentDueTwoThousandThirtySevenMember 2026-02-26 2026-02-26 0000788784 pseg:PublicServiceElectricAndGasCompanyMember pseg:FirstAndRefundingMortgageBondsFivePercentDueTwoThousandThirtySevenMember 2026-02-26 2026-02-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) February 26, 2026

Public Service Enterprise Group Incorporated (Exact name of registrant as specified in its charter)

New Jersey

001-09120

22-2625848

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification Number)

80 Park Plaza Newark, New Jersey 07102 (Address of principal executive offices) (Zip Code) 973 430-7000

(Registrant’s telephone number, including area code)

Public Service Electric and Gas Company (Exact name of registrant as specified in its charter)

New Jersey

001-00973

22-1212800

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification Number)

80 Park Plaza Newark, New Jersey 07102 (Address of principal executive offices) (Zip Code) 973 430-7000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol(s)

Name of Each Exchange On Which Registered

Public Service Enterprise Group Incorporated

Common Stock without par value

PEG

New York Stock Exchange

Public Service Electric and Gas Company

8.00% First and Refunding Mortgage Bonds, due 2037

PEG37D

New York Stock Exchange

5.00% First and Refunding Mortgage Bonds, due 2037

PEG37J

New York Stock Exchange Indicate by check mark whether any of the registrants is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if such registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.                   ☐

The information contained in Item 2.02. Results of Operations and Financial Condition in this Form 8-K is furnished solely for Public Service Enterprise Group Incorporated (PSEG). The information contained in Item 7.01 Regulation FD Disclosure in this combined Form 8-K is separately furnished, as noted, by PSEG and Public Service Electric and Gas Company (PSE&G). Information contained herein relating to any individual company is provided by such company on its own behalf and in connection with its respective Form 8-K. PSE&G makes representations only as to itself and makes no other representations whatsoever as to any other company. The materials furnished as Exhibits 99 and 99.1 are available on the corporate.pseg.com website under the investor tab, or at https://investor.pseg.com.

Item 2.02

Results of Operations and Financial Condition

PSEG

On February 26, 2026, PSEG announced financial results for the three and twelve months ended December 31, 2025. A copy of the earnings release dated February 26, 2026 is furnished as Exhibit 99 to this Form 8-K.

Item 7.01

Regulation FD Disclosure

PSEG and PSE&G On February 26, 2026, PSEG conducted an earnings call regarding its results for the three and twelve months ended December 31, 2025. A copy of the slideshow presentation used during the earnings call is furnished as Exhibit 99.1 to this Form 8-K.

Item 9.01

Financial Statements and Exhibits

Exhibit 99

Press Release dated February 26, 2026

Exhibit 99.1

Slideshow Presentation

Exhibit 104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly aut