Public Service Enterprise Group (NYSE: PEG), a diversified energy company, announced financial results for the third quarter of fiscal 2025.
- Third-quarter net income increased to $622 million or $1.24 per share from $520 million or $1.04 per share in the prior-year period
- Total operating revenues were $3.23 billion in Q3, compared to $2.64 billion in the same period of 2024
- On an adjusted basis, operating income rose to $565 million in the September quarter from $448 million a year earlier
- The results reflect the expected incremental impact of new rates from the October 2024 base rate case settlement for the full quarter and higher power pricing for the year-to-date period
- Under the company’s planned $3.8 billion capital spending program, regulated investment was around $1 billion in the quarter and $2.7 billion over the first nine months of 2025
- The management narrowed its adjusted operating earnings guidance for FY25 to the upper half of the range — to $4.00 to $4.06 per share from $3.94 to $4.06 per share earlier