Short answer
Public Service Enterprise Group (PEG) filed its Q3 2025 10-Q quarterly report on Nov 3, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $3.2B (up 22.1% year over year) with net income of $622M.
Q3 2025 key financials · XBRL
- Revenue
- $3.2B
- +22.1% YoY · +15.0% QoQ
- Net income
- $622M
- +19.6% YoY · +6.3% QoQ
- Operating margin
- 26.5%
- EPS (diluted)
- $1.24
- +19.2% YoY · +6.0% QoQ
Source: XBRL data from the Public Service Enterprise Group (PEG) Q3 2025 10-Q on SEC EDGAR. USD.
Public Service Enterprise Group Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue PSE&G $515M Q3 2025 vs $379M Q3 2024, up $136M YoY; Nine months $1.393B vs $1.169B, up $224M
- Net income $622M Q3 2025 vs $520M Q3 2024; diluted EPS $1.24 vs $1.04; Nine months net income $1.796B vs $1.486B, EPS $3.59 vs $2.97
- Operating segments: Best performer PSE&G with revenue +36% Q3 YoY; weakest PSEG Power & Other down $34M Q3 YoY at $107M
- Regulated rate base growth $30B (2023) to $34B (2024); capital investment $22.5B–$26B planned 2025-2029 focusing on regulated infrastructure
- Management highlights rising allowed ROE 9.6% for distribution, extended contracts, and forecast 6%-7.5% CAGR in regulated rate base; notes regulatory and litigation uncertainties
Risk Factors
- New regulatory risk: FERC proceedings on transmission charges for data centers, with rulemaking due April 30, 2026, following US Energy Secretary's request
- Materially updated regulatory risk: FERC examining large customer location impacts on reliability and costs, affecting wholesale sales and market power
- Legal/compliance risk: Uncertainty in FERC's interconnection rules for large load customers could affect compliance and operational planning
- Operational risk: Potential transmission system upgrade minimization via co-location arrangements impacting near-term infrastructure decisions
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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