Public Service Enterprise Group, Inc. (PEG) or PSEG's focus on renewable generation expansion is likely to bolster its footprint in the clean energy market. To enhance customer reliability, the company makes consistent investments in its infrastructure, strengthening its transmission and distribution system's resilience. However, this Zacks Rank #3 (Hold) company faces risks like an unfavorable financial position and expenditure to remediate every manufactured gas plant (MGP) site, which acts as a headwind. ...

In the equity market, investments need to be prudently hedged to overcome uncertainties and limit losses related to external shocks. A question that often arises is whether one should resort to a value strategy that seeks discounted stocks or opt for growth investing in times of extreme market instability. The investing track of the Oracle of Omaha over the past few decades and his gradual shift from being a pureplay value investor to a GARP (growth at a reasonable price) investor might give us all the answ ...

Revenues Unrelated to Contracts with Customers Revenues from Contracts with Customers NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) PSEG Power has entered into long-term contracts with LIPA for energy management and fuel procurement services. Revenue is recognized over time as services are rendered. Revenues Unrelated to Contracts with Customers PSEG Power's revenues unrelated to contracts with customers include electric, gas and certain energy-related transactions accounted for in accord ...

PSEG Leadership Policies & Goals Recognition & Memberships Glossary of Terms Public Service Enterprise Group Incorporated - Consolidated Operating Earnings (non-GAAP) Reconciliation Lease Related Activity, pre-tax - - (0.01) - Reconciliation of Non-GAAP Operating Earnings A 18 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------|-------|---------------------------|----------|------------------------------------|------- ...

Financial Data and Key Metrics Changes - PSEG reported net income of $0.87 per share for Q2 2024, down from $1.18 per share in Q2 2023, and $1.93 per share for the first half of 2024 compared to $3.76 per share in the same period of 2023 [6][12] - Non-GAAP operating earnings were $0.63 per share for Q2 2024, compared to $0.70 per share in Q2 2023, and $1.94 per share for the first half of 2024, down from $2.09 per share in the same period of 2023 [13][30] Business Line Data and Key Metrics Changes - PSE&G reported net income of $0.60 per share for Q2 2024, down from $0.67 per share in Q2 2023, with non-GAAP operating earnings also decreasing from $0.68 to $0.60 per share [32] - PSEG Power & Other reported net income of $0.27 per share for Q2 2024, down from $0.51 per share in Q2 2023, while non-GAAP operating earnings increased from $0.02 to $0.03 per share [38][39] Market Data and Key Metrics Changes - The electric margin increased by $0.02 per share due to customer growth in the Conservation Incentive Program, while transmission margin declined by $0.02 per share due to timing of revenue and O&M [33] - The number of electric and gas customers grew by approximately 1% over the past year, contributing to margin growth under the CIP mechanism [36] Company Strategy and Development Direction - PSEG is focused on executing a five-year capital investment plan of $19 billion to $22.5 billion through 2028, with $18 billion to $21 billion allocated for regulated investments [19][27] - The company is pursuing incremental investment opportunities, particularly in data centers and electric vehicle charging infrastructure, which are expected to drive load growth [21][78] Management's Comments on Operating Environment and Future Outlook - Management noted that the first half of 2024 results are on track with full-year expectations, anticipating resolution of the distribution rate case and increased gross margin in the fourth quarter [8][44] - The company reaffirmed its long-term non-GAAP operating earnings growth guidance of 5% to 7% through 2028, supported by capital investment programs and nuclear production tax credits [26][44] Other Important Information - PSEG's electric transmission and distribution system performed well during severe weather, restoring power to customers affected by storms in under 24 hours [9] - The New Jersey Board of Public Utilities approved a $300 million extension of the clean energy future program, reflecting ongoing regulatory support for energy efficiency initiatives [10] Q&A Session Summary Question: Can you elaborate on data center opportunities and their economic benefits? - Management highlighted the potential for hyperscale data centers to attract AI companies and create local job opportunities, with several hundred megawatts of data centers in the pipeline [47][51] Question: How does the recent FERC protest affect your plans? - Management stated that ongoing projects would not be affected and emphasized support for the governor's economic development initiatives [60] Question: Are you discussing an ISA for artificial island? - Management clarified that discussions on interconnection agreements would only occur once a project moves forward [65] Question: What is the stance on offshore wind projects? - Management confirmed that offshore wind remains a priority and there are no indications of delays in New Jersey [67] Question: What is the outlook for EV infrastructure investment? - Management indicated steady growth in EV interconnections and ongoing upgrades to support infrastructure [82] Question: What is the status of the energy efficiency program? - Management noted that discussions are ongoing and a settlement is expected by the end of the year [100]

Under electric sales, residential sales volumes totaled 3,369 million kilowatt-hours, up 20% from the prior-year quarter's figure. Its commercial and industrial sales volumes accounted for 6,377 million kilowatt-hours, registering a year-over-year improvement of 8%. Highlights of the Release The operating income totaled $582 million in the second quarter compared with $794 million in the year-ago period. This indicated a year-over-year decline of 26.7%. Interest expenses amounted to $218 million in the seco ...

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PSEG (PEG) came out with quarterly earnings of $0.63 per share, missing the Zacks Consensus Estimate of $0.64 per share. This compares to earnings of $0.70 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -1.56%. A quarter ago, it was expected that this parent company of PSEG Power and Public Service Electric & Gas Co. Would post earnings of $1.32 per share when it actually produced earnings of $1.31, delivering a surprise of - ...

Exhibit 99 $0.63 PER SHARE NON-GAAP OPERATING EARNINGS "PSEG's financial results for the second quarter and first half are in line with our expectations for the full year, enabling us to reaffirm our full-year 2024 non-GAAP Operating Earnings guidance range of $3.60 to $3.70 per share," said Ralph LaRossa, PSEG's chair, president and CEO. "PSEG responded well to the extreme conditions we experienced during the quarter, which included an early summer heat wave and one of the strongest earthquakes in New Jers ...

$0.87 PER SHARE NET INCOME Reaffirms Full-Year 2024 Non-GAAP Operating Earnings Guidance PSEG Consolidated (unaudited) Second Quarter Comparative Results See Attachments 8 and 9 for a complete list of items excluded from Net Income in the determination of non-GAAP Operating Earnings. PSEG Results by Segment | --- | --- | --- | |----------------------------------------|---------|---------| | | | | | ($ millions, except per share amounts) | 2Q 2024 | 2Q 2023 | | Net Income | $302 | $336 | | Net Income Per Sha ...