Public Service Enterprise Group Incorporated (PEG) or PSEG reported fourth-quarter 2023 adjusted earnings of 54 cents per share, which beat the Zacks Consensus Estimate of 53 cents by 1.9%. However, earnings declined 15.6% from the prior-year reported figure.The company reported quarterly GAAP earnings per share (EPS) of $1.10 in the fourth quarter of 2023 compared with $1.58 in the corresponding period of 2022.For 2023, the company reported adjusted EPS of $3.48 compared with $3.47 in 2022. The full-year b ...

Financial Data and Key Metrics Changes - For Q4 2023, the company reported net income of $1.10 per share, down from $1.58 per share in Q4 2022. Non-GAAP operating earnings were $0.54 per share compared to $0.64 per share in the same period last year [8][28]. - For the full year 2023, net income was $5.13 per share, significantly up from $2.06 per share in 2022. Non-GAAP operating earnings were $3.48 per share, slightly higher than $3.47 per share in 2022 [9][28]. Business Line Data and Key Metrics Changes - PSE&G reported Q4 2023 net income of $0.58 per share, down from $0.70 per share in Q4 2022. Non-GAAP operating earnings were $0.59 per share compared to $0.70 per share in the previous year [29]. - The main drivers for the decline included lower pension income and higher depreciation and interest expenses due to increased investments not yet reflected in rates [30]. Market Data and Key Metrics Changes - The company experienced a 15% warmer than normal weather during Q4 2023, impacting energy sales. However, the number of electric and gas customers grew by about 1% in 2023 [32][33]. - The nuclear fleet operated at a 93% capacity factor for the full year 2023, producing approximately 32 terawatt hours of carbon-free energy [24][38]. Company Strategy and Development Direction - The company reaffirmed its full year 2024 non-GAAP operating earnings guidance of $3.60 to $3.70 per share and a 5% to 7% earnings CAGR through 2028 [11][42]. - PSEG is focused on capital investments aligned with New Jersey's energy policy goals, including a $3.1 billion Energy Efficiency investment program and a $3.4 billion regulated capital investment plan for 2024 [12][33]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to execute its business plan, highlighting a strong focus on cost containment and reliability [19][27]. - The company noted that New Jersey's regulatory environment is favorable, with recent rate case outcomes being positive for utilities [48]. Other Important Information - PSEG completed its largest single-year capital investment of $3.7 billion in 2023, with significant investments in energy infrastructure and clean energy initiatives [22][33]. - The company has been recognized for its sustainability efforts, being named to the Dow Jones Sustainability North America Index for the 16th consecutive year [25]. Q&A Session Summary Question: Any updates on potential economic development opportunities? - Management indicated potential upside from economic development initiatives in the state, particularly related to wind ports and data centers [46][47]. Question: Thoughts on recent rate proceedings in New Jersey? - Management noted that New Jersey's regulatory process has been consistent and favorable, expecting a non-contentious rate case [48]. Question: Clarification on the $3.1 billion energy efficiency filing? - The filing covers commitments over a triennial period but actual spending will occur over a longer timeframe [74]. Question: Status of nuclear production tax credit guidance? - Management is awaiting guidance from the Treasury regarding the nuclear PTC, with no specific timeline available [77]. Question: Discussion on managing O&M for 2024? - Management indicated no significant surprises in O&M costs for 2024, with labor agreements in place providing cost certainty [85].

Public Service Enterprise Group FOURTH QUARTER AND FULL YEAR 2023 NYSE: PEG Financial Results Presentation February 26, 2024 PSEG Fourth Quarter and Full Year 2023 Forward-Looking Statements Certain of the matters discussed in this presentation about our and our subsidiaries' future performance, including, without limitation, future revenues, earnings, strategies, prospects, consequences, and all other statements that are not purely historical constitute "forward-looking statements" within the meaning of th ...

For the quarter ended December 2023, PSEG (PEG) reported revenue of $2.61 billion, down 17% over the same period last year. EPS came in at $0.54, compared to $0.64 in the year-ago quarter.The reported revenue represents a surprise of +29.93% over the Zacks Consensus Estimate of $2 billion. With the consensus EPS estimate being $0.53, the EPS surprise was +1.89%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations ...

PSEG (PEG) came out with quarterly earnings of $0.54 per share, beating the Zacks Consensus Estimate of $0.53 per share. This compares to earnings of $0.64 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.89%. A quarter ago, it was expected that this parent company of PSEG Power and Public Service Electric & Gas Co. Would post earnings of $0.75 per share when it actually produced earnings of $0.85, delivering a surprise of 13 ...

—————————— FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO | | | State or other | I.R.S. Employer | | --- | --- | --- | --- | | Commission | | jurisdiction of | Identification | | File Number | Name of Registrant, Address, and Telephone Number | Incorporation | Number | | 001-09120 | Public ...

[Executive Summary & 2023 Performance Highlights](index=1&type=section&id=Executive%20Summary%20%26%202023%20Performance%20Highlights) [Consolidated Financial Performance (Full Year & Q4)](index=1&type=section&id=1.1%20Consolidated%20Financial%20Performance%20(Full%20Year%20%26%20Q4)) PSEG achieved strong 2023 financial results, with full-year non-GAAP Operating Earnings at the high end of guidance, despite a Q4 decline in Net Income and non-GAAP Operating Earnings PSEG Consolidated Full Year Comparative Results ($ millions, except per share amounts) | ($ millions, except per share amounts) | FY 2023 | FY 2022 | Diluted Earnings Per Share FY 2023 | Diluted Earnings Per Share FY 2022 | | :--- | :--- | :--- | :--- | :--- | | Net Income | $2,563 | $1,031 | $ 5.13 | $ 2.06 | | Non-GAAP Operating Earnings | $1,742 | $1,739 | $ 3.48 | $ 3.47 | PSEG Consolidated Fourth Quarter Comparative Results ($ millions, except per share amounts) | ($ millions, except per share amounts) | 4Q 2023 | 4Q 2022 | Diluted Earnings Per Share 4Q 2023 | Diluted Earnings Per Share 4Q 2022 | | :--- | :--- | :--- | :--- | :--- | | Net Income | $ 546 | $ 788 | $ 1.10 | $ 1.58 | | Non-GAAP Operating Earnings | $ 271 | $ 318 | $ 0.54 | $ 0.64 | [CEO Commentary & Strategic Achievements](index=1&type=section&id=1.2%20CEO%20Commentary%20%26%20Strategic%20Achievements) PSEG's CEO emphasized solid 2023 performance, marking 19 consecutive years of meeting guidance, driven by significant capital investments and clean energy initiatives - PSEG achieved solid operating and financial performance in 2023, with non-GAAP results at the high-end of guidance, marking the **19th consecutive year** of meeting or exceeding guidance[5](index=5&type=chunk) - PSE&G completed its largest ever capital investment plan in a single year, totaling **$3.7 billion**, focused on modernizing system infrastructure and expanding energy efficiency offerings[5](index=5&type=chunk) - Significant progress in 2023 included retaining the **3,760 MW** nuclear fleet (benefiting from nuclear production tax credit), exiting offshore wind generation, and reaching settlements for Gas System Modernization (**$900 million**) and Clean Energy Future-Energy Efficiency (**$280 million**)[7](index=7&type=chunk) - PSE&G filed its first electric and gas base rate case in six years in December 2023, seeking to recover over **$3 billion** in capital investments made since 2018[8](index=8&type=chunk) - PSE&G also submitted a **$3.1 billion** Clean Energy Future–Energy Efficiency II (CEF-EE II) proposal, aligned with New Jersey's updated energy efficiency framework for 2025-2027[9](index=9&type=chunk) [2024 Outlook & Dividend Guidance](index=2&type=section&id=1.3%202024%20Outlook%20%26%20Dividend%20Guidance) PSEG reaffirmed 2024 non-GAAP Operating Earnings guidance, increased its annual common dividend, and updated its five-year capital spending plan - PSEG updated its five-year regulated capital spending plan to **$18 billion to $21 billion**, supporting a compound annual growth in rate base of **6% to 7.5%** and non-GAAP Operating Earnings of **5% to 7%** over the 2024 to 2028 period[6](index=6&type=chunk) - PSEG reaffirmed its 2024 non-GAAP Operating Earnings guidance range of **$3.60 to $3.70 per share**[10](index=10&type=chunk) - The company increased its 2024 indicative annual common dividend rate by **$0.12 to $2.40 per share**, extending its track record of providing dividend income for **117 consecutive years**[10](index=10&type=chunk) [Business Segment Results](index=3&type=section&id=Business%20Segment%20Results) [Public Service Electric and Gas (PSE&G)](index=3&type=section&id=2.1%20Public%20Service%20Electric%20and%20Gas%20(PSE%26G)) PSE&G's full-year and Q4 2023 non-GAAP Operating Earnings declined, influenced by investment growth offset by lower pension income and higher expenses PSE&G Fourth Quarter and Full Year Comparative Results ($ millions, except per share amounts) | ($ millions, except per share amounts) | 4Q 2023 | 4Q 2022 | FY 2023 | FY 2022 | | :--- | :--- | :--- | :--- | :--- | | Net Income | $ 291 | $ 352 | $1,515 | $1,565 | | Non-GAAP Operating Earnings | $ 296 | $ 352 | $1,532 | $1,565 | | Non-GAAP Operating EPS | $ 0.59 | $ 0.70 | $ 3.06 | $ 3.12 | - PSE&G's Q4 results benefited from growth in incremental investments in Transmission and Gas Distribution, which were offset by expected declines in pension income and OPEB related credits, as well as higher depreciation, amortization, interest expense, and O&M costs[11](index=11&type=chunk) [PSEG Power & Other](index=3&type=section&id=2.2%20PSEG%20Power%20%26%20Other) PSEG Power & Other saw significant full-year Net Income and non-GAAP Operating Earnings growth, but Q4 declined due to reduced capacity revenues and lower pension/OPEB credits PSEG Power & Other Fourth Quarter and Full Year Comparative Results ($ millions, except per share amounts) | ($ millions, except per share amounts) | 4Q 2023 | 4Q 2022 | FY 2023 | FY 2022 | | :--- | :--- | :--- | :--- | :--- | | Net Income (Loss) | $ 255 | $ 436 | $1,048 | $ (534) | | Non-GAAP Operating Earnings | $ (25) | $ (34) | $ 210 | $ 174 | | Non-GAAP Operating EPS | $ (0.05) | $ (0.06) | $ 0.42 | $ 0.35 | - PSEG Power & Other's Q4 results reflected an improvement in energy margin, which was offset by a reduction in capacity revenues, and expected lower pension income and OPEB credits compared with the fourth quarter of 2022[14](index=14&type=chunk) [Company Information & Financial Reporting Standards](index=4&type=section&id=Company%20Information%20%26%20Financial%20Reporting%20Standards) [About PSEG](index=4&type=section&id=3.1%20About%20PSEG) PSEG is a regulated infrastructure company committed to a clean energy future, aiming for net-zero emissions by 2030, and recognized for sustainability - PSEG is a predominantly regulated infrastructure company focused on a clean energy future, with a **net-zero 2030 climate vision** and participation in the U.N. Race to Zero[15](index=15&type=chunk) - PSEG's businesses include Public Service Electric and Gas Co. (PSE&G), PSEG Power, and PSEG Long Island[15](index=15&type=chunk) - PSEG has been named to the Dow Jones Sustainability North America Index for the **16th consecutive year** and recognized as **1 in Customer Satisfaction** with Residential and Business Electric Service in the East among Large Utilities by J.D. Power in 2023[7](index=7&type=chunk)[15](index=15&type=chunk) [Non-GAAP Financial Measures](index=4&type=section&id=3.2%20Non-GAAP%20Financial%20Measures) PSEG utilizes non-GAAP Operating Earnings as a key metric, excluding NDT, MTM, and other infrequent items, for consistent financial performance comparison - Non-GAAP Operating Earnings are used by management for internal analysis and communications with investors and analysts to consistently compare financial performance[16](index=16&type=chunk) - Non-GAAP Operating Earnings exclude the impact of gains (losses) associated with the Nuclear Decommissioning Trust (NDT), Mark-to-Market (MTM) accounting, and other material infrequent items[16](index=16&type=chunk) - Due to the forward-looking nature and market volatility, PSEG is unable to reconcile its non-GAAP Operating Earnings guidance to the most directly comparable GAAP financial measure[18](index=18&type=chunk) [Important Disclosures](index=5&type=section&id=Important%20Disclosures) [Forward-Looking Statements](index=5&type=section&id=4.1%20Forward-Looking%20Statements) This report includes forward-looking statements on future performance and strategies, subject to risks and uncertainties, which PSEG disclaims any obligation to update - The report includes forward-looking statements about future performance, revenues, earnings, and strategies, which are subject to risks and uncertainties that could cause actual results to differ materially[20](index=20&type=chunk) - Key risk factors include inability to obtain regulatory approval for projects, climate change risks, equipment failures, supply chain disruptions, cybersecurity attacks, changes in regulations, and adverse performance of trust funds[21](index=21&type=chunk) - Readers are cautioned not to place undue reliance on these statements, and PSEG specifically disclaims any obligation to update them, even in light of new information or future events, unless required by applicable securities laws[22](index=22&type=chunk) [Investor Information](index=6&type=section&id=4.2%20Investor%20Information) PSEG disseminates important investor information, including new postings and email alerts, through its corporate Investor Relations website - PSEG and PSE&G release important information via postings on their corporate Investor Relations website at https://investor.pseg.com, and investors can sign up for automatic email alerts[24](index=24&type=chunk) [Attachments: Detailed Financials & Operational Data](index=7&type=section&id=Attachments%3A%20Detailed%20Financials%20%26%20Operational%20Data) [Consolidating Statements of Operations (Three Months Ended December 31)](index=7&type=section&id=5.1%20Consolidating%20Statements%20of%20Operations%20(Q4)) This section details PSEG's consolidated and segment-level statements of operations for Q4 2023 vs. 2022, including revenues, expenses, and earnings PSEG Consolidating Statements of Operations (Three Months Ended December 31, 2023 vs. 2022) ($ millions) | | PSEG 4Q 2023 | PSE&G 4Q 2023 | PSEG Power & Other 4Q 2023 | PSEG 4Q 2022 | PSE&G 4Q 2022 | PSEG Power & Other 4Q 2022 | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | OPERATING REVENUES | $2,605 | $1,853 | $1,058 | $3,139 | $2,030 | $1,575 | | OPERATING INCOME | 692 | 396 | 296 | 964 | 421 | 543 | | NET INCOME | $ 546 | $ 291 | $ 255 | $ 788 | $ 352 | $ 436 | | OPERATING EARNINGS (non-GAAP) | $ 271 | $ 296 | $ (25) | $ 318 | $ 352 | $ (34) | | NET INCOME Per Share | $ 1.10 | $ 0.58 | $ 0.52 | $ 1.58 | $ 0.70 | $ 0.88 | | OPERATING EARNINGS (non-GAAP) Per Share | $ 0.54 | $ 0.59 | $ (0.05) | $ 0.64 | $ 0.70 | $ (0.06) | [Consolidating Statements of Operations (Year Ended December 31)](index=8&type=section&id=5.2%20Consolidating%20Statements%20of%20Operations%20(Full%20Year)) This section presents PSEG's full-year consolidated and segment-level statements of operations for 2023 vs. 2022, detailing revenues, expenses, and earnings PSEG Consolidating Statements of Operations (Year Ended December 31, 2023 vs. 2022) ($ millions) | | PSEG FY 2023 | PSE&G FY 2023 | PSEG Power & Other FY 2023 | PSEG FY 2022 | PSE&G FY 2022 | PSEG Power & Other FY 2022 | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | OPERATING REVENUES | $11,237 | $7,807 | $4,533 | $9,800 | $7,935 | $3,266 | | OPERATING INCOME | 3,685 | 1,974 | 1,711 | 1,381 | 1,892 | (511) | | NET INCOME (LOSS) | $ 2,563 | $1,515 | $1,048 | $1,031 | $1,565 | $ (534) | | OPERATING EARNINGS (non-GAAP) | $ 1,742 | $1,532 | $ 210 | $1,739 | $1,565 | $ 174 | | NET INCOME (LOSS) Per Share | $ 5.13 | $ 3.03 | $ 2.10 | $ 2.06 | $ 3.12 | $ (1.06) | | OPERATING EARNINGS (non-GAAP) Per Share | $ 3.48 | $ 3.06 | $ 0.42 | $ 3.47 | $ 3.12 | $ 0.35 | [Capitalization Schedule](index=9&type=section&id=5.3%20Capitalization%20Schedule) This section presents PSEG's capitalization structure as of December 31, 2023, compared to 2022, detailing debt and equity components PSEG Capitalization Schedule ($ millions) | | December 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Commercial Paper and Loans | $ 949 | $ 2,200 | | Long-Term Debt* | 19,284 | 18,070 | | Total Debt | 20,233 | 20,270 | | Total Stockholders' Equity | 15,477 | 13,729 | | Total Capitalization | $ 35,710 | $ 33,999 | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=5.4%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section outlines PSEG's condensed consolidated cash flows for 2023 and 2022, detailing operating, investing, and financing activities PSEG Condensed Consolidated Statements of Cash Flows ($ millions) | | Year Ended December 31, 2023 | Year Ended December 31, 2022 | | :--- | :--- | :--- | | Net Income | $ 2,563 | $ 1,031 | | NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 3,806 | 1,503 | | NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | (2,958) | (1,101) | | NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | (1,260) | (754) | | Net Change in Cash, Cash Equivalents and Restricted Cash | (412) | (352) | | Cash, Cash Equivalents and Restricted Cash at End of Period | $ 99 | $ 511 | [Public Service Electric & Gas Company Retail Sales](index=11&type=section&id=5.5%20Public%20Service%20Electric%20%26%20Gas%20Company%20Retail%20Sales) This section provides PSE&G's retail electric (kWh) and gas (therms) sales data for Q4 and full year 2023 vs. 2022, including weather data PSE&G Electric Sales (millions kWh) | Sales (millions kWh) | Three Months Ended 2023 | Change vs. 2022 | Year Ended 2023 | Change vs. 2022 | | :--- | :--- | :--- | :--- | :--- | | Residential | 2,805 | 5% | 13,076 | (6%) | | Commercial & Industrial | 6,181 | (5%) | 25,680 | (3%) | | Total | 9,082 | (2%) | 39,093 | (4%) | PSE&G Gas Sold and Transported (millions therms) | Sales (millions therms) | Three Months Ended 2023 | Change vs. 2022 | Year Ended 2023 | Change vs. 2022 | | :--- | :--- | :--- | :--- | :--- | | Total Firm Sales | 712 | (9%) | 2,282 | (11%) | | Total Non-Firm Sales | 234 | 13% | 848 | (13%) | | Total Sales | 946 | (4%) | 3,130 | (12%) | Weather Data (Actual vs. Normal) | | Three Months Ended 2023 | Change vs. 2022 | Year Ended 2023 | Change vs. 2022 | | :--- | :--- | :--- | :--- | :--- | | THI Hours - Actual | 690 | 103% | 17,820 | (10%) | | Degree Days - Actual | 1,325 | (13%) | 3,633 | (20%) | [Nuclear Generation Measures](index=12&type=section&id=5.6%20Nuclear%20Generation%20Measures) This section provides nuclear generation data in GWh for PSEG's New Jersey and Pennsylvania facilities for Q4 and full year 2023 vs. 2022 Nuclear Generation (GWh Breakdown) | | Three Months Ended Dec 31, 2023 | Three Months Ended Dec 31, 2022 | Year Ended Dec 31, 2023 | Year Ended Dec 31, 2022 | | :--- | :--- | :--- | :--- | :--- | | Nuclear - NJ | 4,676 | 4,681 | 20,500 | 20,172 | | Nuclear - PA | 2,652 | 2,657 | 11,099 | 11,093 | | Total | 7,328 | 7,338 | 31,599 | 31,265 | [Statistical Measures](index=13&type=section&id=5.7%20Statistical%20Measures) This section presents PSEG's key statistical measures for 2023 and 2022, including shares outstanding, stock price, dividends, and book value PSEG Statistical Measures | | 2023 (Year Ended Dec 31) | 2022 (Year Ended Dec 31) | | :--- | :--- | :--- | | Weighted Average Common Shares Outstanding (millions) - Diluted | 500 | 501 | | Stock Price at End of Period | $ 61.15 | $ 61.27 | | Dividends Paid per Share of Common Stock | $ 2.28 | $ 2.16 | | Dividend Yield | 3.7% | 3.5% | | Book Value per Common Share | $ 31.07 | $ 27.63 | | Market Price as a Percent of Book Value | 197% | 222% | [Consolidated Operating Earnings (non-GAAP) Reconciliation](index=14&type=section&id=5.8%20Consolidated%20Operating%20Earnings%20(non-GAAP)%20Reconciliation) This section reconciles PSEG's Net Income to non-GAAP Operating Earnings for Q4 and full year, detailing excluded items and their per-share impact PSEG Consolidated Operating Earnings (non-GAAP) Reconciliation ($ millions, Unaudited) | Reconciling Items | 2023 (4Q) | 2022 (4Q) | 2023 (FY) | 2022 (FY) | | :--- | :--- | :--- | :--- | :--- | | Net Income | $ 546 | $ 788 | $ 2,563 | $1,031 | | (Gain) Loss on Nuclear Decommissioning Trust (NDT) Fund Related Activity, pre-tax | (126) | (85) | (184) | 270 | | (Gain) Loss on Mark-to-Market (MTM), pre-tax | (291) | (611) | (1,334) | 635 | | Pension Settlement Charges, pre-tax | 6 | — | 338 | — | | Plant Retirements, Dispositions and Impairments, pre-tax | — | 14 | — | 31 | | Lease Related Activity, pre-tax | 7 | 25 | 7 | 78 | | Exit Incentive Program (EIP), pre-tax | 4 | — | 29 | — | | Income Taxes related to Operating Earnings (non-GAAP) reconciling items | 125 | 187 | 323 | (306) | | Operating Earnings (non-GAAP) | $ 271 | $ 318 | $ 1,742 | $1,739 | PSEG Consolidated Operating Earnings (non-GAAP) Reconciliation ($ Per Share Impact - Diluted, Unaudited) | Reconciling Items | 2023 (4Q) | 2022 (4Q) | 2023 (FY) | 2022 (FY) | | :--- | :--- | :--- | :--- | :--- | | Net Income | $ 1.10 | $ 1.58 | $ 5.13 | $ 2.06 | | (Gain) Loss on NDT Fund Related Activity, pre-tax | (0.26) | (0.17) | (0.37) | 0.54 | | (Gain) Loss on MTM, pre-tax | (0.58) | (1.22) | (2.67) | 1.27 | | Pension Settlement Charges, pre-tax | 0.02 | — | 0.68 | — | | Plant Retirements, Dispositions and Impairments, pre-tax | — | 0.03 | — | 0.06 | | Lease Related Activity, pre-tax | 0.01 | 0.05 | 0.01 | 0.15 | | EIP, pre-tax | 0.01 | — | 0.06 | — | | Income Taxes related to Operating Earnings (non-GAAP) reconciling items | 0.24 | 0.37 | 0.64 | (0.61) | | Operating Earnings (non-GAAP) | $ 0.54 | $ 0.64 | $ 3.48 | $ 3.47 | [Segment Operating Earnings (non-GAAP) Reconciliation](index=15&type=section&id=5.9%20Segment%20Operating%20Earnings%20(non-GAAP)%20Reconciliation) This section provides separate reconciliations of Net Income to non-GAAP Operating Earnings for PSE&G and PSEG Power & Other segments for Q4 and full year PSE&G Operating Earnings (non-GAAP) Reconciliation ($ millions, Unaudited) | Reconciling Items | 2023 (4Q) | 2022 (4Q) | 2023 (FY) | 2022 (FY) | | :--- | :--- | :--- | :--- | :--- | | Net Income | $ 291 | $ 352 | $1,515 | $1,565 | | EIP, pre-tax | 2 | — | 19 | — | | Pension Settlement Charges, pre-tax | 4 | — | 4 | — | | Income Taxes related to Operating Earnings (non-GAAP) reconciling items | (1) | — | (6) | — | | Operating Earnings (non-GAAP) | $ 296 | $ 352 | $1,532 | $1,565 | PSEG Power & Other Operating Earnings (non-GAAP) Reconciliation ($ millions, Unaudited) | Reconciling Items | 2023 (4Q) | 2022 (4Q) | 2023 (FY) | 2022 (FY) | | :--- | :--- | :--- | :--- | :--- | | Net Income (Loss) | $ 255 | $ 436 | $ 1,048 | $(534) | | (Gain) Loss on Nuclear Decommissioning Trust (NDT) Fund Related Activity, pre-tax | (126) | (85) | (184) | 270 | | (Gain) Loss on Mark-to-Market (MTM), pre-tax | (291) | (611) | (1,334) | 635 | | Pension Settlement Charges, pre-tax | 2 | — | 334 | — | | Plant Retirements, Dispositions and Impairments, pre-tax | — | 14 | — | 31 | | Lease Related Activity, pre-tax | 7 | 25 | 7 | 78 | | EIP, pre-tax | 2 | — | 10 | — | | Income Taxes related to Operating Earnings (non-GAAP) reconciling items | 126 | 187 | 329 | (306) | | Operating Earnings (non-GAAP) | $ (25) | $ (34) | $ 210 | $ 174 |

Public Service Enterprise Group Incorporated (PEG) , or PSEG, is slated to report fourth-quarter and full-year 2023 results on Feb 26, before the opening bell.PEG boasts a four-quarter average earnings surprise of 11.14%.Factors to NotePSEG’s service territories mostly witnessed warmer-than-normal temperatures for all of the October-December period. Such a weather pattern is expected to have boosted the electricity demand for cooling purposes in this fall. This is likely to have contributed favorably to its ...

PSEG (PEG) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on February 26, 2024, might help the stock move higher if these key numbers are better than expecta ...

Public Service Enterprise Group Inc. (PEG) , also known as PSEG, recently announced that its board of directors has approved a 5.3% increase in its quarterly dividend rate. The revised quarterly dividend will be 60 cents, payable on Mar 29, 2024, to shareholders of record at the close of business on Mar 8, 2024.The company’s new annualized dividend rate is $2.40 per share, resulting in an annualized dividend yield of 4.10%, based on its share price of $58.55 as of Feb 13, 2024. The company’s current dividen ...