PSEG Q3 Non-GAAP EPS $0.86 vs $0.98 YoY; narrows 2022 guidance to $3.40-$3.50

PUBLIC SERVICE ENTERPRISE GROUP INC

2022-Q3 EPS reported $0.48 revenue$6,661,000,000

GAAP net income $114M ($0.22 EPS) vs net loss $1,564M ($3.10 loss) in Q3 2021 due to fossil impairment.
Non-GAAP operating earnings $429M ($0.86 EPS) vs $495M ($0.98 EPS) YoY; Q3 electric gross margin declined $0.29/sh.
Narrowed 2022 non-GAAP EPS guidance to $3.40-$3.50 from $3.35-$3.55, midpoint affirmed; PSE&G net income forecast raised to $1,545-1,575M.
PSE&G revised 2022 capex to $3B; filed FERC formula rate update for $69M increase effective Jan 1, 2023.
Nuclear Q3 output 8 TWh; 94.3% YTD capacity factor; hedged 95-100% of 2023 output at $30/MWh; net cash collateral postings $1.7B.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

PUBLIC SERVICE ENTERPRISE GROUP INC reported the three months ended September 30, 2022 results: net income $114 million, EPS $0.22 per share. Guidance reaffirmed.

Period: the three months ended September 30, 2022
Net income: $114 million
EPS: $0.22 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Public Service Enterprise Group (NYSE: PEG) reported Net Income of $114 million, or $0.22 per share for the third quarter of 2022

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Earnings Releases SEC 8-K Item 2.02 confidence 0.8

PUBLIC SERVICE ENTERPRISE GROUP INC updated its the nine months ended September 30, 2022 guidance (reaffirmed).

Period: the nine months ended September 30, 2022
Guidance: reaffirmed
Result: reported results

Exact text from the filing

PSEG announced financial results for the three and nine months ended September 30, 2022.

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Source: SEC EDGAR

accession 0001193125-22-273334

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