PSEG Q2 non-GAAP EPS $0.70 vs $0.64 YoY; reaffirms FY guidance $3.40-$3.50

PUBLIC SERVICE ENTERPRISE GROUP INC

2023-Q2 EPS reported $3.76 revenue$6,176,000,000

Net income $591M ($1.18 EPS) vs $131M ($0.26) in Q2 2022; non-GAAP op earnings $351M ($0.70) vs $320M ($0.64).
Reaffirms FY2023 non-GAAP EPS guidance $3.40-$3.50; rate base growth 6%-7.5% through 2027.
Completed sale of offshore wind investment; pension lift-out transfers ~$1B obligations to Prudential for ~2,000 retirees; expects $225M-$260M non-cash charge in Q3.
PSE&G non-GAAP op earnings $341M vs $305M; PSEG Power & Other $10M vs $15M.
Long-term non-GAAP op earnings growth rate 5%-7% through 2027.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PUBLIC SERVICE ENTERPRISE GROUP INC reported second quarter 2023 results: net income Net Income of $591 million, or $1.18 per share, EPS $1.18 per share. Guidance reaffirmed.

Period: second quarter 2023
Net income: Net Income of $591 million, or $1.18 per share
EPS: $1.18 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

PSEG announced financial results for the three and six months ended June 30, 2023. A copy of the earnings release dated August 1, 2023 is furnished as Exhibit 99 to this Form 8-K.

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Source: SEC EDGAR

accession 0001193125-23-200002

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