PSEG reports FY2024 non-GAAP EPS $3.68, initiates 2025 guidance $3.94-$4.06, raises capex plan

PUBLIC SERVICE ENTERPRISE GROUP INC

2024-FY EPS reported $3.54 revenue$10,290,000,000

FY2024 net income $1,772M ($3.54 GAAP EPS); non-GAAP operating earnings $1,839M ($3.68 EPS).
2025 non-GAAP EPS guidance $3.94-$4.06, midpoint up ~9% vs 2024; extends 5-7% CAGR through 2029.
2025-2029 capex plan raised to $22.5-26B (up $3.5B); PSE&G rate base CAGR 6-7.5% from ~$34B YE2024.
Dividend increased to $2.52 annual ($0.63/quarter), reflecting confidence in growth.
PSE&G settled rate case (9.6% ROE, $17.8B rate base); CEF-EE II approved ~$2.9B; nuclear PTC benefit started Jan 2024.

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