NET INCOME OF $2.83 PER SHARE
NON-GAAP OPERATING EARNINGS OF $3.12 PER SHARE
Non-GAAP 2019 Operating Earnings Guidance $3.15 - $3.35 Per Share

Category:

Wednesday, February 27, 2019 7:39 am EST

Dateline:

NEWARK, N.J.

Public Service Enterprise Group (PSEG) reported 2018 Net Income of $1,438 million, or $2.83 per share, as compared to Net Income of $1,574 million, or $3.10 per share, for 2017. Non-GAAP Operating Earnings for the year 2018 were $1,582 million, or $3.12 per share, compared to $1,488 million, or $2.93 per share for 2017. The Net Income comparison for the full year reflects the absence of one-time items including the favorable impact of the Tax Cut and Jobs Act (Tax Act) in 2017, charges in 2017 related to the early retirement of the Hudson and Mercer generating units and higher charges in 2017 related to the REMA leveraged leases. Full year 2018 results include the recognition of net unrealized losses on Nuclear Decommissioning Trust (NDT) equity securities as a result of new accounting rules, partially offset by lower Mark to Market (MTM) losses and a gain related to the sale of the retired Hudson and Mercer generating units.

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