$0.30 PER SHARE OF NET INCOME
Non-GAAP Operating Earnings of $0.58 Per Share
Re-Affirms Non-GAAP Operating Earnings Guidance $3.15 - $3.35 Per Share

Category:

Tuesday, July 30, 2019 7:38 am EDT

Dateline:

NEWARK, N.J.

Public Service Enterprise Group (NYSE: PEG) reported Net Income for the second quarter of 2019 of $153 million, or $0.30 per share, compared to Net Income of $269 million, or $0.53 per share, in the second quarter of 2018. Non-GAAP Operating Earnings for the second quarter of 2019 were $294 million, or $0.58 per share, compared to non-GAAP Operating Earnings for the second quarter of 2018 of $325 million, or $0.64 per share. Non-GAAP results for the second quarter of 2019 exclude the recognition of net unrealized gains on Nuclear Decommissioning Trust (NDT) equity securities, Mark to Market (MTM) gains, and charges associated with the anticipated sale of the company’s interests in two fossil generation plants and lease related activity.


Ralph Izzo, chairman, president and chief executive officer commented, “We have had a constructive second quarter that has advanced our long-term strategy on several fronts. PSE&G has reached an agreement in principle with key parties in the Energy Strong II (ES II) infrastructure filing that will enable the continuation of increasing the resiliency and improving the reliability of critical energy infrastructure in New Jersey. Separately, parties in PSE&G’s Clean Energy Future-Energy Efficiency (CEF-EE) filing have reached an agreement in principle that extends the matter into 2020, in anticipation of finalization of the state’s Energy Master Plan, and that authorizes, in the interim, PSE&G to continue work on four of its existing, award-winning Energy Efficiency programs for an additional year.”

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