Public Service Enterprise Group IncorporatedNYSE: PEG

Public Service Enterprise Group Incorporated (NYSE:PEG ) Q3 2024 Earnings Conference Call November 4, 2024 11:00 AM ET Company Participants Carlotta Chan - Investor Relations Ralph LaRossa - Chair, President and CEO Dan Cregg - Executive Vice President and CFO Conference Call Participants Shar Pourreza - Guggenheim Partners Nicholas Campanella - Barclays Paul Zimbardo - Jefferies Jeremy Tonet - JP Morgan Durgesh Chopra - Evercore ISI Michael Sullivan - Wolfe Research David Arcaro - Morgan Stanley Anthony Crowdell - Mizuho Securities Paul Fremont - Ladenburg Thalmann Carly Davenport - Goldman Sachs Paul Patterson - Glenrock Associates Operator Ladies and gentlemen, thank you for standing by. My name is Rob, and I'm your event operator today.

PSEG (PEG) reported quarterly earnings of $0.90 per share, which is slightly below the Zacks Consensus Estimate of $0.91 per share. In comparison, the company earned $0.85 per share during the same period last year.

Public Service Enterprise Group (PSEG) announced its third-quarter results for 2024, showing a net income of $520 million, which translates to $1.04 per share. The company also reported non-GAAP operating earnings of $448 million, or $0.90 per share, compared to $425 million and $0.85 per share in the same quarter last year. Additionally, PSEG has approved and implemented a settlement for its distribution base rate case and expanded its energy efficiency programs.

PSE&G has revealed that its Clean Energy Future - Energy Efficiency II Program (CEF-EE II) has been approved by the New Jersey Board of Public Utilities (NJBPU). This program is expected to save participating customers a total of $4 billion over its lifetime. The announcement was made on October 30, 2024, in Newark, New Jersey.

PSEG (PEG) has the right mix of factors that could lead to a strong earnings report soon. Be ready for the important expectations.

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NEWARK, N.J., Oct. 14, 2024 /PRNewswire/ -- Public Service Enterprise Group Incorporated (PSEG) is set to hold its earnings call for the third quarter of 2024 at 11:00 a.m.

On October 9, 2024, the New Jersey Board of Public Utilities (BPU) approved a settlement that PSE&G made with BPU staff, the New Jersey Division of Rate Counsel, and other groups regarding PSE&G's electric and gas distribution base rate case submitted in December 2023. This marks the first increase in the base rate in six years, with an annual rise of about one percent.

Micron's earnings for the fourth quarter of FY2024 resulted in an 18% rise in stock prices, thanks to an impressive 80% year-on-year revenue growth and a positive outlook for the industry in FY2025, suggesting strong demand for DRAM. The company expects its gross and operating margins to improve in the first quarter of FY2025, projecting a significant 583% year-on-year growth in non-GAAP EPS for FY2025. Management believes that high-margin products such as HBM and eSSDs will boost revenue while decreasing reliance on the Chinese market in FY2025.