PSEG Q3 2020 Earnings Report
Key Takeaways
PSEG reported a strong third quarter with Net Income of $575 million, or $1.14 per share, compared to $403 million, or $0.79 per share, in Q3 2019. Non-GAAP Operating Earnings were $488 million, or $0.96 per share, compared to $495 million, or $0.98 per share, in Q3 2019. The company also narrowed its Non-GAAP Operating Earnings Guidance to $3.35 - $3.50 Per Share.
Net Income for the third quarter of 2020 was $575 million, or $1.14 per share.
Non-GAAP Operating Earnings for the third quarter of 2020 were $488 million, or $0.96 per share.
PSE&G was authorized to invest $1 billion over three years in energy efficiency programs.
PSEG is updating and narrowing PSEG’s full-year 2020, non-GAAP Operating Earnings guidance to $3.35 to $3.50 per share.
PSEG
PSEG
Forward Guidance
PSEG updated its expectations for non-GAAP Operating Earnings in 2020 by subsidiary.
Positive Outlook
- PSE&G: $1,325 - $1,355 million
- PSEG Power: $385 - $430 million
- PSEG Enterprise/Other: ($10) million
- Non-GAAP Operating Earnings: $1,700 - $1,775 million
- Non-GAAP Operating EPS: $3.35 - $3.50