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PSEG
🇺🇸 NYSE:PEG
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Sep 30, 2021

PSEG Q3 2021 Earnings Report

PSEG reported a net loss due to charges from the PSEG Power fossil sale, but non-GAAP operating earnings were solid, leading to raised full-year guidance.

Key Takeaways

PSEG reported a net loss of $1,564 million, or $3.10 per share, due to a pre-tax impairment loss related to the Fossil sale. However, non-GAAP operating earnings were $495 million, or $0.98 per share. The company raised its full-year non-GAAP operating earnings guidance to $3.55 - $3.70 per share.

Net Loss for the third quarter of 2021 was $1,564 million, or $3.10 per share.

Non-GAAP Operating Earnings for the third quarter of 2021 were $495 million, or $0.98 per share.

PSEG Power recorded a pre-tax impairment loss of approximately $2,175 million in connection with the Fossil sale.

Full-year 2021 non-GAAP Operating Earnings guidance raised to a range of $3.55 to $3.70 per share.

Total Revenue
$1.9B
Previous year: $2.37B
-19.7%
EPS
$0.98
Previous year: $0.96
+2.1%
Gross Profit
$236M
Previous year: $828M
-71.5%
Cash and Equivalents
$1.81B
Previous year: $966M
+87.5%
Free Cash Flow
-$614M
Previous year: $175M
-450.9%
Total Assets
$49.4B
Previous year: $49.6B
-0.3%

PSEG

PSEG

Forward Guidance

PSEG raised its full-year 2021 non-GAAP Operating Earnings guidance to a range of $3.55 to $3.70 per share.

Company Overview

Full financial data and analysis

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