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Dec 31, 2021
PSEG Q4 2021 Earnings Report
PSEG reported strong operating and financial results for 2021, with Q4 net income of $445 million.
Key Takeaways
PSEG reported a net income of $445 million, or $0.88 per share, for the fourth quarter of 2021. Non-GAAP operating earnings for the fourth quarter were $352 million, or $0.69 per share.
PSEG reported Q4 2021 net income of $445 million, or $0.88 per share.
Q4 2021 non-GAAP operating earnings were $352 million, or $0.69 per share.
For 2021, PSE&G Net Income increased by 9% above 2020 results, to $2.85 per share and contributed approximately 80% of PSEG’s consolidated non-GAAP Operating Earnings.
PSEG Power has completed the Fossil sale to ArcLight Capital Partners, LLC.
PSEG
PSEG
Forward Guidance
PSEG is narrowing the range of its existing 2022 full-year guidance for non-GAAP Operating Earnings to $3.35 to $3.55 per share, from the $3.30 to $3.60 per share initiated in September 2021.
Positive Outlook
- PSE&G Net Income for 2022 is forecasted at $1,510 million – $1,560 million
- PSE&G reflects the benefit of contemporaneously recovered investments
- PSE&G reflects the full-year benefit of the CIP.
- PSEG’s 2022 Operating Earnings guidance excludes results from operations related to the Fossil assets held for sale.
- PSEG is narrowing the range of its existing 2022 full-year guidance for non-GAAP Operating Earnings to $3.35 to $3.55 per share